A powerful earthquake has struck off the South Pacific nation of Papua New Guinea. There were no immediate reports of damage or injuries. The U.S. Geological Survey said the magnitude-7.3 earthquake was located 61 kilometers (38 miles) southwest of the town of Panguna on Bougainville Island. It struck at a depth of 50 kilometers (31 miles). The Pacific Tsunami Warning Center said there was no threat of a destructive widespread tsunami. But the agency said quakes of this size can sometimes generate local tsunamis that can be destructive to coasts within a few hundred kilometers of the epicenter. Earthquakes are common in Papua New Guinea. The country lies on the "Ring of Fire" - an arc of earthquake and volcanic activity that stretches around the Pacific Rim, AP reported.