US/MMK Exchange Rate On The Move

THE US-dollar exchange rate to MMK experienced a fall from K1,300 in 2015 to K1,100 until last April but has risen to K1,260 again recently. The rising US dollar exchange rate to MMK has led to higher prices for imported goods and local consumers have to buy imported commodities at higher prices but it is […]

MOEP Eyes to Provide Electricity to 230,000 More Households by 2017

The Ministry of Electric Power (MOEP) said it will provide electricity to roughly 230,000 more households in the country by 2017. “We are implementing this according to National Electrification Plan. The goal for each year is stated in the plan and we are trying to follow through,” U Aung Ko Ko, director from the Ministry […]

2017 EITI Report Aims for Full Membership

Myanmar submitted its first Extractive Industries Transparency Initiative (EITI) report at the beginning of January which included reports on the oil and gas, jade, gems and mineral sectors. Hydropower sector will be included in the 2017 EITI Report, according to Myanmar EITI. Myanmar currently stands as a ‘candidate country’ within International EITI and Myanmar’s inclusion […]

Novoair starts flight to Yangon

Novoair yesterday started an international flight to Yangon in Myanmar. The airline will run three weekly flights between Dhaka and Yangon on Sundays, Tuesdays and Fridays with Embraer ERJ145 aircraft, the carrier said in a statement. The airline will charge Tk 22,222 for a two-way ticket, according to the statement. Novoair is also offering a […]

Myanmar Oil Wells to Use Graphene Nanochem Product

Malaysia-based Graphene Nanochem will put its latest product, GraphSolve, to the test in the field for a national oil company in Myanmar. It is a paid trial under the group’s deal with Scomi Oiltools and the product is due to be used in three wells in work due to complete in the first quarter of […]

Shell to Start Oil Exploration This Month

The government had earlier invited tenders from international companies for onshore and offshore exploration of oil and gas and Shell won the rights for AD9 and AD11 offshore sites in Rakhine and the MD5 site in Tanintharyi. Shell will partner with Japan-based Mitsui Oil Exploration Co Ltd. The Japanese group will also own 10 percent […]

Barriers remain to technology revolution: MCRB

Myanmar’s burgeoning technology universe is beset by risks that could threaten users, according to a new report on the information and communication technology sector by the Myanmar Centre for Responsible Business. The Myanmar ICT Sector-Wide Impact Assessment (SWIA) is the third report of its kind, after MCRB published two others concentrating on oil and gas […]

Shell Seals Dawei LNG Development, Supply Deal

Dutch Energy giant Shell has signed an agreement with Italian-Thai Development Pcl (ITD) and Thailand-based energy firm LNG Plus International Co Ltd (LNGP) to cooperate on the development of a proposed liquefied natural gas (LNG) receiving and regasification terminal in the Dawei Special Economic Zone (DSEZ). Under the agreement, Shell will provide technical expertise on […]

Scramble for electricity will increase Myanmar’s reliance on imported coal

Myanmar has long struggled to provide electric power to its citizens, but a push to electrify the country in the next 15 years under the National Electrification Program has led to the drafting of a plan that pushes the boundaries of realism. Under the program, the Ministry of Electric Power (MEP) plans to raise the […]

Daewoo International CEO dismissed over Myanmar sale

POSCO has decided to dismiss Daewoo International CEO Jeon Byeong-eal for openly disapproving of its plan to dispose of Daewoo’s stake in a Myanmar natural gas project, officials familiar with the matter said Wednesday. The world’s fourth-largest steelmaker is expected to accept the resignation tendered by Jeon on May 14. Jeon and 31 other heads […]