AGP Executive Report

China Partnership: PNG has signed an Enhanced Economic Partnership framework with China in Suzhou, clearing the way for “module” talks toward a possible free trade agreement after a completed joint feasibility study. Business Priorities: At a POMCCI breakfast, economists used the “Five Ps” (Petroleum, Policy, Projects, Produce, Partnerships) to frame growth, while warning businesses to brace for fuel-price volatility and the knock-on effects for the kina and costs. Fuel Stress Test: Senior economists said PNG’s fuel stabilisation can’t be treated as risk-free, urging planning for a worst-case scenario if global supply tightens. Grey Listing Mood: Another POMCCI session highlighted confidence around grey listing and pointed to major project opportunities, but the message was clear: readiness matters. Regional Security & Fisheries: Pacific nations wrapped up Operation Tui Moana, boosting fisheries surveillance against IUU fishing. Banking: BSP reiterated it is the largest bank in the South Pacific, underscoring its push for prosperity across PNG and the region.

Pacific Security Push: New Zealand is stepping up efforts to lock Pacific defence cooperation deeper into regional structures, as Islanders worry the “Ocean of Peace” is slipping amid rising militarisation and transnational crime focus. PNG–France Momentum: PM James Marape used a French National Assembly visit to thank France for long-running support and flagged talks nearing completion on the “green port” redevelopment of Rabaul, alongside renewable energy and biodiversity cooperation. Kina Pressure on Prices: An economist warns PNG’s low Kina value is lifting import costs and inflation, arguing monetary policy must stabilise the currency. Tax Breaks Under Scrutiny: The IRC says PNG is forgoing billions in revenue through GST and import duty exemptions, with 2024 GST not collected at K2.465b. Mining Updates: South Pacific Metals reports gold-copper mineralisation at Ontenu NE; Great Pacific Gold outlines expanded 2026 drilling at Wild Dog; Geopacific’s Woodlark DFS pegs A$1.3b post-tax value. Fuel Watch: Fuel is said to be secure, but businesses are urged to prepare for possible price rises if subsidy delays drag on.

Deep-Sea Mining Sprint: After a Trump executive order, U.S. regulators are fast-tracking permits and at least nine firms are in talks to access seabed minerals—yet questions remain over company track records and how the minerals would be processed. Bougainville Stability: Bougainville Copper has locked in permanent leadership, appointing Melchior Togolo as CEO after the death of Johnny Patterson Auna, aiming to keep Panguna exploration obligations on track. PNG Fuel Watch: The ICCC says fuel supply is stable, with recent disruptions tied to delayed subsidy payments; it warns stations and PMV operators not to hike prices beyond approved limits. Tax Hit for Lihir: Newmont Lihir Gold paid a record K852m corporate tax instalment to the IRC, the highest first payment in the sector. Gold Smuggling Pressure: PNG authorities are tightening airport enforcement after another alleged attempt to export gold via Jacksons International Airport. Downstream Push: PM Marape says PNG Diwai Holdings will drive forestry downstream processing, with more jobs targeted from 2027. Leadership & Governance: A PNG Sports Foundation review is being urged after major sporting event cancellations blamed on coordination and leadership failures.

Tax & Extractives: Newmont Lihir Gold has made PNG’s biggest first instalment corporate tax payment to the IRC this year—K852 million—up sharply from K92.4 million last year, with the IRC linking the jump to strong global gold prices and market-based valuation. Fuel Watch: The ICCC says fuel supply is stable nationwide, with recent disruptions tied to delayed subsidy payments rather than import shortages; it also warns operators and PMV providers not to exceed approved pump prices while subsidy reimbursements catch up. Education Policy: UOG SRC is pushing the TSC and Education Department to review a new 2.8 GPA requirement for teacher trainees, saying students already enrolled were hit without enough consultation or transition. Infrastructure & Climate: PNG and Queensland are reviving their highway partnership after a study tour focused on tropical road resilience. Diplomacy & Investment: PM Marape is in France courting French firms for PNG’s next growth push, while PNG and South Korea mark 50 years of diplomatic ties. Community & Culture: Yumi FM officially launched the 20th PNG Musik Awards, and PNG’s maritime sector marked International Day for Women in Maritime with leaders spotlighting real workplace change.

Visa Clampdown: Thailand is tightening entry rules, ending visa-free stays for more than 90 countries for trips over 30 days—an update that also hits British passport holders and is aimed at curbing foreign-national crime while boosting tourism security. PNG Fuel Watch: PNG’s fuel regulator says pump prices must stay within approved limits even as subsidy reimbursements lag, warning operators and PMV providers against price hikes; it also follows weekend shortages and panic buying after payment delays. Airport Gold Crackdown: PNG authorities have stepped up enforcement at Jacksons International Airport, intercepting raw gold and silver from an outbound passenger and referring the case for investigation. Women in Politics: A new PNG election rule requires parties to field at least 10% women candidates, praised as a start but still “to be tested” in the 2027 election. Connectivity Push: Australia has launched a Telecommunications Blueprint process for PNG, while PNG’s Connect PNG roads program continues to frame transport as an “economic corridor” for agriculture and jobs. Mining & Investment: Geopacific’s Woodlark DFS backs a long-life gold plan, and Maronan secured a $22m strategic investment for silver drilling and a PFS.

Fuel Watch: PNG’s fuel regulator ICCC has warned PMV operators and service stations not to lift pump prices above approved ceilings, even as subsidy reimbursements lag—after weekend price fears and market swings. ICCC says retail pricing can shift to the maximum market rate when subsidy payments are delayed, but any outlet charging beyond the ceiling will face action. Relief on the way: Separate reports say subsidy delivery has eased prices back toward March levels after government support. Women in politics: A new PNG election rule requires parties to field women candidates at a 10% quota, but analysts say it will only be truly tested in the 2027 election. Women in work: A Pacific-wide push is calling for workplaces free from harassment, citing very high reported rates in PNG. Energy & ports: PNG hosted PRETMM6, ending with the Manubada Call to scale maritime connectivity and energy access across the Blue Pacific. Renewables finance: PNG’s energy authority and GGGI signed an MoU to mobilise climate finance for renewable power.

Fuel Crisis Fallout: PNG PM James Marape has apologised after weekend fuel shortages and panic buying, blaming delays in government payment processes and announcing a K190 million support package to stabilise prices from May to mid-June. Fuel Market Shift: PNG CORE says suppliers will move to market-based pricing from May 15 as subsidy reimbursements remain delayed and uncertain. Diplomacy & Trade: Marape is in France for climate and trade talks with President Emmanuel Macron, as PNG and South Korea mark 50 years of diplomatic ties with pledges to deepen cooperation in clean energy, digital transformation and climate action. Blue Pacific Connectivity: Pacific energy and transport ministers wrapped up PRETMM6 in PNG with the Manubada Call to scale maritime connectivity and speed up implementation of energy access plans. SME Push: BSP urged SMEs to build capability now to benefit from PNG’s coming project super-cycle. Community & Education: Ok Tedi’s Misima Minerals donated food supplies to Misima Correctional Services, while Svitzer PNG and Buk bilong Pikinini delivered 2,000 books to Evedahana schools and ran a tugboat learning excursion for students.

Workplace Safety Push: A new Pacific online campaign launched by Fiji Women’s Rights Movement, with PNG’s Business Coalition for Women and partners, is calling for an end to violence and harassment at work, citing alarming PNG figures where 71% of women surveyed reported workplace harassment or violence, and urging governments to ratify and enforce ILO Convention 190. SME Super-Cycle Prep: BSP is urging PNG small and medium businesses to build capability now to cash in on the coming resource project “super-cycle,” pointing to major LNG, copper and energy developments and BSP’s K1.2b modernisation push. Oil Milestone: Santos says first oil from its Pikka Phase 1 project in Alaska is now imminent, marking a major production start. Roads to Growth: PM Marape says Connect PNG and the West New Britain road corridor are already linking transport to agriculture expansion, with oil palm growing along improved routes. Fuel Subsidy Tension: PNG CORE says fuel suppliers will shift back to market-based pricing after subsidy reimbursement delays, while NCD Governor Parkop insists there’s no shortage and disruptions are being handled. Energy Transition Angle: Kumul Petroleum is looking to develop smaller gas discoveries alongside PNG LNG as the country navigates the energy transition.

Energy Transition & Gas: Kumul Petroleum says PNG has plenty of gas, but “short of time” as it pushes smaller discoveries toward commercial development, including talks over licences such as PDL10 in Western Province. Mining & Finance: Harmony reports a strong Q3 and stays on track for full-year gold and copper guidance, while Ok Tedi’s Misima Minerals delivered food supplies to Misima PNG Correctional Services. SME Push: TISA Bank held an SME road show in Alotau, and BSP urged SMEs to build capability now to benefit from PNG’s coming resource “super-cycle.” Fuel Shock Watch: PNG CORE says fuel suppliers will move to market-based pricing from May 15 after subsidy reimbursement delays, while NCD Governor Parkop insists there’s no fuel shortage. Urban & Ocean Agenda: ADB and NCD discussed Port Moresby investments, and PNG used the Melanesian Ocean Summit to renew commitments to the Melanesian Ocean Corridor of Reserves.

Fuel Crisis Watch: PNG CORE says fuel suppliers will shift back to market-based pricing after delays in government fuel-subsidy reimbursements, warning some service stations may face disruptions even as it insists there’s no shortage. Political Stability: Prime Minister James Marape welcomed PNG’s Supreme Court ruling upholding the constitutional amendment that blocks repeated no-confidence motions after one fails. Regional Diplomacy: Marape is set for a France state visit (May 19–21) to deepen ties across diplomacy, defence, climate and business, while PNG also moves to strengthen cooperation with the newly elected Solomon Islands PM Matthew Wale. Health & Services: International paediatric surgeon Professor Paddy Dewan has arrived to review serious child cases in Port Moresby, and the Teaching Service Commission launched its corporate plan, development plan and official website to modernise teacher support. Connectivity: TelkomGroup inaugurated the Pukpuk submarine cable system, boosting cross-border digital links between Indonesia and PNG.

Fuel Subsidy Fallout: PNG CORE says fuel suppliers will shift back to market-based pricing from May 15 after months of delayed government reimbursements under the subsidy scheme—raising the risk of short-term retail disruptions even as it insists there’s no shortage. PM Warns Bureaucrats: Prime Minister James Marape has threatened sackings over the delays, pointing to K576m sitting in a Central Bank trust account and K246m already released, but not moving fast enough to keep service stations running. NCD Assurances: NCD Governor Powes Parkop counters panic in Port Moresby, saying Marape has assured him supplies are adequate and the price issue will be fixed today. City Development Push: Parkop also met the ADB’s new country director to line up future work on transport, affordable housing, water and sanitation for the capital. Regional Politics: Marape congratulated Solomon Islands’ new PM Matthew Wale, pledging continued cooperation on security, fisheries, labour mobility and infrastructure.

Fuel Subsidy Fallout: PNG CORE says fuel suppliers will revert to market-based pricing after reimbursement delays, warning some outlets could be hit even as it insists there’s no shortage; the shift is effective May 15, 2026, following government efforts to keep prices at April levels. PM Pushback: Prime Minister James Marape has threatened sackings over subsidy payment delays, pointing to K576m sitting in a Central Bank trust account and K246m already released, while service stations reportedly shut temporarily. NCD Assurance: NCD Governor Powes Parkop counters panic in Port Moresby, saying Marape has assured him supplies are adequate and price issues will be fixed today. City Development: Parkop also met the ADB to map Port Moresby priorities—transport, affordable housing, and water and sanitation. Education Oversight: UNITECH is tightening controls on student subsidy funds with a planned MOU to improve district-supported fee management. Regional Politics: Marape congratulated Solomon Islands’ new PM Matthew Wale, pledging continued cooperation on security, fisheries, and infrastructure.

Fuel Shock Watch: PNG’s fuel market is set to get pricier after suppliers said they’ll revert to market-based pricing from May 15, blaming delays in government subsidy reimbursements—while NCD Governor Powes Parkop insists there’s no shortage. Regional Politics: PNG PM James Marape welcomed the Solomon Islands’ peaceful leadership change after Matthew Wale was elected PM, pledging continued cooperation on security, climate resilience and regional unity. Connectivity Boost: TelkomGroup officially launched the Pukpuk submarine cable in Papua, aiming to strengthen cross-border digital links. Education Reform: The Teaching Service Commission rolled out a corporate plan, development plan and a new website as it pushes digital transformation for teachers nationwide. Sports: Nigeria’s Falconets drew Spain, China and New Caledonia for the 2026 FIFA U20 Women’s World Cup in Poland.

Fuel Assurance: NCD Governor Powes Parkop says there’s no fuel shortage in Port Moresby or nationwide, citing firm assurances from PM James Marape and quick fixes for any temporary disruptions. Regional Politics: Marape congratulated Solomon Islands’ new PM Matthew Wale after his parliamentary election, pledging continued PNG cooperation on security, climate resilience, economic growth and unity. Connectivity Push: TelkomGroup has inaugurated the Pukpuk Pukpuk 1 submarine cable, a new cross-border digital link involving PNG stakeholders. Education Reform: The Teaching Service Commission launched its corporate plan, teacher development plan and an official website to modernise education administration and improve services for teachers. Court & Stability: Marape welcomed the Supreme Court’s dismissal of a challenge to the no-confidence motions amendment, calling it a win for long-term political stability. Maritime Security: The US warned Pacific illegal fishing and drug networks are exploiting enforcement gaps, and pledged expanded security funding and surveillance. Business & Finance: K92 Mining reported record Q1 results as Kainantu expansion progresses, while TISA Bank ramps up SME outreach and opens a new Enga branch.

Worker Benefits Backlash (US): TTEC, Deloitte and Zoom are cutting employee perks—like 401(k) matches, parental leave and family-planning reimbursements—while citing cost pressures and AI investment. Gold Market Snapshot: China remains top gold producer, but Africa’s share is rising fast, with Ghana and Mali among key players. Business Leadership: Andrew Cairns has been appointed President of the Australia–Papua New Guinea Business Council, pushing closer trade and investment links. Education Digital Push: PNG’s Teaching Service Commission launched its corporate plan, teacher development plan and an official website to modernise services. Politics & Stability: Prime Minister James Marape welcomed a Supreme Court ruling upholding the no-confidence amendment, saying it protects long-term stability. Gas & Energy Outlook: Kumul Petroleum says PNG’s gas future is just starting beyond big LNG projects. Ocean Protection Momentum: PNG signed intent steps toward a Western Manus Marine Protected Area, aligning fisheries protection with the 30-by-30 goal. Diplomacy Moves: Marape announced PNG will open new embassies across the Pacific, including the Marshall Islands, Tonga and Vanuatu.

Oil & Gas: First sellable oil from Santos’ Pikka field in Alaska is “imminent,” with the operator giving journalists a look at the Nanushuk Processing Facility—another milestone for a North Slope project billed as the biggest in decades. PNG Politics: Prime Minister James Marape says PNG’s Supreme Court ruling upholding Constitutional Amendment No.48 is a win for stability, blocking repeated motions of no confidence after failed attempts. Ocean Economy & Security: At the Melanesian Ocean Summit, PNG pushed deeper protection—signing intent for the Western Manus Marine Protected Area and announcing a Western Manus National Marine Sanctuary—while the US warned illegal fishing and drug networks are exploiting Pacific maritime gaps. Regional Diplomacy: PNG is expanding its diplomatic footprint with planned embassies across the Pacific (Marshall Islands, Tonga, Vanuatu) and a sister-province partnership with Cook Islands’ Central ties. Mining & Finance: K92 Mining posted record Q1 results as Kainantu expansion progresses; TISA Bank rolled out direct yuan settlements for PNG-China trade and continues SME outreach.