​Kumul Petroleum Holdings Limited

PM shows interest in LNG revenues

His response came after Member for Moresby North-West, Sir Mekere Morauta, asked in Parliament if the company’s financial books can be made public.

Sir Mekere said: “There is a shortfall of K974 million as per the report from Treasury, and a K2 billion (shortfall), also according to Treasury. Why is this money still sitting out there? Prime Minister it’s reported that growth profit for Kumul Petroleum for 2017 was K1.4 billion but expenses, donations, debt payment and impairment and other costs, ate that K1 billion with only K300 million to be paid to the state.

KPH to know by May pre-feed results

KPHL Managing Director, Wapu Sonks, says the Pre-liminary Front End Engineering Dsign (Pre-FEED) is expected to be concluded in May  and will determine the viability technical and economic viability of moving ahead with the gas reserve aggregation project.

In his address during day one of the Inaugural Petroleum & Energy Summit in Port Moresby, Sonk said, so far KPHL has carried out several activities to prepare for the proposed pipeline.

They include: