Papua New Guinea’s petroleum minister on Friday flagged a standoff in talks with Exxon Mobil Corp tied to a $13 billion gas expansion, saying the U.S. oil giant was unwilling to negotiate on the country’s terms. The state’s negotiating team had set out draft terms for negotiations on developing the P’nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a “fair deal” for PNG. “It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position,” Kua said in a statement emailed …read more
Source:: Yahoo Finance
