SYDNEY - Papua New Guinea will start preliminary hearings on Sept. 19 into the terms of a A$1.2 billion loan from Swiss bank UBS used for an ill-fated government investment in the gas sector, the inquiry’s chairman said on Monday.
Chairman Salamo Injia, a former chief justice, said in a statement on Monday that retired Australian judge John Gilmour would also join the inquiry as a second commissioner. Oil Search Limited has a near one-third interest in the Exxon Mobil-led PNG LNG Project, where gas is extracted from PNG’s highlands region.
More broad daylight robbery.
Something smells...
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