‘Tremendous opportunity for growth’ identified in the BIMSTEC region

Participants at a Yangon roundtable discussion today point to largely untapped opportunities for trade, communication and cultural exchange in a region of 2.5 billion souls. Parami Roundtable and Mizzima Media Group organised a roundtable on Myanmar and BIMSTEC to commemorate the celebration of 20 years of BIMSTEC. BIMSTEC, known as Bay of Bengal Initiative for […]

On PM Narendra Modi’s visit, Myanmar to receive first lot of diesel from India

NAY PYI TAW: The first consignment of high speed diesel from India will reach Myanmar on September 3, Parami Energy Group CEO Ken Tun has said. Ken Tun told Mizzima News that his group is importing the diesel under a joint venture agreement with India’s Numaligarh Refineries or NRL. Two trucks, each loaded with 4,000 […]

Numaligarh Refinery becomes Myanmar’s sixth fuel retailer

Assam-based Numaligarh Refinery (NRL), in joint venture with Parami Energy Group, has entered the fuel retailing business in Myanmar. NRL, a subsidiary of BPCL, becomes the sixth fuel retailer in Myanmar, which includes Shell, Total and a clutch of companies from Vietnam and Thailand. Two road tankers, carrying approximately 4,000 gallons of fuel each, will […]

‘Mini Grids’ Coming to Light Up Rural Myanmar

YANGON — With the nationwide power supply network far from reaching small localities across Myanmar, projects to set up “mini grids” for villages are gaining traction. The unplugged areas Many parts of Myanmar are still not connected to power grids. One example is a village located an hour and half by car from Mandalay — the […]

Coal power central to gov’t energy plans

Myanmar’s energy sector will require investment of between US$30 billion and $40 billion over the next 15 to 20 years, and should focus on coal power, according to the government’s Energy Master Plan, published last month. Domestic energy consumption is forecast to almost double to 21.9 million tonnes of oil equivalent (mtoe) in 2030 from […]

Foreign business takes stock of the NLD

As Myanmar prepares itself for historic elections in November, Daw Aung San Suu Kyi’s National League for Democracy (NLD) encourages voters to “vote for change”, a slogan that has left investors worried about what that would mean for their businesses. The uncertainty about the NLD’s economic policy stems largely from a campaigning environment in which […]

Kyaukphyu bidders come from China

The ongoing tender to build portions of Kyaukphyu special economic zone has attracted interest almost entirely from Chinese firms. Of the total 12 companies that have so far entered bids, 11 are from mainland China and the other one is a local company, according to a businessperson close to the situation. The Bid Evaluation and […]

Critics call for fairness in selecting developers for deep-sea port and SEZ

As the developers for the Kyaukphyu deep seaport and several special economic zone (SEZ) projects will be selected in late January, critics are calling on authorities not to give Chinese developers precedence over other international companies. Thilawa SEZ, Dawei SEZ and Kyaukphyu SEZ have been mapped in Myanmar. Kyaukphyu SEZ is the only one with […]

Govt can renegotiate gas-export contracts, Parami CEO says

Myanmar should renegotiate its gas-export contracts with neighbouring countries to solve its energy crisis, Parami Energy Group chief executive officer Pyae Wa Tun said, suggesting that about half of the natural gas being exported should remain in Myanmar. Renegotiating the contracts would free Myanmar from the need to pursue environmentally risky large-scale hydropower projects and […]

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 […]