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Still no new takers in deregulated domestic fuel market

Despite the relaxation of regulations for foreign investors to enter the fuel import and distribution business in Myanmar, no new companies have entered the market over the last year, said U Thant Sin, vice chair of Supervisory Committee for Petroleum and Petroleum Product Enterprises at a press conference on October 11. Previously, the Ministry of […]

Government seeking solution to tackle fuel price hike: Spokesperson

The government is working to deal with rising fuel oil prices as it increased transportation costs and has an impact on commodity prices, said Zaw Htay, Spokesperson of Myanmar President’s Office, at a press conference held in the President House in Nay Pyi Taw on October 5. “Transportation costs have increased by 10 per cent […]

Over the last year, Myanmar’s energy sector stumbles in right direction

Home to one of the world’s oldest oil and gas industries, oil exploration in Myanmar began in the early Bagan era. During the reign of King Anawrahta in the Bagan Era, evidence shows that the Buddha’s Three Teachings were coated with oil to prevent damage. With the nationalisation of the oil industry in 1963, the […]

Amid political challenges, Myanmar prizes UK investment for economic renewal

With Myanmar’s new Investment Law coming into force over a year ago, along with a soon-to-be implemented Companies Law, the government hopes its liberalisation and decentralisation efforts will help secure new British investment and support to move the economy forward. UK expertise is seen as particularly vital for Myanmar to develop a strong financial services […]

Dialogue on Pakbaeng Hydropower Project Begins

CHIANG RAI PROVINCE, Thailand (Vientiane Times/ANN) – The first dialogue meeting of the Pakbaeng Hydropower Project on the Mekong River yesterday took place to further react with the recommendations raised by the Mekong River Commission in regards to the PNPCA process of the project. Officials from the Thailand National Mekong Committee Secretariat (TNMCS) and Lao […]

MOSB – the first foreign company to build an oil and gas supply base

MOSB Limited (MOSB), has received approval from the Myanmar Investment Commission (MIC) on 11July, 2017 to build and operate a supply base in Mon State, with the endorsement from the Ministry of Energy. The establishment of a supply base will support the fast-growing oil and gas industry in Myanmar and provide necessary infrastructure, health, education […]

North Sea Expertise Supporting Myanmar’s Deep Water Exploration

The Secretary of State for Scotland David Mundell visited Myanmar on April 3-5 to promote and discuss developments of UK-supported projects in offshore oil and gas sector. The projects were initiated back in September 2015 when U Pe Zin Tun, as permanent secretary of the Ministry of Energy, led a delegation to Aberdeen. With the […]

The Key to Jumpstarting Myanmar’s Economy: Electricity

It’s no secret that the National League for Democracy (NLD) faces myriad challenges in improving Myanmar’s socioeconomic situation. In fact, its biggest challenge might be deciding which issues to address first. Led by Nobel Laureate Aung San Suu Kyi, the NLD has made the peace process, which is aimed at ending decades of strife between the […]

IOC bids for fuel marketing and retail rights in Myanmar

New Delhi: State-run Indian Oil Corp (IOC) has bid for rights to import, store and distribute petroleum products in Myanmar. “We have put in a bid to enter fuel marketing and retail business in Myanmar,” a senior company official said. Myanmar Petroleum Products Enterprise (MPPE) last year invited companies to form a joint venture for […]

No longer a backward nation’: Myanmar launches first stock exchange

The bourse is currently open only to domestic investors and firms, although there are plans to allow foreign involvement in the future. Myanmar launched its first stock exchange with just one listed company on Friday, with hopes the move could aid the country’s economic rise as it emerges from decades of isolationist military rule. The […]