This afternoon's swoon in shares of InterOil (IOC -8.5%) may be traced to rumors the company is...

|About: InterOil Corporation (IOC)|By:, SA News Editor

This afternoon's swoon in shares of InterOil (IOC -8.5%) may be traced to rumors the company is running into issues with its Papua New Guinea project. In November, the government approved a proposal to build a 3.8M/year metric ton liquefied natural gas plant; since then, IOC has been working on a modified project agreement and securing a recognized operator of the proposed facilities.