![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Staff Writers Port Moresby (AFP) May 30, 2019
Former finance minister James Marape was elected Papua New Guinea's new prime minister Thursday and immediately issued a fiery nationalistic address that put foreign resource companies on notice. The former finance minister threatened foreign logging companies and vowed to "tweak" resource laws that underpin a recently inked $13 billion gas deal with Total and ExxonMobil. Hours after being elected, Marape told parliamentarians he does "not intend to chase away our investors" but insisted "our resource laws are outdated," a clear reference to the huge LNG project. "Who says one conglomerate from outside will come and tell me I can change the law for my country?" he asked. "I have every right to tweak and turn resource laws for my country," he said. "We will look into maximising gain from what God has given this country from all natural resources." One of Asia's most impoverished nations, Papua New Guinea is rich in natural resources, which include large gas fields. The ExxonMobil and Total Papua LNG project, signed in April, would almost double Papua New Guinea's gas exports and make the country a significant global player. Marape -- who comes from energy-rich Hela province -- had in April resigned from the government, complaining the spoils of that contract were not equitably distributed. He also said Papua New Guineans "don't need" foreign companies operating in the country's lucrative timber export sector. Tighter global logging rules and widespread deforestation in Indonesia have seen loggers -- predominantly from China -- turn their attention to Papua New Guinea's extensive forests.
- Rhetoric or action? - His tenure was marked by endemic corruption and chronic underdevelopment, in a country that has increasingly become a venue for US-China rivalry. The government's purchase last year of 40 Maseratis to ferry foreign dignitaries around Port Moresby's few fully paved roads during an APEC summit became emblematic of his time in office. Marape, aged 48, said his victory represented power shifting to a new generation and away from O'Neill's top-down approach to one more suited to the country's complex tribal, regional and ethnic politics. Likening himself to a "choirmaster", Marape urged members of both parties who backed him in a 101-8 vote to unify. "Every one of you can sing your part. Some of you will sing the bass parts; some of you will sing the soprano, the alto, the melody." "Together, we can make the song that our children truly deserve." Marape's tenure could also spell a rocky patch for PNG-Australia relations. He had previously demanded an investigation into "corrupt contracts" with Australia to settle asylum seekers on tropical island camps, which he said had sullied the country's image. It remains to be seen if his premiership brings substantive reforms or tinkering around the edges. Many Papua New Guineans -- only 13 percent of whom have access to reliable electricity -- will be suspicious Marape's appointment is little more than musical chairs among the country's distant elite. Much may hinge on who Marape appoints to his cabinet and how much delay the policy rethink takes. "Papua New Guineans are suffering," former prime minister Mekere Morauta warned Marape in an address to parliament. "You will need to address corruption and abuse, mismanagement of finances and mounting debt." "The people of Papua New Guinea want change." Lowy Institute analyst Jonathan Pryke said Marape's appointment signals continuity, but key policies could yet be revisited. "We will likely see... recent agreements signed with Total energy over a new LNG project reviewed and renegotiated. "I don't think Marape is hostile towards the natural resource sector, but he is eager to see the benefits going to the Highlands, to landowners and to the PNG people to be maximised." Energy analysts have warned that any delay to the LNG project could make it less attractive, with similar projects in Africa and Latin America competing to meet the same projected market shortfall in the mid-2020s.
![]() ![]() In Houston, tech and health are cures for the oil 'curse' Houston (AFP) May 28, 2019 In the heart of Texas oil country, the city of Houston rode high on the oil boom, but then fell hard when the bottom dropped out of crude prices. But bit by bit America's fourth-largest city is weaning itself off its dependence on oil, betting instead on industries like healthcare and tech, even though black gold is never far from view in the birthplace of the American petroleum industry. In the southern part of town, the Texas Medical Center covers two square miles (more than five square kilome ... read more
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |