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KUMUL PETROLEUM’S DEALINGS: BANKRUPTED A NATION AND BROUGHT DOWN A PRIME MINISTER

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by REGINALD HAUREVA

Reference a recent letter to the Editor of the Post Courier under the  caption “Kumul Petroleum,  Petronas in the making” published on June 12,  2019, authored by one “ BUSH COMMERCIAL LAWYER OF PORT MORESBY”.

The timing of this letter is quite uncanny. It was obviously timed to pre-empt and cuff the hand of Hon. James Marape MP, the new Prime Minister, who is the trustee shareholder of Kumul Petroleum Holdings Limited and associated companies (“Kumul”). However, its timing betrays a tinge of fear
our bush lawyer obviously harbours in the new government having its own ideas of just what role, if any,  Kumul Board and its current CEO, Mr Wapu Sonk could play, in the greater campaign to take back PNG.

For information of the Bush Lawyer, the Kumul Petroleum Trustee has the power to sack any or the entire Board(s) and the CEO, if he pleases. But that is too simplistic. The fact that someone high up in Kumul obviously prompted such a letter to be written is itself somethi…

WORLD SHAME: BROKE PNG LOSES VOTING RIGHTS IN UN OVER UNPAID ANNUAL CONTRIBUTIONS

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UN announcement highlights recent problems with the PNG Government's payment of bills Comes after state-owned electricity provider cut services to several government agencies over failure to pay bills Five other countries — Venezuela, Libya, Sudan, Cape Verde and Vanuatu — have also lost voting rights for non-payment Papua New Guinea has lost its vote in the United Nations General Assembly because it failed to pay its annual contributions. Papua New Guinea has lost its vote in the United Nations General Assembly because it failed to pay its annual contributions. PNG needs to pay the UN at least $180,000 to regain voting rights. It is one of six countries whose voting rights have been suspended for non-payment — the others being Venezuela, Libya, Sudan, Cape Verde and Vanuatu. The UN's announcement highlights recent problems with the PNG Government's payment of bills. It comes after the state-owned electricity provider, PNG Power, cut services to the country's nati…

JAMES MARAPE'S MENTOR IS PETER O'NEILL WHEN IT COMES TO HALF TRUTHS

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NIUGINI OUTLOOK  UPNG especially was screaming in December that they had no money left to run the university. It was well known that months ago the PNG government had promised a sizeable amount of money to University of Papua New Guinea, PNG University of Technology and University of Goroka to pay for damages and other expenses that were incurred and not budgeted for by the universities as a result of the 2016 student boycott. The declaration that this money would be given to the universities before classes resumed again last September was supposedly told to university heads by Chief Minister Isaac Lupari in private, and in public by Peter O'Neill and other government officials. It was clearly stated in August 2016 and run on EM-TV news that the following amounts would be paid: UPNG: K12 million
Unitech: K43 million
UOG: K8 million In the case of Unitech, this money was essential, being that 4 buildings were burned to the ground in late June 2016, including the all-important mess. W…