Myanmar offshore exploration continues despite low oil prices

Myanmar authorities announced the latest offshore activities last week through state-run newspapers. International companies have now started surveys at almost half of all blocks awarded in the 2013 bidding round. Meanwhile, production remains steady at Myanmar’s existing offshore gas fields – Yadana, Yetagun, Shwe and Zawtika – officials said. France’s Total E&P Myanmar launched 2D […]

Serge Pun calls meeting with brokers over FMI volatility

First Myanmar Investment’s chair Serge Pun called a meeting of securities companies this week following a volatile day’s trading in his company’s shares, while Yangon Stock Exchange officials said securities firms must make more effort to explain trading risks to their clients. After launching its shares on March 25, FMI – the first and only […]

Thilawa land prices still up in air after share sale

Land prices for Thilawa SEZ will be competitive with other countries’ projects in ASEAN, according to SEZ Management Committee Chair U Set Aung. Although he declined to reveal exact costs, he said that as an example it could be a couple US dollars cheaper than prices for similar Vietman industrial estates. “One thing I can […]

Businesses worry red tape will remain an obstacle despite reforms

Cutting red tape in line with regional standards is going to be an uphill struggle for many government departments, experts said, as the government has instructed its ministries to simplify bureaucratic procedures to meet ASEAN standards by the end of March. U Tin Maung Than, director and senior research fellow of Myanmar Development Resource Institute […]

Local oil and gas firms form new association

Local energy companies seeking a bigger share in the exploration and production of the country’s oil and gas resources have formed MOGSS, the Myanmar Oil and Gas Services Society, the group announced at a press conference last week. The formation of the group comes at a time when international energy giants are poised to enter […]

Oil block announcements on the way

After three months of waiting, the winners in the offshore oil and gas bidding competition are finally set to be announced next month, the Ministry of Energy said. U Htay Aung, the ministry’s chief staff officer, told The Myanmar Times on February 19 that the choice would be announced before the fiscal year ends on […]

Japan Awakes to Revamped Dawei

YANGON — After last week’s takeover of the proposed Dawei port and economic zone project by the Myanmar and Thai governments, Japan’s government and private sector are taking a renewed interest in the project after previously appearing lukewarm to the proposition. “Dawei Special Economic Zone [SEZ] is a very important project for the region,” said […]

Myanmar encourages visa-free travel between ASEAN nations

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Myanmar has invited ASEAN countries—except for Vietnam, which already has the policy—to allow visits by citizens from other ASEAN countries without requiring a visa, says the Ministry of Foreign Affairs. Myanmar will take over the ASEAN chair in the coming year and will […]