Kumul Petroleum Holdings

EnergyNo. 3 in Papua New Guinea

Papua New Guinea

Founded

n/a

Headquarters

Port Moresby, Papua New Guinea

Ticker

n/a

Sector

Energy

Stock performance

This company has no listed ticker in our data, so there is no price chart.

History

Kumul Petroleum Holdings is Papua New Guinea's national oil and gas company, reorganized in the mid-2010s from earlier state petroleum vehicles to hold the government's stakes in the country's oil and gas projects, above all the ExxonMobil-operated PNG LNG project, which began exporting liquefied natural gas in 2014.

Business model

Kumul holds and manages the state's equity in petroleum projects, receiving its share of LNG and condensate revenues, and is pursuing participation in new projects such as Papua LNG, led by TotalEnergies. It has also expanded into domestic gas and power ventures.

Market position

Kumul is PNG's main state petroleum company and a minority partner alongside ExxonMobil, Santos, TotalEnergies, and other international companies in the country's major gas developments.

Country impact

PNG LNG transformed Papua New Guinea's economy when it began exporting, sharply boosting GDP and exports, and Kumul is the main vehicle through which the state captures a share of that value. How well those revenues are managed and shared with landowners has been a persistent public debate.