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the good oil

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    From the National:

    K1.95 billion earned from Q1 exports

    Record earnings boosted by higher gold, copper
    and crude oil prices in world market

    HIGHER gold, copper and crude oil prices propelled Papua New Guinea's March quarter exports to an all time quarterly record of K1.95 billion (US$546 million), according to the Central Bank.
    Bank of Papua New Guinea's quarterly economic bulletin said exports earnings for minerals and crude oil were worth K1.54 billion in the March quarter, up from K1.04 billion, and contrasted with overall exports worth K1.95 billion.
    Crude oil exports declined by 4.3 per cent to 3.75 million barrels but a 77.9 per cent jump in prices enabled export earnings to rocket ahead by 70.2 per cent to K472.6 million compared with sales worth K277.7 million in the March quarter last year.
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