Dede Sophie

 PNG Prime Minister Hon. James Marape says he told Puma Energy bluntly in Singapore on Sunday (January 8, 2023) that he does not “tolerate the country being held to ransom”. He said this in Parliament on Tuesday (January 10, 2023) when answering a series of questions from Southern Highlands Governor Hon. William Powi in relation to the standoff between Puma and Bank of Papua New Guinea (BPNG) last Thursday (January 5, 2023) over foreign exchange (FX) issues that resulted in all Air Niugini flights being cancelled. The Prime Minister also informed Parliament that: • The country had K13 billion in foreign reserves at BPNG which was the highest ever since 1975, so lack of FX was not an issue; • Government had directed Kumul Petroleum Holdings Ltd and Mineral Resources Development Company to look at downstream processing of PNG oil and gas resources; and  • Puma had been directed to buy Kutubu crude oil from Southern Highlands from Santos in PNG Kina and be processed in-country at its Napa...

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