Papua New Guinea

Island gambit hints at Beijing’s new lower gear

23 Nov 2018

U.S. Vice President Mike Pence has intimated China intends to drown Pacific nations in a sea of debt. The actual approach, however, has been reluctantly pragmatic, as in a move to delay repayments from Tonga. The result may be a more sustainable version of the Belt and Road plan.

Exxon’s New Guinea sojourn stirs oil M&A waters

19 Jul 2016

The U.S. oil giant's $2.3 bln offer for Papua-focused gas explorer InterOil topped an earlier approach from rival energy group Oil Search. Though it's Exxon's biggest swoop since crude prices crashed, it looks more like opportunism than a catalyst for an impending deal wave.

Oilmen fix smart $2.2 bln deal in Papua New Guinea

20 May 2016

Oil Search’s offer to buy InterOil is canny and opportunistic. The buyer will only pay later for future gas discoveries. An agreement to sell a big chunk straight on to France’s Total also cuts the chance of a rival bid. It leaves InterOil investors with an unattractive choice.