WASHINGTON — The U.S. business lobby says it is high time to drop the remaining U.S. sanctions on Myanmar, but human rights activists and U.S. lawmakers say not so fast. Former political prisoner Aung San Suu Kyi is now running the government after winning elections. Still, the military continues to wield considerable power. That poses […]
Can Myanmar’s Natural Gas riches reel in serious investment?
March 28, 2016 by
After five decades of oil and gas exploration stagnation and mismanagement of natural resources under military rule, Myanmar (formerly Burma) in March elected its first non-military president since the 1962 coup, and if it all plays out right, it could open the floodgates for investment in this strategically vital oil and gas venue. On 15 […]
ConocoPhillips and Statoil sign deal for deepwater block
May 5, 2015 by
Norway’s Statoil and US-based ConocoPhillips will invest more than US$300 million in the exploration and production of offshore oil and gas in Myanmar, according to an official from the Ministry of Energy (MOE). The two international oil companies signed a Production Sharing Contract (PSC) for deepwater block AD-10, located off Myanmar’s Rakhine coast, on April […]
Myanmar 2014/15 FDI swells to $8.1 bln – govt agency
March 30, 2015 by
(Reuters) – Foreign direct investment (FDI) into Myanmar has soared to more than $8 billion this fiscal year, $3 billion more than anticipated, owing to increased activity in the energy, manufacturing and telecoms sectors, a senior official said. The investments reflect growing if cautious foreign interest in one of Asia’s last remaining untapped markets, which […]
MIC gives nod to last foreign oil firms
March 26, 2015 by
The last international oil companies that must still sign Production Sharing Contracts with Myanma Oil and Gas Enterprise have now received permission from Myanmar Investment Commission, a statement said yesterday. International oil firms have been signing the Production Sharing Contracts – which govern exploration and production activities – since December, following a bidding round for […]
Myanmar’s oil and gas boom fuels services scramble
May 12, 2014 by
YANGON — As economic and political changes brewed in Myanmar four years ago, Yadana Su Hlaing decided it was time to return home after a decade studying and working overseas to help run Smart Technical Services, the Yangon-based oil and gas support services company founded by her father, K.K. Hlaing. Her timing could not have […]
India’s ONGC Videsh to get stake in Myanmar oil and gas block
April 15, 2014 by
Despite losing out in competitive bidding, ONGC Videsh Ltd (OVL), the overseas arm of state explorer Oil and Natural Gas Corp, may still get a stake in a deep-sea block in Myanmar. OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields […]
Myanmar Awards Offshore Oil and Gas Deals to Foreign Firms
March 31, 2014 by
YANGON — Myanmar’s Ministry of Energy on Wednesday announced that it has awarded international firms, mostly from Western nations, 20 areas in its waters to explore for oil and gas. The government has invited international firms to come in and help bolster state revenues by tapping into Myanmar’s oil and gas reserves, and large multinationals […]
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