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RNZ News
20-07-2025
- Business
- RNZ News
Wapu Sonk stands down from PNG NRL franchise board amid corruption allegations
By Papua New Guinea correspondent Marian Faa , ABC . Wapu Sonk has stood down over allegations of corrupt business dealings linked to a Chinese state-run company. Photo: ABC News / Craig Hansen In short: What's next? A powerful businessman has stood down from the board of Papua New Guinea's new NRL franchise amid corruption concerns relating to business dealings with a Chinese state-owned company. The newly established board has been entrusted with overseeing more than AU$200 million in Australian government funding to set up PNG's new NRL team, which plans to join the rugby league competition in 2028. PNG businessman Wapu Sonk led a successful campaign as chair of the PNG NRL bid in 2024, and was appointed as a director of the franchise board last month. On Friday, PNG Prime Minister James Marape said Sonk had agreed to step aside following corruption concerns reported in the Sydney Morning Herald . The concerns surround business dealings related to Sonk's role as managing director of PNG state-owned oil company Kumul Petroleum Holdings Limited (KPHL), and not the NRL franchise. An official letter seen by the ABC shows KPHL insisted that Chinese state-owned company China Petroleum and Pipeline Engineering Corporation award a subcontract to an Australian company owned by Sonk. China Petroleum and Pipeline Engineering Corporation was awarded a contract to upgrade fuel storage facilities at a major wharf outside PNG's capital. The letter suggests that failure to award the subcontracts could "compromise the project's overall success" and collaborative efforts between the Chinese Company and KPHL. Sonk did not respond to requests for comment and has not yet publicly commented on the allegations. In a statement, Marape said the allegations "raise concerns that cannot be ignored". He said the allegations against Sonk, who is not in PNG presently, were not a presumption of guilt. "Mr Sonk is entitled to due process and the opportunity to clear his name," he said. "Stepping down allows him the space to do so without casting a shadow over the franchise process or compromising the confidence of our partners. "This moment demands clarity, accountability, and the upholding of public confidence. Our national sporting future - and our international reputation - depend on it." To help the PNG franchise join the NRL, the Australian government has committed $600m over 10 years. The money will also fund community outreach programs supported by the new club. -ABC
ABC News
18-07-2025
- Business
- ABC News
Wapu Sonk stands down from PNG NRL franchise board amid corruption allegations
A powerful businessman has stood down from the board of Papua New Guinea's new NRL franchise amid corruption concerns relating to business dealings with a Chinese state-owned company. The newly established board has been entrusted with overseeing more than $200 million in Australian government funding to set up PNG's new NRL team, which plans to join the rugby league competition in 2028. PNG businessman Wapu Sonk led a successful campaign as chair of the PNG NRL bid in 2024, and was appointed as a director of the franchise board last month. On Friday, PNG Prime Minister James Marape said Mr Sonk had agreed to step aside following corruption concerns reported in the Sydney Morning Herald. The concerns surround business dealings related to Mr Sonk's role as managing director of PNG state-owned oil company Kumul Petroleum Holdings Limited (KPHL), and not the NRL franchise. An official letter seen by the ABC shows KPHL insisted that Chinese state-owned company China Petroleum and Pipeline Engineering Corporation award a subcontract to an Australian company owned by Mr Sonk. China Petroleum and Pipeline Engineering Corporation was awarded a contract to upgrade fuel storage facilities at a major wharf outside PNG's capital. The letter suggests that failure to award the subcontracts could "compromise the project's overall success" and collaborative efforts between the Chinese Company and KPHL. Mr Sonk did not respond to requests for comment and has not yet publicly commented on the allegations. In a statement, Mr Marape said the allegations "raise concerns that cannot be ignored". He said the allegations against Mr Sonk, who is not in PNG presently, were not a presumption of guilt. "Mr Sonk is entitled to due process and the opportunity to clear his name," he said. "Stepping down allows him the space to do so without casting a shadow over the franchise process or compromising the confidence of our partners. "This moment demands clarity, accountability, and the upholding of public confidence. Our national sporting future — and our international reputation — depend on it." To help the PNG franchise join the NRL, the Australian government has committed $600 million over 10 years. The money will also fund community outreach programs supported by the new club.
Yahoo
04-07-2025
- Business
- Yahoo
Sinopec Launches China's First Floating Offshore PV Project, Advancing Green Energy Innovation
QINGDAO, China, July 4, 2025 /CNW/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec"), joining hands with Shandong Province and Qingdao Municipality, has successfully commenced operations of China's first commercial floating offshore photovoltaic (PV) project in a full-seawater environment. Integrated with the pile-based floating PV project launched previously, it is the largest floating PV power station of Sinopec. The Project is set to generate 16.7 million kilowatt-hours of green electricity annually and reduce carbon emissions by 14,000 tons. Serving as a pioneering initiative, it aims to promote floating photovoltaic projects in coastal and shallow sea areas within full-seawater environments. Situated in a sea-connected water area, the floating PV utilizes the seawater surface to optimize space efficiency. Covering approximately 60,000 square meters with an installed capacity of 7.5 megawatts, the station features a zero-emission, high-efficiency, low-cost design. Its innovative structure allows the photovoltaic panels to synchronize with tidal elevations, reducing the distance between the panels and the water surface to about one-tenth of traditional pile-based structures. This design optimizes seawater cooling, enhancing power generation efficiency by 5-8% through the cooling effect. Sinopec overcame the challenges of applying PV technology in seawater environments through three key innovations: Durable Design: Specially engineered floats and supports resistant to salt mist corrosion and barnacle growth. Robust Anchoring System: An underwater anchoring system designed to withstand wind speeds of up to level 13 and accommodate tidal variations of 3.5 meters, reducing investment costs by approximately 10% compared to traditional pile-based PV systems. Enhanced Maintenance Accessibility: A streamlined inspection pathway for PV panels and cables positioned close to the water's surface, significantly improving safety and lowering operating and maintenance costs compared to conventional systems. Sinopec has previously established the country's first "carbon-neutral" hydrogen refueling station and first industrial-scale seawater hydrogen production project. Now in operation, the Project serves as the most critical link in the company's new energy industry chain to form a model of producing green hydrogen with PV-generated green electricity. Moving forward, Sinopec will further expand and construct a 23-megawatt floating PV project to strengthen the new energy supply capacity. View original content to download multimedia: SOURCE SINOPEC View original content to download multimedia: Sign in to access your portfolio
Associated Press
30-06-2025
- Business
- Associated Press
cippe to Organize Oil, Gas and Chemical Exhibition in Xinjiang, Along With Forum on Deep and Ultra-Deep E&P
URUMQI, China--(BUSINESS WIRE)--Jun 30, 2025-- 2025 Xinjiang International Petroleum & Chemical Technology and Equipment Exhibition (cippe Xinjiang) will be held on July 18-20, 2025 at Urumqi, Xinjiang, China. Supported by China Petroleum and Chemical Industry Federation, China Petroleum & Petrochemical Equipment Industry Association, Explosion-Proof Electrical Apparatus Branch of China Electrical Equipment Industry Association, Xinjiang Uygur Autonomous Region Petroleum and Chemical Industry Association, China University of Petroleum-Beijing at Karamay, cippe Xinjiang is expected to cover an exhibition space up to 40,000sqm, and gather 500+ exhibitors. cippe is one of the world's leading brands for petroleum and petrochemical exhibitions, among them, cippe Beijing is the most well-known and has successfully held 25 editions. In this March, cippe Beijing had welcomed Gerab to showcase their seamless pipes and allied components, also the attendance of visitors from UAE, Iraq, Oman, Iran, Kuwait, Saudi Arabia, Qatar and others, including companies such as United Energy, ADNOC, Aramco Asia, Qatar Lubricants & Petrochemicals, etc. Xinjiang lies in the hinterland of the Eurasian continent and adjourns countries in central Asia, south and west Asia, functions as a key gate for China's opening up, as well as an important base for oil and gas, refining, and chemical development in China. The four major oilfields in Xinjiang, namely Xinjiang Oilfield, Tarim Oilfield, Northwest Oilfield, and Tuha Oilfield, among which, there are two listed as the top 10 oilfields in China. cippe Xinjiang, which debuted in 2023, is an event to bring together oil, gas and chemical industry players in Xinjiang and Northwest China. CNOOC Energy Technology & Services (CenerTech), CNPC Xibu Drilling, XCMG, AECC GT, Anton, Dongfang Xianke, Haimo, Shenhua, Rushi, Vigor, Huaneng Cable, Shenwang Group, Yangshi Machinery, Maxwell Energy, INVT Electric, ZhongTe Vik Petroleum Machinery, Weima Pumps and others will showcase on cippe Xinjiang. Concurrently, the Third China Deep and Ultra-Deep Oil and Gas Development Forum will be held on July 18, at the conference zone of the venue, which is based on the reservoir characteristics of oilfields in Xinjiang. Academician of the CAS and CAE, management and technical personnel from science and technology departments and research institutes of CNPC, Sinopec, CNOOC, Tarim Oilfield, Huabei Oilfield, Tuha Oilfield, GWDC, Daqing Drilling, Beijing and Karamay campuses of China University of Petroleum, etc., will be invited to share. View source version on CONTACT: cippe Organizing Committee 86-10-56176962 [email protected] KEYWORD: CHINA ASIA PACIFIC INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: cippe Copyright Business Wire 2025. PUB: 06/30/2025 01:00 AM/DISC: 06/30/2025 01:00 AM
Bloomberg
13-05-2025
- Business
- Bloomberg
Sinopec Seeks $994 Million Via Bonds Exchangeable Into Stock
Sinopec, China's biggest crude oil processor, is seeking to raise HK$7.75 billion ($994 million) from the sale of exchangeable bonds to refinance existing offshore debt. A unit of China Petrochemical Corp., or Sinopec Group, is offering the bonds that will be exchangeable into shares of Hong Kong-listed subsidiary China Petroleum & Chemical Corp., terms of the deal seen by Bloomberg News show.
