PNGBLOGS

By RICHARD BAKER THE economic benefit of Papua New Guinea's biggest natural resources project has been questioned, with a report warning that ordinary citizens risk missing out because of corruption and contracts that favour the lead proponent, ExxonMobil. A report by anti-poverty group Jubilee Australia, to be released Wednesday, examines the predicted economic benefit of PNG's liquefied natural gas project and the Australian government's provision of $500 million towards it. The report highlights endemic corruption in PNG and warns that a government sovereign wealth fund and other official bodies established to handle billions of dollars in revenues could be defrauded. ''The governance and public life of PNG are to this day beset by political intrigue, self-interest of politicians and gross misuse of public funds,'' the report warns. Scheduled to begin production in 2014, the LNG project is valued at $22 billion and predicted to double PNG's gross dome

By RICHARD BAKER THE economic benefit of Papua New Guinea's biggest natural resources project has been questioned, with a report warning that ordinary citizens risk missing out because of corruption and contracts that favour the lead proponent, ExxonMobil. A report by anti-poverty group Jubilee Australia, to be released Wednesday, examines the predicted economic benefit of PNG's liquefied natural gas project and the Australian government's provision of $500 million towards it. The report highlights endemic corruption in PNG and warns that a government sovereign wealth fund and other official bodies established to handle billions of dollars in revenues could be defrauded. ''The governance and public life of PNG are to this day beset by political intrigue, self-interest of politicians and gross misuse of public funds,'' the report warns. Scheduled to begin production in 2014, the LNG project is valued at $22 billion and predicted to double PNG's gro

THERE can be no understating of the era of prosperity that beckons PNG. Since 1991, oil and gas investment is estimated to be more than K52 billion, making it the single largest contributor to national economic development. This year alone, led by the PNG LNG project, the sector has sunk K12 billion and predicts it will spend the same again next year, Oil Search managing director Peter Botten told the Sydney Mining and Petroleum Conference last week. And it is not only the PNG LNG project managed by ExxonMobil or even the second one proposed by InterOil. There are new oil and gas projects in the offing with the InterOil LNG development, projects led by Horizon, Talisman, Eaglewood and strong exploration in the Gulf of Papua and throughout the highlands. There are also very significant projects in the offing in the mining area which will help lay the foundation for growth and prosperity in PNG. Dr Ila Temu, President of the Chamber of Mining and Petroleum, told the same conference that

THERE can be no understating of the era of prosperity that beckons PNG. Since 1991, oil and gas investment is estimated to be more than K52 billion, making it the single largest contributor to national economic development. This year alone, led by the PNG LNG project, the sector has sunk K12 billion and predicts it will spend the same again next year, Oil Search managing director Peter Botten told the Sydney Mining and Petroleum Conference last week. And it is not only the PNG LNG project managed by ExxonMobil or even the second one proposed by InterOil. There are new oil and gas projects in the offing with the InterOil LNG development, projects led by Horizon, Talisman, Eaglewood and strong exploration in the Gulf of Papua and throughout the highlands. There are also very significant projects in the offing in the mining area which will help lay the foundation for growth and prosperity in PNG. Dr Ila Temu, President of the Chamber of Mining and Petroleum, told the same conf

By Sanjay Bhosale   Papua New Guinea Prime Minister Peter O'Neill's call for a thorough rethink of Australia's aid policy towards his country deserves serious consideration. On his first visit to Australia since his re-election in August, O'Neill delivered a thorough assessment of PNG-Australia relations and expressed his desire for a change in direction for AusAID. Addressing the National Press Club on November 28, O'Neill began with a complaint about the Australian media's coverage of PNG. ''It frequently disappoints me that journalists with most limited knowledge about Papua New Guinea describe my country as a failed state or a failing state. This is just simply, totally wrong,'' he said. ''I have no problems with journalists being critical of my government or my country. There are times when we deserve it … but such sweeping claims are harmful and quite frankly they are also very hurtful.'' O'Neill's grievance is just

By Sanjay Bhosale   Papua New Guinea Prime Minister Peter O'Neill's call for a thorough rethink of Australia's aid policy towards his country deserves serious consideration. On his first visit to Australia since his re-election in August, O'Neill delivered a thorough assessment of PNG-Australia relations and expressed his desire for a change in direction for AusAID. Addressing the National Press Club on November 28, O'Neill began with a complaint about the Australian media's coverage of PNG. ''It frequently disappoints me that journalists with most limited knowledge about Papua New Guinea describe my country as a failed state or a failing state. This is just simply, totally wrong,'' he said. ''I have no problems with journalists being critical of my government or my country. There are times when we deserve it … but such sweeping claims are harmful and quite frankly they are also very hurtful.'' O'Neill's gri

By GOVERNOR GARY JUFFA MP Sonoma was an old man who was well known for his legends. That’s what we grew up reading, in the Times, a PNG newspaper of yesteryear which featured PNG legends. Sonoma told many legends that explained the existence of various geographic anomalies or creatures and their relationship towards each other. His stories were entertaining. I reflected today about legends. I myself grew up like many other Papua New Guineans enthralled and entertained by legends by the fireside. It made me think of a modern day legend. Well not really a legend, but I thought it would be an interesting way to begin this Sunday rant. A National Security Policy is being developed by Papua New Guinea. This is according to recent media reports. One wonders why it took 30 years. One would imagine that such a policy would have been designed and developed immediately after independence. National Security is fundamental to economic progress for any nation as its primary intention is to ensure i