MIC confirms disputed tax on FDI

The Myanmar Investment Commission (MIC) has confirmed the corporate income tax rate stands at 25 percent for companies registered under the Myanmar Companies Act or Myanmar Foreign Investment Law (FIL). The statement follows several months of discussion between various government ministries that corporate rates for some projects such as offshore oil and gas ought to […]

Petronas executive keen on an Andaman Sea future

Malaysia’s state-owned energy firm Petronas is looking at new opportunities in Myanmar as part of a regional push, according to company senior executives. The firm has won four onshore blocks and intends to participate in future bidding rounds for offshore blocks, said Encik Sharbini Suhaili, vice president of Petronas Upstream International. “We are still looking […]

Myanmar Gas Exports Worth $3.3Bln Last Year After Slight Drop

YANGON — Myanmar’s earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year. Myanmar earned $3.299 billion from the export of gas during the […]

Competition intensifies for Myanmar’s offshore oil blocks

Competition to win the contract to operate 30 offshore oil blocks in Myanmar coastal regions has intensified among Chinese, Indian and other global oil companies, said an industry observer. State-owned Myanmar Oil and Gas Enterprise (MOGE) has recently announced a list of international firms shortlisted for the tender of 30 offshore blocks- 11 in shallow […]