Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]

Land Prices in Kyaukphyu SEZ Shoot Up

Strong demand from local businesspeople has seen the prices of land plots in Kyaukphyu Special Economic Zone (SEZ) shot up, realtors from Rakhine state said. Average price of farming land per acre until November 2015 ranged from K2-5 million, but now it ranges from K4-8 million, with most of the buyers being local businesspeople. “The […]

Oil and gas stumbles with price drop

Some offshore exploration activities have been delayed and natural gas exports are generating lower income. Benchmark West Texas Intermediate crude for October delivery traded for US$44.02 yesterday on global markets, vastly different from a year ago, when crude was above $100 a barrel. Faced with dropping prices without a commensurate drop in costs, many energy […]

MNA creates regional network

The airline is taking delivery of leased Boeing 737-800s that will be used to launch the routes. The next batch of new planes are expected to arrive in early October, and they will be used to start regular flights to Hong Kong and Taipei beginning in November. MNA CEO, U Than Tun, told local media […]

‘Romantic North’ reserves vital to domestic energy supply

Oil consumption in Myanmar is likely to double by 2025, meaning that new discoveries are essential to meet energy demand for the future without relying too heavily on imports. But some fear the dream of finding large proven reserves may not be realised. The likelihood of finding commercially viable reserves in recently awarded onshore and […]

Myanmar reclaiming the Asia’s rice bowl title

Dressed in Chelsea football shorts and a wide-brimmed hat, U Than Tun toils away in his paddy field on the outskirts of Yangon, sweat pouring down his sinewy arms. Gruelling work that once helped Myanmar become the world’s largest rice exporter is today a Herculean and often lonely job for farmers striving to return the […]