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Friday
9 May 2008
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   TODAY'S STORIES
 
GOMEZ 
Australia and PNG get down to business
(Thursday, 8 May 2008)

Even though the signing of the PNG Gas Agreement with ExxonMobil appears imminent, most of the discussion at the 24th annual Australia-PNG Business Council Forum focused on various other subjects.
Full Story...


MORE GOMEZ

Plenty of room at the inn, but not for a few years


First Australia-PNG Ministerial Forum since 2005 hits the ground running


Oil Search winning streak closely tied to core PNG interests


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OIL AND GAS 

InterOil blames rising crude price for pain at the pump
(Friday, 9 May 2008)

PNG’s sole oil refiner, InterOil, says soaring world crude oil prices are behind its decision to increase its retail fuel prices by 12 toea (A4.73c) for petrol and 20 toea for diesel and kerosene yesterday.
Full Story...


MORE OIL AND GAS

Cobra on the move, Paua near total depth


Rift to spud well amid costs dispute with JV partner


Gas flows from InterOil’s long-awaited Elk-4


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MINING 
BCL prepares for a possible return of Panguna
(Friday, 9 May 2008)

BOUGAINVILLE Copper (BCL) is preparing for good news as the Autonomous Bougainville Government and PNG agreed to a 15-point plan and timetable for a definitive and workable mining regime for the island.
Full Story...


MORE MINING

Frontier hits more gold at Komsen


ABG President defends Canadian explorer’s ‘no-strings’ gift


Nautilus completes phase one of deep-sea exploration


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MARKET WATCH 
Rising energy prices dominate the markets
(Friday, 9 May 2008)

The major market movers this week were rising oil and gas prices that hit new highs around the world, with PNG being no exception.
Full Story...


MORE MARKET WATCH

InterOil soars in trading on Elk-4 report


Frontier suffers for Anzac day


PNG LNG announcement likely to boost local markets


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REGIONAL WATCH 
Drilling results boost Medusa
(Thursday, 8 May 2008)

MEDUSA Mining says ongoing drilling at the Co-O goldmine in the Philippines has encountered an “exceptional” intersection of 33.5m at 18.07 grams per tonne gold.
Full Story...


MORE REGIONAL WATCH

PNG drawn into Taiwanese diplomatic scandal.


ATO wages war on Vanuatu tax haven


Martabe gets Indonesian thumbs up


VIEW ALL STORIES



 


Rising energy prices dominate the markets
(Friday, 9 May 2008)

The major market movers this week were rising oil and gas prices that hit new highs around the world, with PNG being no exception.
Full Story...


InterOil blames rising crude price for pain at the pump
(Friday, 9 May 2008)

PNG’s sole oil refiner, InterOil, says soaring world crude oil prices are behind its decision to increase its retail fuel prices by 12 toea (A4.73c) for petrol and 20 toea for diesel and kerosene yesterday.
Full Story...


BCL prepares for a possible return of Panguna
(Friday, 9 May 2008)

BOUGAINVILLE Copper (BCL) is preparing for good news as the Autonomous Bougainville Government and PNG agreed to a 15-point plan and timetable for a definitive and workable mining regime for the island.
Full Story...

Cobra on the move, Paua near total depth
(Friday, 9 May 2008)

Oil Search’s Cobra-1A well has made 95m progress for the week and is setting a 9-5/8-inch casing, with the well at 1701m of its total planned depth of 3100m.
Full Story...


Frontier hits more gold at Komsen
(Friday, 9 May 2008)

FRONTIER Resources has found higher-grade gold in its latest drilling results from its Komsen Prospect, part of the Andewa Project in New Britain Province, PNG.
Full Story...


Rift to spud well amid costs dispute with JV partner
(Thursday, 8 May 2008)

RIFT OIL will spud its PNG exploration well Puk Puk-1 on May 10, while the company has been approached by other interested parties as it pursues its joint venture partner, Austral Pacific, for unmet expenditure.
Full Story...


Highway reopening mired by mud closure
(Thursday, 8 May 2008)

THE Okuk Highway, also known as the Highlands Highway, was officially reopened yesterday with the completion of a bypass at Gera, however rain and mud has closed the road off to most traffic.
Full Story...


Australia and PNG get down to business
(Thursday, 8 May 2008)

Even though the signing of the PNG Gas Agreement with ExxonMobil appears imminent, most of the discussion at the 24th annual Australia-PNG Business Council Forum focused on various other subjects.
Full Story...


ABG President defends Canadian explorer’s ‘no-strings’ gift
(Thursday, 8 May 2008)

THE AUTONOMOUS Bougainville Government President Joseph Kabui accepted K20,000 ($A7567) in 2005 from Canadian explorer Invincible Resources, but claims it was to help his party in the elections.
Full Story...


Nautilus completes phase one of deep-sea exploration
(Thursday, 8 May 2008)

TECK Cominco has completed the first phase of deep-sea explorer Nautilus Mineral’s $US12 million (K32.35 million) 2008 offshore exploration program over its tenements in PNG and Tonga.
Full Story...


Porgera bucks Barrick’s lower first quarter production
(Thursday, 8 May 2008)

HIGHER production at Barrick Gold’s Porgera mine in PNG has helped offset overall lower production for the first three months of this year, while a decision to de-hedge gold output has kept profits strong.
Full Story...


Drilling results boost Medusa
(Thursday, 8 May 2008)

MEDUSA Mining says ongoing drilling at the Co-O goldmine in the Philippines has encountered an “exceptional” intersection of 33.5m at 18.07 grams per tonne gold.
Full Story...


Alleged assaults at Hidden Valley to go to court despite landowners’ pleas
(Thursday, 8 May 2008)

POLICE are determined to press charges against workers involved in an alleged assault at Harmony Gold’s Hidden Valley gold project despite calls from landowners to let all employees involved in the incident escape charges.
Full Story...


Steamships steams ahead on property and investment
(Thursday, 8 May 2008)

STEAMSHIPS Trading is riding the wave of PNG’s booming economy as its net profit grew 56.2% in 2007, earning K74.2 million ($A28.12 million) compared to K47.5 million the previous year, but the Gera landslide could affect 2008 earnings.
Full Story...


PNG drawn into Taiwanese diplomatic scandal.
(Thursday, 8 May 2008)

TAIWAN has been rocked by a $US30 million (K80.69 million) embezzlement scandal involving PNG’s diplomatic relations between the island nation and its rival China.
Full Story...


ATO wages war on Vanuatu tax haven
(Thursday, 8 May 2008)

THE Australian Taxation Office seeks to crack down on the Pacific tax haven of Vanuatu with plans to audit 80 taxpayers who have claimed more than $A90 million (K227.90 million) in allegedly false tax deductions.
Full Story...





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