PNGBLOGS

BY A SPECIAL CORRESPONDENT IN SINGAPORE Part 1 – How Peter O’Neill and Peter Botten cost Papua New Guinea at least K1 billion The Oil Search Annual General Meeting in Port Moresby earlier this year confirmed that the company is acutely aware of the extent of corruption in the Papua New Guinea government of Peter O’Neill. Oil Search executives privately commented to attendees after the AGM closed that "... everything here in PNG is corrupt …" “… the government is so corrupt …”, "… PNG has a lot of corruption issues …" and others in similar vein. The cost of O’Neill Government corruption is high, estimated to be several billion kina a year. Now the contribution of Oil Search’s own questionable dealings with the O’Neill Government has come under public scrutiny. Late last month stockmarket trading announcements revealed that the nation has lost at least K1 billion in an illegal sweetheart deal organised in secret between Prime Minister O’Neill and O

by Belden N. Namah MP As in the game of Chess, O'Neill’s opening in assuming power was indeed truly remarkable because people like me made it possible. While he did not take us all to the moon it was still a remarkable ride. Two major loss he suffered recently may perhaps lead to the beginning of his end game. The two major losses he suffered recently are of his own making. First, by dragging his foot on an Electronic Election with the hope of influencing the outcome of the 2017 O'Neill woke up after the 2017 election results started coming in to see his majority in Parliament decimated from 60 members to only 23. We also saw for the first time under his leadership unprecedented level of election-related violence in the Capital of all the highlands Provinces with over 25 deaths and millions in losses and damages to property. The election violence continues unabated today in his own Capital of Mendi where he remains powerless in restoring normalcy and where the enti

by MAIA WAMENE Felix Kange hails from Maia Village which is about two kilometers from Pangia Station, Southern Highlands Province. The village is made up of 3 council wards.It is a village that has produced more than 300 University & other Tertiary institution graduates and well over 10 millionaires. Felix Kange is the son of Former Ialibu/Pangia MP, Mr. Pundia Kange(1982-1987)  & chief of Maia Village & Ialibu/Pangia District. People in this village including Pundia Kange has got much bigger influences in previous elections, both in open and regional seats.  They have been seen as the power brokers for this electorate, given this influence support was desperately needed by O'Neill to win in this years election. Peter O'Neill reached out to get their support and in doing so he submitted to their (Maia) demands after meeting them before the elections and was happy to meet what they wanted in order to gain their support.  Peter O'Neill submitted to

The real story behind this and now details coming in the open is Felix Kange was caught with his pants down having sex with his late wife's sister, while the late wife and some other friends were in the car waiting to go out partying on that fateful F riday night.  He had ran back to the house to pick up something but went to his sister in law's room and started having a romp, a few minutes went by and he did not show up in the car and the late wife being suspicious went back inside the house to check, she found her sister's door locked and head moans and groans coming from inside, he had no way of escaping, he got busted by his late wife deep inside his sister in law, out of his shame and from the arguments that followed he took out his side arm and released a round on his wife.  With all the ill-gotten millions he got via stealing from the state through various false claims he paid off his in-laws not to sue and bought them all out, no one wants thi

by KEN MONDIAI PNG Govt Oil Search Shares held by KUMUL Holdings "SOLD" with K100 million deal but what about the loss if you look at it closely.....there is a huge coverup here clearly all done in secrecy just for the interest of FOREIGNERS in PNG. Peter O'Neill was at the UN General Assembly meeting in New York and secretly flew to Houston Texas. Home of Exon-Mobil ....my contacts in Texas USA told me ... that is a Dangerous Move ... effectively Exon-Mobil is trying to gain grounds in the PNG Oil & Gas sector by strategically doing behind the scene deals by providing advice and using the power of the media which they control to cover the truth. They already played their games by having a "powerful dictator" in place and soon another small powerful dictator in the seat of HELA, then they will effectively control everything. Other investors in the sector like TOTAL, REPSCO and others who have interest in PNG Gas & Oil Fields will be bought out b

by HOPE PNG The sale of Oil Search shares by UBS resulted in it recovering part of its principal from the US$1.2 billion (K3 billion) loaned to PNG Government to purchase the shares initially. Of that K3 billion loaned to PNG Government, UBS only recovered K2.22 billion from that sale. Simple math dictates that UBS made a loss of K780 million on the principal amount loaned. • The first shipment of PNG LNG was made in the last week of March 2014 (source: PNG Business Advantage) • PNG LNG proceeds were held in a UBS bank account as collateral in Singapore. • The State offloaded (by directing UBS) the Oil Search shares and made a loss of US$250 million (or K780 as stated by Wapu Sonk). • The actual loss would be well over K1.8 billion when calculating collar costs, commissions to advisors and all other costs associated with the UBS loan. • O’Neill claimed Government made a net gain of K100 million from that sale. • The only logical conclusion one can draw is that UBS dippe

The Member for Moresby North-West, Sir Mekere Morauta, said today that the International Monetary Fund Article IV Summary Report was a timely wake-up call for the Government and that he hoped the Supplementary Budget to be brought down in Parliament this sitting would deal with the issues raised. He said the Supplementary Budget should be the start of a long journey to repair the Budget and public finances and lay the foundation for sustainable growth, especially in the non-mining sector. The IMF pointed out that the 2017 fiscal deficit would need to be reduced significantly, but that further reductions would need to occur in future years. It also said that the Government needed to stop borrowing and printing money, reduce liquidity in the system – which means reduce expenditure and that it needed to urgently address the foreign exchange shortages and allow the kina some measure of flexibility to determine its own value in terms of other currencies. Sir Mekere said people shou