PNGBLOGS

AAP Oil Search Ltd says the economic outlook in developed countries is uncertain, with sluggish growth likely to constrain oil prices. The Papua New Guinea (PNG) focused energy company has also sounded a word of warning in its annual report that there may be too many liquefied natural gas (LNG) projects planned for the next decade in the Asia Pacific region. "While global economies have started to recover from the recession, the economic outlook in developed nations is still uncertain," Oil Search chairman Brian Horwood said. "Slow economic growth is likely to limit upward movements in the oil price," Mr Horwood said in the report released on Monday. "This, together with the natural decline in production from our existing mature oil fields, will have a direct impact on Oil Search's future earnings." The company said there had been a strong outlook for Asia's LNG growth, with the region likely to need 180 to 200 million tonnes per annum by 202

AAP Oil Search Ltd says the economic outlook in developed countries is uncertain, with sluggish growth likely to constrain oil prices. The Papua New Guinea (PNG) focused energy company has also sounded a word of warning in its annual report that there may be too many liquefied natural gas (LNG) projects planned for the next decade in the Asia Pacific region. "While global economies have started to recover from the recession, the economic outlook in developed nations is still uncertain," Oil Search chairman Brian Horwood said. "Slow economic growth is likely to limit upward movements in the oil price," Mr Horwood said in the report released on Monday. "This, together with the natural decline in production from our existing mature oil fields, will have a direct impact on Oil Search's future earnings." The company said there had been a strong outlook for Asia's LNG growth, with the region likely to need 180 to 200 million tonnes per annum by 2

By Powes Parkop LLB, LLM NCD Governor I UNDERSTAND the sentiments and disappointment of “Parkop nambawan supporter” (The National, March 12), and others like him who might have reached the same conclusion after hearing the announcement by the Speaker as to my affiliation in Parliament. I respect the views of the author but I would have thought that if indeed he or she was my number one supporter, he or she would have not rushed to judge but await my explanation especially when the announcement was not made by me but by the Speaker. In politics, some decision we make might not please all our supporters but those who are genuine supporters should learn to ascertain the truth and get an explanation before rushing to judgment or conclusion. The fact is that I have not joined the Government. I have moved to the middlebench so that I can assert more of my status as an independent MP where I can support or oppose the Government when I have to. This is not a new position that I have

By Powes Parkop LLB, LLM NCD Governor I UNDERSTAND the sentiments and disappointment of “Parkop nambawan supporter” (The National, March 12), and others like him who might have reached the same conclusion after hearing the announcement by the Speaker as to my affiliation in Parliament. I respect the views of the author but I would have thought that if indeed he or she was my number one supporter, he or she would have not rushed to judge but await my explanation especially when the announcement was not made by me but by the Speaker. In politics, some decision we make might not please all our supporters but those who are genuine supporters should learn to ascertain the truth and get an explanation before rushing to judgment or conclusion. The fact is that I have not joined the Government. I have moved to the middlebench so that I can assert more of my status as an independent MP where I can support or oppose the Government when I have to. This is not a new position t

  The Australian One of the world’s leading voices on climate change policy, Kevin Conrad, has been linked to a string of failed business dealings in Papua New Guinea. Conrad, PNG’s UN Special Envoy and Ambassador for Climate Change and Environment, came to international notoriety at the Bali conference in 2007 he told the US to either lead the debate or get out of the way. In 2008 the UN Environment Program named Conrad a ‘Champion of the Earth’. Last year, Time magazine named Conrad number one “Leader and Visionary” within its annual list of “Heroes of the Environment”. But in PNG, Conrad has a different legacy. PNG’s Public Service Minister Peter O’Neill when opposition leader in parliament in 2007 attacked the government on Conrad’s business dealings. He accused Conrad of involvement in a failed housing scheme in the 1990s for the Public Officers Superannuation Fund where 17 million kina ($A8million) was paid but not one single house was built. O’Neill also alleged Conrad

  The Australian One of the world’s leading voices on climate change policy, Kevin Conrad, has been linked to a string of failed business dealings in Papua New Guinea. Conrad, PNG’s UN Special Envoy and Ambassador for Climate Change and Environment, came to international notoriety at the Bali conference in 2007 he told the US to either lead the debate or get out of the way. In 2008 the UN Environment Program named Conrad a ‘Champion of the Earth’. Last year, Time magazine named Conrad number one “Leader and Visionary” within its annual list of “Heroes of the Environment”. But in PNG, Conrad has a different legacy. PNG’s Public Service Minister Peter O’Neill when opposition leader in parliament in 2007 attacked the government on Conrad’s business dealings. He accused Conrad of involvement in a failed housing scheme in the 1990s for the Public Officers Superannuation Fund where 17 million kina ($A8million) was paid but not one single house was built. O’Neill al

JB Varey THE perception that Government ministers and MPs are corrupt, yet fighting to stay in power, is a symptom of an eroding and weak democracy. For example, the public’s perception is that the Prime Minister is guilty in the Motigate affair. The Speaker’s continuous gagging of parliamentary debates has made things even worse. Is it any wonder that a high percentage of the population, who are well read and informed, believe both the Prime Minister and Speaker are guilty and stand in the way of justice, progress and development? If you look at mature democracies elsewhere, they are guided by public opinion and their leaders will immediately step down when public opinion reflect a confidence crisis. They do not even wait for people power to prove they have lost the confidence of the people. Democracy is people’s power. Power resides in the people. But the inability to use that, not only during national elections but whenever necessary, is a symptom of a weak democracy. In

JB Varey THE perception that Government ministers and MPs are corrupt, yet fighting to stay in power, is a symptom of an eroding and weak democracy. For example, the public’s perception is that the Prime Minister is guilty in the Motigate affair. The Speaker’s continuous gagging of parliamentary debates has made things even worse. Is it any wonder that a high percentage of the population, who are well read and informed, believe both the Prime Minister and Speaker are guilty and stand in the way of justice, progress and development? If you look at mature democracies elsewhere, they are guided by public opinion and their leaders will immediately step down when public opinion reflect a confidence crisis. They do not even wait for people power to prove they have lost the confidence of the people. Democracy is people’s power. Power resides in the people. But the inability to use that, not only during national elections but whenever necessary, is a symptom of a w

Australia Network News Papua New Guinea's Prime Minister, Sir Michael Somare, has congratulated Esso Highlands Ltd for successfully concluding financial arrangements that will enable the 15 billion US dollar PNG LNG project to proceed. Esso Highlands is the operator of the ExxonMobil lead project, which includes Oil Search and the PNG government as junior partners. This massive development has been almost 4 years in the making and is expected to double PNG's Gross Domestic Product. Sir Michael Somare says the weekend announcement of the conclusion of the project financing and major purchase agreements with four Asian customers is a major milestone in the government's efforts to build a vibrant economy. Presenter: Jemima Garrett Speaker: Paul Barker, Director of the Papua New Guinea's Institute of National Affairs BARKER: Certainly Jemima, it is a major milestone and because its a 30 year project, it does provide a major backstop for revenue for the state,