summit

This is for the APEC 2018 Leaders Week and Summit.

The transportable security boats are just under 10 meters long and they will be working in between the maritime restricted areas, which have been established by the PNG Joint Security Task Force.

Areas of restricted movement and the main locations that the U.S. coast guard will be patrolling include the APEC Haus and the three cruise ships.

Mineral Resources Development Company (MRDC) Managing Director, Augustine Mano, said this on Tuesday during the Inaugural Petroleum and Energy Summit in Port Moresby.

Mano told existing and potential investors that equitable participation across the value chain of projects was needed to off-set falling oil prices which significantly affected royalty payments for landowners.

He highlighted 2016 and how low commodity prices and forex issues significantly affected landowner royalties.

Sonk made this remarks this afternoon when asked about the investors’ confidence in the country in a media conference in Port Moresby.

He said investors have already adjusted to the changing commodity prices.

“The fact still remains that the commodity prices will not change overnight but will take time to gradually change.

“Investors are beginning to accept the fact that the oil price will not change sooner but will take time.”

However, given the declining commodity prices, Sonk said investors have shown confidence to invest in the country.

Fifty climbers successfully reached the summit of the highest mountain in Papua New Guinea at 6am on Independence Day.

Mt Wilhelm summit is 4,509m high and it is located among spike range peaks in the northeast between Madang and Western Highlands provinces.

The climbers consisted of students, school teachers, guardians and parents.

The trekkers started their journey up the mountain in the morning of Thursday, September 15 and reached the summit at 6am on Independence Day.