PNG scrutinises Santos-Oil Search merger
PNG scrutinises Santos-Oil Search merger
The government of Papua New Guinea (PNG) has raised concerns that Santos’ proposed $15.5 billion merger with Oil Search could harm national interests in the liquefied natural gas (LNG) exporting country.
The deal will make Australia’s Santos the biggest shareholder in PNG’s largest resource project, the PNG LNG project, operated by ExxonMobil.
Deputy Prime Minister Samuel Basil warned this deal would harm the national interest as a merger could potentially lead to job losses, a foreign company owning too much of domestic oil and gas resources, and a delisting of Oil Search, which makes up 31% of the country’s stock market, reported Reuters.
Select Sector 
Select Country 
