Papua New Guinea is demanding a greater share of the country’s resource wealth, stepping up its battle with companies including Exxon Mobil Corp. and Barrick Gold Corp. Prime Minister James Continue Reading
France-based oil and gas major Total said Friday it has signed an accord with the government of Papua New Guinea to double LNG exports from that country. Photo by Fletcher6/Wikipedia Continue Reading
After several months of what can only be only called bad PR and troubling news coming out of the ExxonMobil-led $19 bn Papua New Guinea (PNG) LNG project, finally some Continue Reading
Sydney — China’s state-owned PetroChina International has signed a three-year agreement for the purchase of 0.45 million mt/year of LNG from the ExxonMobil-operated Papua New Guinea LNG project, expected to Continue Reading
As liquefied natural gas (LNG) markets mature, trying to establish itself against decades of crude oil dominance, developments far removed from most of the action are taking unusual turns that Continue Reading
A new gas discovery was made in Papua New Guinea and data assessments are now geared toward commercial developments, a key regional player said. Oil Search announced Thursday it encountered Continue Reading
Dinged by a severe earthquake in Papua New Guinea, Exxon Mobil said Friday its production levels were down 6 percent when compared with last year. In its quarterly report, Exxon Continue Reading
The reserve estimate for natural gas in Papua New Guinea is 84 percent higher than first thought, warranting a significant expansion, Exxon Mobil said. Exxon said the reserve estimate at Continue Reading
A senior Exxon Mobil Corp executive said on Wednesday the company is still assessing damage to its natural gas processing plant in the mountains of Papua New Guinea, knocked out Continue Reading
Australia’s Oil Search Ltd said on Tuesday that it expects its Gobe processing plant and oil export pipeline in Papua New Guinea to be operational later this week, after a Continue Reading
An earthquake in Papua New Guinea rattled ExxonMobil’s gas project on the island nation to the tune of $19 billion, and a backlash against the U.S. company’s activities is becoming Continue Reading
A deadly earthquake that struck ExxonMobil’s $19 billion gas project in the mountains of Papua New Guinea is sparking a backlash against the U.S. energy giant that could prove harder Continue Reading
Production at a liquefied natural gas facility in Papua New Guinea was shut down safely after a major earthquake this week, an Australian company said. More than a dozen people Continue Reading
ExxonMobil Corp said on Wednesday there was no indication so far that a powerful earthquake in Papua New Guinea this week has damaged the 700 km (435 mile) pipeline that Continue Reading
At least one company began evacuating non-essential personnel after a powerful 7.5 magnitude earthquake hit Papua New Guinea’s energy-rich interior on Monday, causing landslides, damaging buildings and closing oil and Continue Reading
Working in a partnership with Australian and Japanese partners, Exxon Mobil said new hydrocarbons were found while drilling in gas-rich Papua New Guinea. A regional affiliate of Exxon is working Continue Reading
Exxon bid values Papua New Guinea gas explorer at $2.5 billion Oil Search, Total to axe joint-bid if InterOil chooses Exxon Exxon Mobil Corp. is the leader in the clubhouse Continue Reading
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. ExxonMobil Corp has made Continue Reading
Oil Search Ltd. (OSH) plans to decide on adding new liquefied natural gas processing plants by the end of 2016, as the Papua New Guinea-focused company outlined plans that may double output by early next decade. Oil Search also will return as much as half of its profit to shareholders in dividends after the start earlier this year of a $19 billion LNG project in Papua New Guinea , the Port Moresby-based company said today in a statement. The Exxon Mobil Corp.-led LNG project will also allow Oil Search to fund expansion, the company said following a review of its strategy. Oil Search said it expects two or three more LNG production units to be built in the country with the development of InterOil Corp. (IOC) ’s Elk and Antelope discoveries. “New LNG development in PNG will be among the most competitive in the region,” Neil Beveridge , a […]
SYDNEY—Papua New Guinea, a small Southeast Asian nation better known for its jungles and corruption, became the world’s newest significant energy exporter after an Corp-led facility began shipping natural gas. The cargo delivery from the US$19 billion PNG LNG project is the first from several new liquefied natural gas, or LNG, terminals in Papua New Guinea and Australia. These plants are due to start up over the next three years and will mark a shift in the global LNG trade’s epicenter, away from the Middle East. Work began on the PNG LNG project in 2010, when Asian gas users were looking to ramp up imports of fuels that burn cleaner than coal, and international energy companies were struggling to access resources not owned by foreign governments. The industry’s landscape has changed dramatically since then, with companies in North America now looking to export shale gas while China this week […]
SYDNEY—Papua New Guinea, a small Southeast Asian nation better known for its jungles and corruption, became the world’s newest significant energy exporter after an Corp-led facility began shipping natural gas. The cargo delivery from the US$19 billion PNG LNG project is the first from several new liquefied natural gas, or LNG, terminals in Papua New Guinea and Australia. These plants are due to start up over the next three years and will mark a shift in the global LNG trade’s epicenter, away from the Middle East. Work began on the PNG LNG project in 2010, when Asian gas users were looking to ramp up imports of fuels that burn cleaner than coal, and international energy companies were struggling to access resources not owned by foreign governments. The industry’s landscape has changed dramatically since then, with companies in North America now looking to export shale gas while China this week […]
