Papua New Guinea Rejects Private Bid For New Gas Field ...Middle East

Papua New Guinea has granted a license to a state-owned company to develop a gas field, preferring to keep control and income from the resources within the government rather than giving a private foreign company the rights to develop the new project. The government of Papua New Guinea has given the rights to state-controlled Kumul Petroleum to develop the Pandora gas field, preferring the government-owned entity to private firm Twinza Oil, which is headquartered in Australia, Reuters reports. Apart from Twinza Oil, other international players in…

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