New Petroleum Minister says no more coffee shop deals

Kerenga Kua says there will be no more coffee shop deals – like the one between Peter Botten and Peter O’Neill where they agreed the disastrous and unlawful State investment in Oil Search shares (funded through the notorious UBS loan) over coffee at the Grand Papua hotel.

PNG LNG Review Must Focus On People, Says Kua

Elias Nanau | Post Courier | June 18, 2019

A sigh of relief for the aggrieved landowners and key stakeholders of the recently signed Papua LNG (liqued natural gas) – the gas project agreement will be “reviewed”.

This was the ultimate assurance from the Petroleum Minister Kerenga Kua during the handover-takeover ceremony between him and outgoing minister Dr Fabian Pok in Port Moresby yesterday.

He said the review should be done to satisfy the government and people that “it was signed in compliance with all applicable laws” and protocols and key institutions like the Bank of PNG and Treasury had been involved equitably and statutorily.

He drew applause from the conference room.

“We owe it to our people,” he said. “Leadership and government must combine and deliver back to our people.”

Mr Kua gave the assurance in front of a packed conference room of landowners, oil and gas company executives and department staff at Hideaway Hotel.

Mr Kua said although there were market forces, they would not run away and the government and people must approach it judiciously.

He said the petroleum industry was one of the biggest revenue earners but asked: “Is the level of revenue we generate enough?”

Mr Kua reminded the department staff that while there would be work to review projects and legislation.

“There is that urgent need to source money to fund the visions of the government as outlined by Prime Minister James Marape,” he said.

He noted the bold statements of making PNG the richest black nation and to take back PNG.

“The challenge or way forward has been defined, now we need money. It must start somewhere, you cannot wait,” he said.

Mr Kua said his key performance indicators would be defined by the two guiding statements made by the Prime Minister.

“It is incumbent of the leaders of today to make such vision statements,” he said.

He reminded people they may think its “insurmountable and unachievable” but 70 years ago when Kondom Agaundo from Chimbu told expatriates the next generation would learn and communicate fluently in English, it happened and today the country has a load of “intellectual workhorse”.

He appealed to petroleum staff : “We must restore the strength and prominence of the department. “It must be at the forefront of the economic departments.”

Mr Kua told everyone he did not want to have meetings with investors or anyone that is work related outside of the department and staff.

“Let’s meet at the office rather than at the coffee shop,” he said.

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Filed under Financial returns, Human rights, Papua New Guinea

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