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.
New Papua New Guinea Prime Minister James Marape doubled down on his plans to earn more taxes from the gas-and-gold-rich country's natural resources sector on Wednesday, but said major reform would not take effect for years.
Commodity companies are pushing to meet Papua New Guinea's new prime minister, who is set to deliver a nationwide address on Wednesday as he starts to overhaul the way the gas-rich country manages its vast natural resources.
French energy company Total
said on Friday that it expected Papua New Guinea's
incoming government to honour a contract signed by the previous
administration for a liquefied natural gas project in the South
When Papua New Guinea's lawmakers started to shift their weight in their parliamentary seats in preparation for a tense vote on a new prime minister on Thursday, James Marape looked uninterested, his head lowered, fingers tapping his phone.
Former finance minister James Marape was elected prime minister of Papua New Guinea on Thursday, and the critic of a major global gas development deal vowed to review management of the nation's resource riches.
Papua New Guinea Prime Minister
James Marape signalled his intention on Thursday to toughen laws
on natural resources so as to benefit the nation in his maiden
speech to parliament after being elected leader.
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