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Govt, investors must give and take for more oil and gas profit: expert

Prospects in the Myanmar oil and gas sector are expected to improve this year, with the government planning to hold its first international exploration and production tender since 2015 next month. On February 22, the Ministry of Electricity and Energy (MOEE) announced that it will be holding international tenders for 18 onshore and 15 offshore […]

MOEE to drill for natural gas in Magwe

A test oil well will be drilled in Myaing township, Magwe Region to determine the presence of oil or gas, U Nyan Tun, deputy managing director from Myanmar Oil and Gas Enterprise (MOGE) , said during the Ministry of Energy and Electricity’s (MOEE) month press conference yesterday. It will be the first time a test […]

Over $231m paid so far for Chinese oil and gas loans

Myanmar loaned over US$1.6 billion from China for three oil and gas projects and has paid back over US$231 million plus interest of over US$418 million, according to a press conference on the report of EITI (Extractive Industries Transparency Initiative) for 2014-2015 fiscal year and 2015-2016 FY. The press conference was held at Sule Shangri […]

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 […]

Myanmar exports 2m tonnes of oil via pipeline over 4 months

OVER 2 million tonnes of crude oil has been exported to China through the Myanmar-China pipeline, according to U Toe Aung Myint, permanent secretary of the Ministry of Commerce (MOC). The pipeline connecting Made Island in Rakhine State to Kunming, capital of China’s Yunnan Probince was inaugurated on May 2, 2017. By September 1, the […]

Beset by delays, Myanmar-China oil pipeline nears start-up

Nearly a decade in the making, a project to pump oil 770 km (480 miles) across Myanmar to southwest China is set for imminent start-up, with a supertanker nearing the port of Kyauk Phyu, marking the opening of a new oil trading route. Dogged by sensitive relations between Naypyitaw and Beijing, the $1.5 billion oil […]

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 […]

Myanmar aims high for gas discoveries in the future

THE RECENT discovery of gas in Block A-6 is just the first of numerous discoveries in Myanmar, which remains an attractive frontier for international oil and gas companies despite a plunge in petroleum prices, energy officials say. Than Minn, director for planning of Myanmar Oil and Gas Enterprise (MOGE), said the country had very great […]

Government reveals energy production figures

In a rare statement on the energy sector, the government has revealed figures on the production of petroleum and natural gas. Myanmar produced 24.7 million barrels of petroleum and 2085.57 million cubic feet of natural gas between 2011 and 2015 from both onshore and offshore projects, according to a statement in state media earlier this […]

MOGE to Name Firms in End 2015 to Develop Myanmar’s Offshore Supply Bases

State-owned Myanmar Oil and Gas Enterprise (MOGE) is expected to appoint firms to develop new offshore supply bases in Myanmar later this year or early next year to support an anticipated increase in upstream activities over the next few years, a company official said Monday. “We will inform interested parties to submit prosposals in the […]