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LNG projects need close government scrutiny
Utilisation of Papua New Guinea’s massive gas resources has entered a critical phase following the cancellation early this year of the project to pipe natural gas to Australia.
As indicated in previous columns much attention needs to be given by the government to rational and early development of an liquefied natural gas project as the only [...]
World’s mining firms dig in perilous terrain
The world’s biggest mining companies, hungry for metals increasingly tapped out in developed countries, are plunging into risky new terrain. Mining executives are setting up operations in some of the most violent, politically turbulent places, like the Tenke Fungurume copper and cobalt mine Phelps Dodge approved here in December.
Expatriate homes for the Tenke staff have [...]
Africa’s natural resources have led to conflict and corruption
Million dollars is annually versed in Africa by the international oil companies. Million more is spent with the exploratory companies. It is a resource which is essential to the world economy. Consequently it should produce money to address health and the social questions of the oil-producing countries about the continent.
Oil and other mineral resources have [...]
PNG seeks talks with China firm over nickel mine
Papua New Guinea government officials hope to meet the Chinese developers of a long-promised nickel mine over allegations of unfair working conditions, aiming to avert a shut-down at the construction site.
PNG Foreign Affairs and Trade Minister Paul Tiensten said the $775 million project had the potential to turn around the country’s sagging economy and that [...]
Tension in Bolivia, Africa to lift metals
Copper prices were buoyed on Friday by the prospect of a strike at a Peruvian mine, while Bolivia’s leftist president Evo Morales has put a shudder through the mining industry by nationalising Glencore’s tin, zinc and lead operations there.
The trend for governments to take advantage of the windfall profits being generated by miners is continuing, [...]
Indonesia’s Riches Draw China, India
When it comes to energy and industrial commodities, China and India are Asia’s fiercest competitors. For the last couple of years, both Chinese and Indian companies have done deals across the globe — from Latin America to Africa — to win oil exploration rights or secure long-term raw material contracts.
Now they have set their sights [...]
China mixes rice and neo-colonialism
When China, one of the world’s most corrupt countries, starts dishing out tens of billions of US dollars in aid and business contracts in Africa, the world’s most corrupt continent, alarm bells go off in Washington and other Western capitals. The fact that China turns a blind eye to widespread human-rights abuses on the continent [...]
New sources sought as oil imports rise 17.6pc
Oil imports to fuel China’s booming economy soared by 17.6 percent in the first half of this year, despite its efforts to reduce reliance on foreign energy supplies, the government said Thursday.
Net crude oil imports from January to June totaled 492 million barrels, or 43 percent of China’s consumption, the official Xinhua News Agency said, [...]
China’s Top Offshore Oil Producer Sees Profits Soar
China’s biggest offshore oil producer and the country’s second-largest bank have reported soaring profits.
China’s top offshore oil and gas producer, CNOOC, has posted a 38 percent jump in earnings for the first half of the year. The better-than-expected results were driven by soaring energy prices and higher output.
Oil and gas production at the state-owned company [...]
