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24 May 2018

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Smiled at the authors of Bloomberg report calling PNG ‘tiny nation’ typical western idea from looking at their school atlases.

As I wrote recently why is PNG allowing an exploitation cartel for its energy reserves by allowing Esso, Total & Oil Search to collude in next major LNG project.

Below the Bloomberg article reported here was another energy item: ‘Exxon to Slash Gas Flaring 25% by 2020 in Emissions Push.’

When flying over oil fields in latter part of 20th century I always wondered why there were so many managed fires near the oil derricks.

Now I know the oil companies don’t own the wasted gases and so couldn’t care less about trying to use them. Surely it would enhance profits and importantly cut down polluting emissions.

The oil Papua Gulf explorers in 1980s thought it was OK to set light PNG’s gas after they found what they wanted under the seabed.

Finally I ask again why did Esso want a 700 km pipeline rather than a refinery in the Gulf Province?

Recently read: The latest 336 metre-long Venturer is the last of three offshore LNG giants to make the voyage to the Browse Basin in West Australia.

Apparently each giant ship is a floating production, storage and offloading facility that can directly export frozen LNG worldwide. It is cyclone proof and hold over one million tonnes at any time.

So PNG’s Gulf people are right in wanting such facilities within the province rather than kowtow to Esso et alia for it to be refined in Moresby.

Here's another quote from the report:

"But often, citizens of poor or underdeveloped countries see little or no benefit from commodity extraction by foreign companies because their governments were inept, corrupt or both -- a symptom of what economists call the resource curse".

Sums up PNG to a tee.

"The tiny, impoverished nation of Papua New Guinea"
The short, irresponsible PM of Papua New Guinea

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