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 […]

FDI poised to flow on Myanmar’s political transition

Myanmar’s landmark November polls, lauded by international observers, may have given pause to foreign investors weighing the market — but the country’s political transition could attract a new rush of attention, according to industry experts. Once isolated under the regime of a military junta, Myanmar has made great strides in development under quasi-civilian rule. The […]

Myanmar aims high for gas discoveries in the future

THE RECENT discovery of gas in Block A-6 is just the first of numerous discoveries in Myanmar, which remains an attractive frontier for international oil and gas companies despite a plunge in petroleum prices, energy officials say. Than Minn, director for planning of Myanmar Oil and Gas Enterprise (MOGE), said the country had very great […]

Myanmar set to emerge Asian leader in oil, gas exploration

Despite the slump in energy prices, oil and gas fields in Myanmar will soon be the busiest in Asia as foreign and local investors begin to ratchet up their explorations, a recent seminar was told. Waranon Laprabang, senior vice president of PTT Exploration and Production, said oil prices are creeping up. “For now, operators need […]

TTA close to sealing Myanmar water deal

Singapore: SET-listed Thoresen Thai Agencies Plc (TTA) expects a deal to join local partners in Myanmar to invest in a wastewater management business will be finalised this month. Chief executive Chalermchai Mahagitsiri said TTA was still in talks with potential partners and the Myanmar government about the Yangon project. “We’ve been following up the wastewater […]

Mixed Reception in Myanmar for Tumbling Global Oil Price

YANGON — The plunge in global oil prices in recent months has proven to be good news for Burmese consumers, but is shrinking profit margins for the country’s crude exporters, industry observers told The Irrawaddy this week. Since June, global crude oil prices have fallen from about US$110 per barrel to $50 per barrel due […]

Thai PTTEP May Review Investment Plans if Oil Prices Fall Further

BANGKOK, Jan 6 (Reuters) – Thailand’s top oil and gas explorer, PTT Exploration and Production PCL (PTTEP), may hold off on investing in five projects including those in Myanmar, Australia and Mozambique if crude oil prices fall further. Benchmark Brent crude extended losses to touch a 5-1/2-year low of $52.28 a barrel on Tuesday, following […]

Drivers welcome oil drop

Although 2014’s worldwide fall in crude oil prices has brought some relief for those filling their tanks in Yangon, local taxi drivers say they are yet to see as much of a price drop as expected. “It’s better than before, but I’m still not too happy that local prices haven’t dropped much in Myanmar,” said […]