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Malaysian investors attracted to Myanmar despite rift over Rakhine

Investors from Malaysia say they are attracted to Myanmar’s agriculture and other industries despite the rift between the two governments since the northern Rakhine crisis. “Malaysian businesses are keen to invest in sectors such as technology, construction, manufacturing, and service in Myanmar. They showed extra interest in agriculture-based businesses,” said Gilbert Lee, president of Malaysian […]

New prospects in Myanmar’s oil and gas blocks

Next month, 15 offshore blocks and 18 onshore blocks will be put up for tender. It is Myanmar’s second international bidding and local and foreign oil firms are interested in participating. But how much oil and gas is present? Are more discoveries possible? Which blocks have potential? Industry watchers may wish to know. Among the […]

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 […]

PTTEP to raise investments in Myanmar offshore projects to maintain gas production

Since 2014, a total of 345 million cubic feet of natural gas for daily domestic consumption and export to Thailand is channeled from the offshore Zawtika Project in the Gulf of Moattama to the Zawtika Operation Center (ZOC) in Kanpauk Township, Tanintharyi, said Mr Piya Sukhumpanumet, general manager of PTTEP Myanmar Assets. Natural gas, which […]

Govt coffers held back by SOEs: EITI

A representative of the Extractive Industries Transparency Initiative (EITI) said Myanmar’s government fails to understand the severity of how the so-called Other Accounts of state enterprises are holding back the country’s development. EITI will be organising a workshop on reforming state-owned enterprises (SOEs) engaging in this sector will be held mid-February, according to EITI trilateral […]

Prospects for oil and gas in 2019

A new draft of the petroleum law has been tabled. After the bill is amended, Hluttaw will enact in. However, before in comes into force, it can be amended if the people provide suggestions. Will the new law be effective in the case of the oil block tenders that will be called soon and for […]

Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

State-owned Thai oil company unit to invest more in Myanmar

BANGKOK — Thailand’s PTT Exploration and Production, a subsidiary of Thailand’s national oil and gas conglomerate PTT, plans to greatly expand its investment in Myanmar. The company aims to join a new round of bidding for oil and gas exploration rights, due to open by the end of this year, in hopes of cashing in […]

Myanmar’s state-owned enterprises show how much reform is still needed

NOTHING has been made in the engine factory in Thagaya, in the south of Myanmar, since April last year. Yet around 350 employees still turn up each day. In 2016 government-owned factories like this one made a loss of more than $200m. When Myanmar moved from military dictatorship to a form of democracy, its new […]

Elite Petrochemical launches first private-sector LPG project in Myanmar

Elite Petrochemical Co launched its Liquefied Petroleum Gas (LPG) Terminal and Port Facility at the Thilawa Special Economic Zone on Saturday. The terminal is the first private sector-led LPG investment open for business in the country. The terminal was developed under a Build, Operate and Transfer (BOT) agreement across 49 acres of land in Thilawa […]