When you’re handed a lemon – make lemonade. The PNG Oil Search shares saga.

By PNG Echo. Prime Minister, Peter O’Neill has defended his government’s position on the controversial UBS loan in the wake of an article published by Fairfax Media saying: The cost of losses we suffered to the Arabs are far worse than the cost we pay on the loan from UBS.” He went on to explain: PNG paid $8.20 when the Somare government agreed to pay $8.50 to the Arabs, Oil Search is our country’s biggest tax payer and one of the largest employers of our citizens so why is it wrong for us to be a stable shareholder in that Continue reading When you’re handed a lemon – make lemonade. The PNG Oil Search shares saga.

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Polye or Namah? Rearranging deckchairs on the Titanic.

By PNG Echo. In an interview given to EMTV at the end of last week, Prime Minister, Peter O’Neill commented on a number of issues including: the recent defections (?) to the Opposition, the Grand Chief’s move to the middle benches (or the opposition depending on who you listen to) and the UBS loan. The Prime Minister reminded his audience that PNG, as an adherent to democratic principles, was governed by the virtue of numbers – and he had them In fact, O’Neill has almost 60 Members of Parliament in his own PNC party, according to figures he quoted. With Continue reading Polye or Namah? Rearranging deckchairs on the Titanic.

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