Talks fail between Exxon, InterOil for stake in PNG fields - report

Aug 16 (Reuters) - Shares of InterOil Corp fell 6 percent after a news website said the company's negotiations with Exxon Mobil Corp to develop liquefied natural gas fields in Papua New Guinea ended without a deal.

Exxon, the world's largest publicly traded oil company, failed to close a deal to buy into InterOil's license in Elk and Antelope fields, PNG Industry News reported on Friday, citing sources

 

InterOil was in talks to sell a stake in its license to ExxonMobil Papua New Guinea Ltd, potentially expanding Exxon's $19 billion Papua New Guinea liquefied natural gas (PNG LNG) project.
Exxon spokesman Patrick McGinn told Reuters the company does not comment on commercial discussions. InterOil could not be reached for comment.
Queensland, Australia-based InterOil received the license in November 2010, which covers nine blocks surrounding the Elk and Antelope fields. The company has petroleum licenses covering about 3.9 million acres in the country.
The talks also included funding of InterOil and its partner Pacific LNG to drill additional delineation wells in the fields

InterOil says talks with Exxon ongoing over PNG gas fields

Aug 16 (Reuters) - InterOil Corp and ExxonMobil Corp remain in talks to jointly develop InterOil's Elk and Antelope natural gas fields in Papua New Guinea, InterOil said on Friday after a website reported negotiations had ended without an agreement.
InterOil's shares fell as much as 12 percent following the report in PNG Industry News
The news service, citing an unidentified source, said the talks were "dead" and that ExxonMobil's exclusive period for negotiations had ended.
InterOil, responding to a query from the New York Stock Exchange, said its policy was to not comment on market speculation or negotiations. But it added: "Negotiations with ExxonMobil Papua New Guinea Ltd regarding an agreement to monetize the Elk and Antelope fields are ongoing."
ExxonMobil spokesman Patrick McGinn declined to comment.
ExxonMobil needs gas for its $19 billion Papua New Guinea liquefied natural gas (PNG LNG) project.
InterOil, which has its headquarters in Cairns, Australia, was awarded the license to develop the fields in November 2010. The license covers nine blocks surrounding the Elk and Antelope fields.
The talks also included funding of InterOil and its partner Pacific LNG to drill additional delineation wells in the fields.
InterOil shares were down 5 percent at $70.38 in early afternoon trading.

PNG denies Labor's refugee claims

Nine MSN

August 17, 2013

Papua New Guinea Prime Minister Peter O'Neill with Australian PM Kevin Rudd. (AAP)

PNG Prime Minister Peter O'Neill has told Fairfax Media he has not agreed to settle all asylum seekers who are found to be refugees after processing on Manus Island.
And he says Australia will need to take back a share of them.
"There is no agreement that all genuine refugees will be settled in PNG," he said.
PNG would work with the UN High Commissioner for Refugees to engage with other countries willing to take part in resettling those refugees, Mr O'Neill told Fairfax.
"That includes Australia, New Zealand and all the other countries who are signatories to the UN conventions on refugees."
Mr O'Neill said he believed Australia had an annual quota to settle about 20,000 refugees.
"Under that process, they will get some and New Zealand has indicated they would take some."
Mr Rudd has insisted there is "one simple principle" in his new regime - that all asylum seekers arriving by boat would be diverted to PNG and settled there if found to be genuine refugees.
Mr O'Neill derided federal opposition claims that refugees would seek to use PNG as a pathway to Australia.
"It is certainly an overreaction,'' he said.

Why hasn't any action been taken against this person?

NEC decision stands (Post-Courier, April 17, 2012)

By PATRICK TALU

THE National Executive Council decision to reject InterOil Corp in developing the Gulf LNG project is final.
Prime Minster Peter O’Neill yesterday denied releasing any statement in support of the project.
Mr O’Neill was surprised to read of himself being quoted as “PM: NEC has not rejected LNG’s 2nd LNG project’ on this paper and “PM says development will go ahead’ as quoted in The National yesterday.
The Post-Courier understood that the statement was released by Susuve Laumaea who is on the Prime Minister’s staff and indicated that it was approved for release by Prime Minister Peter O’Neill.
The statement which was released by Mr Laumaea read “Prime Minister Peter O’Neill says Interoil Corporation’s LNG project development in PNG’s Gulf Province will go ahead when all pre-conditons set by government and the 2009 Project Agreement are fully satisfied.
Mr O’Neill said yesterday there is no National Executive Council decision rejecting the Gulf LNG project.
He reiterated his earlier statement in August last year that the government under his watch would assist InterOil to secure a strategic operating partner, re-scope the project agreement to enable phased LNG development, and to locate the project in Gulf Province.
Mr O’Neill has directed the Ministry and Department of Petroleum and Energy to cooperate with InterOil and desist from confusing the investment community and Gulf Province government and landowners with media statements about rejection of the project.”
It was understood Mr O’Neill was furious with Mr Laumaea, who is a former employee of InterOil, for framing the statement without the knowledge and authorisation of him.
A copy of the NEC decision No NG37/2011 in which Mr O’Neill himself signed as the NEC Chairman stated, “on the 21st of September 2011, National Executive Council, rejected the Gulf Project as proposed by LNGL/InterOil as it would be an inefficient use of the State’s gas resources and is inconsistent with the Project Agreement.”
The NEC decision further stated, “endorsed the views of the Minister for Petroleum and Energy in relation to the status of the Project Agreement, the PPFL, the PDL and PRL 15; endorsed the actions taken to date by the Minister for Petroleum and Energy,
Department of Petroleum and Energy and Petromin to ensure that LNGL/InterOil develop the LNGL Project in accordance with the Project Agreement; and endorsed the actions proposed to be taken by the Minister for Petroleum and Energy to ensure that the gas resources of PNG are developed according to the Project Agreement, in particular, if LNGL/InterOil proceeds with the Gulf Project, and takes a final investment decision in relation to any of the projects that make up the Gulf Project or otherwise commits a repudiatory breach of the Project Agreement.
A spokesperson of an interested party in the project also expressed concern that the project has taken too long saying; “we have put in money for this project as well and it’s not good being dragged on for a long time.

The National: Still PNG’s No.1 daily

Source: The National, Friday August 16th, 2013

THE National has taken a giant leap ahead of Post Courier in the April-June period of the year, increasing by more than 11,000 copies a day over the previous quarter.
Our circulation in the April-June period averaged 63,331 copies a day while the Post Courier dropped to 25,387 copies from 27,032 in January-March.

In the first quarter, we averaged 52,234 copies as we rationalised our distribution and reporting procedures.
The second quarter figures were recently released by Australia’s Audit Bureau of Circulation, which independently verifies and reports on the performance of media organisations.
The National has been Papua New Guinea’s number one daily newspaper for the past five and a half years and remains the undisputed leader in all of the urban centres.
We now outsell the Post by 2.5 copies to one.
Transportation, mostly via air, continues to be the biggest obstacle to more robust growth. Despite this The National has maintained the same cover price since the first newspaper rolled off the press in November 1992 with only one adjustment to cover freight charges.
The National sells for K1 in Port Moresby and K1.50 in all other centers.
We publish five times a week, printing simultaneously out of two presses in Port Moresby and Lae.

Gordon Market shakes off ‘bad boy’ image

 By MALUM NALU

Gordon Market, notorious for being one of the filthiest and most crime infested in Port Moresby, is looking to shake off that ‘bad boy’ image.

In an amazing transformation in the space of a few days, the local community and police have joined forces to clean the market of betelnut sellers, marijuana and home brew dealers, prostitutes, pick pockets, and drunkards who terrorised innocent men, women, and children.

Community and police working together…Insp Mosinakave (centre) with Gordon Market vendors, goers, and his men at the entrance.-Nationalpics by MALUM NALU

Gordon ‘home boys’, men who were born and bred in Gordon and now raising their own families, could no longer sit back and watch the safety and wellbeing of their wives and children being compromised.

“Our wives and children were harassed, they didn’t feel free,” spokesman James Tore told The National.

“Drugs and liquor were sold just like any other item in the market place.

The outside of Gordon Market looking spic and span.

This shop front, opposite Gordon Police Barracks, was known for being one of the filthiest betelnut markets in the city.

Innocent men, women, and children can now go to Gordon Market without fear of being harassed.

‘This forced us to go and see NCDC if we could start this clean-up campaign.

“They agreed to help and support us, and from there on, we started cleaning up.”

Trying to clean Gordon Market is no mean feat, especially trying to tell a hardened betelnut vendor, or marijuana and home brew dealer, to pack up and leave.

The Gordon ‘home boys’ needed help, and when they needed it most, in stepped Inspector Mark Mosinakave and his young and enthusiastic crew from NCD Police Beat Patrol.

“We wanted to show our presence in the area because Gordon Market is infested with thugs,” he said.

“It has a very bad image.

“We want to help clean up the place, to tell the people that what they do is bad for the city.

“Gordon Market is in the heart of the nation’s capital so we have to keep the place clean for visitors, as well as for ourselves.

“We’ve been carrying out patrols, telling vendors to go and sell their stuff at the right places.

“It is really filthy, especially the betelnut.

“Gordon is supposed to be a fresh produce area, but betelnut is creating so much filth around this area so we’re trying to stop vendors from selling betelnut.”

Mosinakave said his men and the Gordon ‘home boys’ started foot beats at 5.30am till 6pm every day, and although a tough job, the rewards were there with the place being much cleaner, and smiles on the faces of women and children.

“A lot of people are giving positive comments about our presence here at Gordon and the volunteers coming in to help us keep the place clean,” he said.

“This is our home, Port Moresby.

“Let’s help each other and take care of our city.”