European investment in Myanmar rises

Investment from European countries in Myanmar has increased since last fiscal year, according to the Myanmar Investment Commission. Investment from European countries reached nearly US$6 billion between April and February this fiscal year, followed by the UK ($4.073 billion), the Netherlands ($989 million), France ($541 million), Luxembourg ($45 million), Switzerland ($14 million) and Norway ($11 […]

Myanmar oil and gas: optimism amid oversupplies and low prices

Despite growing calls for amending their production-sharing contracts in light of plunging oil prices, oil and gas companies operating in Myanmar are still optimistic, as gas was recently discovered in Block A-6. Xavier Preel, general manager of Total E&P Myanmar – one of the three operators of the block – said yesterday that it is […]

Myanmar oil and gas: Going against the flow

For the first time since 2004, both the price Brent Crude and US crude have fallen below $30 a barrel. Many oil and gas production centres are floundering amidst the current crisis, yet one South East Asian nation is experiencing record growth in its energy sector. Over the past 24 months, significant foreign direct investment […]

Fuel sector tops foreign investment list

The oil and gas, transport and telecommunications sectors topped the foreign investor list, with US$4.9 billion invested by the end of December during this financial year. Oil and gas came top with US$2 billion, followed by transport and telecommunications. Twenty countries, including Singapore and China, invested in these sectors. Last financial year, the total foreign […]

Tougher checks for Myanmar’s development projects

Myanmar has announced new requirements for assessing the environmental and social impacts of development projects, which have been worked up with assistance from the Asian Development Bank. The Environmental Impact Procedure specifies the type and scope of environmental assessments required for all investment projects that could cause environmental and social harm. Thet Thet Zin, deputy […]

Deepwater rigs to come to Myanmar

Deepwater production is perhaps the most complicated method of petroleum extraction – and one with which Myanmar has little experience. While there are currently four offshore platforms in the country’s waters – Yetagun, Yadana, Shwe and Zawtika – all are considered to be shallow-water projects. Yet Myanmar auctioned off the rights to explore and eventually […]

U Yan Win: After parliament, back to business

The National League for Democracy is the people’s choice, he said at his office in Yangon yesterday. “We have to follow the people’s desire.” Nevertheless, the owner of A1 Group of Companies will have plenty to keep him occupied – with the NLD in power he believes his business prospects are likely to improve. “Our […]

Panalpina opens office in Myanmar

Panalpina has opened its own office in Yangon, the largest city in Myanmar after working through agents for many years. The move follows the establishment of a civilian government in the country in 2011. “Panalpina has worked with customers in Myanmar for many years through dedicated agents,” said country Thorsten Harenberg. “We have been grateful […]

Shell offshore survey to begin next month

The Anglo-Dutch firm and its Japanese partner Mitsui Oil Exploration signed production sharing contracts with Myanmar in February for blocks AD-9 and AD-11 in the Rakhine basin, and MD-5 in Tanintharyi basin. The firms won the blocks as part of the 2013 offshore bidding round, which saw 20 blocks won by several international companies. Graeme […]

All is not smooth on the Silk Road

A new deepwater port that is planned in Myanmar could provide a big boost to the China-backed Maritime Silk Road (MSR) initiative. Yet, the problems being encountered in setting up the port at Kyaukphyu also show that overcoming ‘soft’ impediments posed by a downturn in China-Myanmar diplomatic ties, issues of human displacement, and environmental protection […]