PNG loses Oil Search shares

PAPUA New Guinea notified the ASX on Monday that it is no longer a substantial holder of Oil Search shares after investment bank UBS group AG took up the position.

The shares were controversially bought by the government with a $1.3 billion dollar loan from UBS - allegedly circumventing the ‘proper processes'.

  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more

Most read Regions