04-05-2013, 01:52 PM
Update on Must-see-TV. The government will speak on Petromin:
"GOVERNMENT TO SPEAK ON PETROMIN
on Friday, 05 April 2013. Posted in News
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The Government confirmed this afternoon that Petromin will be dismantled and the state interests in Mining and Petromin projects will be transferred to a new entity.
A spokesman from the prime Minister’s office said Peter O’Neill will hold a News Conference tomorrow to announce details of a restructure.
He said the restructure is in line with current global practice, to ensure maximum benefits flow to shareholders and the people of PNG.
A spokesman said the restructure involves the dismantling of Petromin.
Since its inception, Petromin bought into Tolukuma mine which has become a financial burden for the company."