Papua New Guinea News
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Petrominerales Ltd.’s debt load and 50 percent stock drop has created a bargain for energy companies looking to acquire assets in South America’s third-biggest oil producing country.
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Jet Airways (India) Ltd. named Gary Kenneth Toomey as its chief executive officer to succeed Nikos Kardassis, who resigned less than two months after the carrier agreed to sell a stake to Etihad Airways PJSC.
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On a patch of barren savannah in eastern Colombia, a settlement called Oasis has sprung to life in five years. Hundreds of oil workers and truck drivers relax on a February evening in some 40 hotels, bars, eateries and brothels made mostly of corrugated metal sheets.
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Newcrest Mining Ltd., Australia’s largest gold producer, will write down the value of its assets by as much as A$6 billion ($5.7 billion) after a slump in prices, sending its shares down to the lowest in eight years.
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In an era when many countries have more mobile phones than people and the price of wireless service is falling fast, Myanmar is a place operators want to be.
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Newcrest Mining Ltd., the worst performer of Australia’s 20 largest companies this year, fell to its lowest since 2005 after Credit Suisse Group AG cut its rating amid concern it will lower output and halt expansions.
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The fastest revenue growth in the oil industry is putting Papua New Guinea’s Oil Search Ltd. in line for another record -- Asia’s largest energy takeover.
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The secret to making money in shipping containers can be found in 8.4 billion bananas.
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InterOil Corp., the Australian energy company with licenses to explore about 3.9 million acres, said it entered exclusive talks with Exxon Mobil Corp. to develop natural gas fields in Papua New Guinea.
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InterOil Corp., which plans to develop a liquefied natural gas project in Papua New Guinea, is in the final stage of talks with major oil producers and a national oil company for a “multi-billion dollar” partnership.
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