Will Myanmar’s government cancel Woodside Petroleum Limited’s contracts?

Woodside Petroleum Limited’s (ASX: WPL) dealings with the brutal Myanmar government appear to be getting murkier.The energy company has been touting the prospective lucrative returns it hopes to gain from its investment in Myanmar. “Woodside is one of the largest offshore petroleum acreage holders in Myanmar,” according to the company’s website “Collectively, our nine permits […]

In Yangon, one Kachin entrepreneur pursues global dreams

It has been ten years since Ko Zin Myo Htik, owner of Myanmar Gasket (MG), left his hometown in Moe Kaung city, Kachin State, for Yangon, where he is now pursuing his dream of building a Myanmar gasket factory supplying international-quality gaskets to the global market. A gasket is a mechanical seal which fills the […]

Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]

European investment in Myanmar rises

Investment from European countries in Myanmar has increased since last fiscal year, according to the Myanmar Investment Commission. Investment from European countries reached nearly US$6 billion between April and February this fiscal year, followed by the UK ($4.073 billion), the Netherlands ($989 million), France ($541 million), Luxembourg ($45 million), Switzerland ($14 million) and Norway ($11 […]

Myanmar oil and gas: optimism amid oversupplies and low prices

Despite growing calls for amending their production-sharing contracts in light of plunging oil prices, oil and gas companies operating in Myanmar are still optimistic, as gas was recently discovered in Block A-6. Xavier Preel, general manager of Total E&P Myanmar – one of the three operators of the block – said yesterday that it is […]

Myanmar oil and gas: Going against the flow

For the first time since 2004, both the price Brent Crude and US crude have fallen below $30 a barrel. Many oil and gas production centres are floundering amidst the current crisis, yet one South East Asian nation is experiencing record growth in its energy sector. Over the past 24 months, significant foreign direct investment […]

Fuel sector tops foreign investment list

The oil and gas, transport and telecommunications sectors topped the foreign investor list, with US$4.9 billion invested by the end of December during this financial year. Oil and gas came top with US$2 billion, followed by transport and telecommunications. Twenty countries, including Singapore and China, invested in these sectors. Last financial year, the total foreign […]

Tougher checks for Myanmar’s development projects

Myanmar has announced new requirements for assessing the environmental and social impacts of development projects, which have been worked up with assistance from the Asian Development Bank. The Environmental Impact Procedure specifies the type and scope of environmental assessments required for all investment projects that could cause environmental and social harm. Thet Thet Zin, deputy […]

U Yan Win: After parliament, back to business

The National League for Democracy is the people’s choice, he said at his office in Yangon yesterday. “We have to follow the people’s desire.” Nevertheless, the owner of A1 Group of Companies will have plenty to keep him occupied – with the NLD in power he believes his business prospects are likely to improve. “Our […]

Panalpina opens office in Myanmar

Panalpina has opened its own office in Yangon, the largest city in Myanmar after working through agents for many years. The move follows the establishment of a civilian government in the country in 2011. “Panalpina has worked with customers in Myanmar for many years through dedicated agents,” said country Thorsten Harenberg. “We have been grateful […]