|Bid||7.61 x 0|
|Ask||7.62 x 0|
|Day's Range||7.57 - 7.66|
|52 Week Range||6.30 - 9.23|
|Beta (3Y Monthly)||1.61|
|PE Ratio (TTM)||27.47|
|Earnings Date||Aug 21, 2019|
|Forward Dividend & Yield||0.19 (2.68%)|
|1y Target Est||6.61|
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll show how you can...
With a giant gas project expansion in the tropical highlands of remote Papua New Guinea bogged down by politics, the country's biggest company, Oil Search, is turning for growth to the other side of the world in Alaska's frozen wilderness. Australia-listed but headquartered in Port Moresby, the A$10.7 billion ($7.2 billion) oil and gas producer has shaped the industry in Papua New Guinea over the past 90 years, helping drive development in the impoverished nation. The confusion has opened a window for Oil Search to push ahead with a promising field in Alaska's North Slope oil region that it bought into in 2018 and where it is the project operator.
Papua New Guinea will start preliminary hearings on Sept. 19 into the terms of a A$1.2 billion ($810.5 million) loan from Swiss bank UBS used for an ill-fated government investment in the gas sector, the inquiry's chairman said on Monday. The timetable and terms of reference, released for the first time, also include a focus on how the UBS loan used to buy a government stake in PNG-focused energy firm Oil Search was obtained, whether it resembled previous loans, and whether the government broke its own rules in taking out the loan. Chairman Salamo Injia, a former chief justice, said in a statement on Monday that retired Australian judge John Gilmour would also join the inquiry as a second commissioner.
Papua New Guinea said on Tuesday it will honour a gas deal that Total SA signed with a previous government for a $13 billion plan to expand gas exports, after securing minor concessions from the French company. The decision removes uncertainty over the plan to double liquefied natural gas (LNG) exports from the Pacific nation that arose after new Prime Minister James Marape came to power in May promising to win more benefits for the impoverished country. The Papua LNG gas agreement is one of two agreements needed for Total and its partners, Exxon Mobil Corp and Oil Search Ltd, to go ahead with the LNG expansion plan.
Papua New Guinea's opposition leader, Patrick Pruaitch, on Friday pressed the nation's prime minister to back a gas deal with France's Total SA rather than seek changes and delay a $13 billion expansion of the country's gas exports. The government, led by James Marape, earlier this month suddenly called for talks with Total to revise the Papua LNG gas agreement, one of two needed for Total, Exxon Mobil Corp and their partners to go ahead with two major projects. Neither Total nor the government have disclosed the status of talks, but Total's partner in Papua LNG, Oil Search Ltd has said the companies believe the agreement, signed with Marape's predecessor, Peter O'Neill, should be honoured.
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Papua New Guinea has sent a team to Singapore to renegotiate its Papua LNG agreement with French oil major Total SA, the nation's petroleum minister said in a statement on Thursday, warning the talks could end "disastrously" for the gas project. The strong language from minister Kerenga Kua marked an about-turn from a statement 10 days earlier, when he announced the new government would stand by the gas deal agreed by the previous government with Total in April, with some minor changes.
Papua New Guinea's petroleum minister said a gas deal it agreed with French oil major Total SA could be re-drawn if a government review finds its terms unfavourable. The deal, for a project called Papua LNG, was agreed in April but put up for review after the prime minister who signed it was ousted in a parliamentary vote in May, following a crisis caused by discontent over the distribution of resource riches. Petroleum Minister Kerenga Kua, who was appointed to the portfolio last month by new Prime Minister James Marape, said he wanted to increase the government's share of resource revenue.
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Construction delays and cost blowouts could hit the next wave of liquefied natural gas (LNG) projects as there are a limited number of contractors able to handle the huge projects, three developers said on Wednesday. Around $200 billion in projects across the globe from Australia to the United States are racing to be approved over the next two years, vying to provide around 65 million tonnes of new annual supplies that are needed by 2025, according to estimates by consultants Wood Mackenzie. "Unless you're in FEED in the next six to nine months, unless you're in FID in the next two years, there's going to be no one to build your project," Oil Search Executive General Manager Ian Munro told the conference.
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Papua New Guinea Prime Minister James Marape installed a reformer as petroleum minister on Friday, handing him a mandate to overhaul the sector and warning investors to "pack up and leave" if they did not like it. Announcing his ministries in the capital of Port Moresby, Marape said Petroleum Minister Kerenga Kua - brought in from the opposition - shared his vision for raising more revenue from the resources sector.
SYDNEY/BRISBANE, May 30 (Reuters) - Papua New Guinea's new prime minister pledged on Thursday to "tweak and turn" laws governing how natural resources are extracted to help lift the vast South Pacific archipelago out of poverty. James Marape, a former finance minister who became leader after winning a vote in parliament, put some of the world's biggest resources companies on notice over a perceived lack of wealth flowing from their projects back to communities. Marape, who hails from PNG's poor but gas-rich highlands, had even quit the government in April after questioning a deal with France's Total, which allows it, Oil Search Ltd and ExxonMobil Corp to begin work on a $13 billion plan to double gas exports.