Natural gas export earnings decrease by over US$35million

Natural gas export earnings as of the end of May this FY hit over US$230million, a decrease of over US$35 million from the same point last year, according to the Commerce Ministry. Natural gas exports accounted for 45 per cent of the country’s total export earnings, followed by the garment sector with 17 per cent. […]

US$2,541million invested in hotel and tourism sector

A total of 65 foreign investment projects have been permitted to invest US$2,541.091million in the hotel and tourism sector in a three-month period, according to the statistics of the Directorate of Investment and Company Administration (DICA). These 65 foreign investment projects were granted permission between the end of August and the end of October, with […]

Oil and gas exploration to start this year

Successful bidders for oil and gas contracts will start exploration in late 2015 or early 2016, according to a conference on the potential of the oil and gas sector held at the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon. Dr Aung Kyaw Htoo, managing director of Dare Co Ltd, said: […]

Despite challenges, FDI in energy sector set to surge

While Myanmar faces a host of challenges, like other developing nations, its oil and gas sector is likely to win more foreign investment in the years to come, participants in the “Offshore E&P Summit Myanmar 2014” were told. Aung Kyaw Htoo, deputy director of the Energy Planning Department, said foreign investments in the nation’s energy […]

Oil and gas and the debate over ‘quality’ investment

Not enough Myanmar companies are benefitting from foreign investment in the oil and gas sector, says Parami Energy group chairman and chief executive officer U Ken Tun. U Ken Tun says that of the companies operating in or providing services to the sector, fewer than five percent are Myanmar. Most of the foreign companies in […]

$670m in oil and gas investments approved in August, says DICA

The oil and gas sector comprised US$670 million (about K670 billion), or nearly a third, of foreign investment totalling $2.443 billion approved in August, show figures from the Directorate of Investment and Companies Administration. The oil and gas sector comprised 13 of the 48 companies with investments approved last month, DICA said. The August figure […]

Oil firms draw most rights complaints

The oil and gas sector continues to draw the most complaints regarding transparency and human rights practices in Myanmar, according to a survey conducted by business watch groups and released last week. Some 47 percent of allegations recorded by the report released from the Business and Human Rights Resource Centre (BHRRC) were addressed at the […]