The PNG government could be forced to sell its shares in Oil Search to ease pressure on the country's economy in the face of plummeting prices on the world oil markets.
The shares have dropped in value by around 500 million kina, that's around $235 million, since the government funded their purchase with a controversial loan. When former government advisor Paul Flanagan suggested those falling oil prices would impact on the revenue generated by PNG's liquid natural gas exports, he was heavily criticised. But now a study by the ANZ bank is backing Mr Flanagan, suggesting that LNG revenue could decline by as much as half a billion dollars next year. ABC News
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