Traders see little change to fuel prices in the short term
Oil prices have spiked by more than 6 percent since the US killed top Iranian military commander Qasem Soleimani in a drone strike ordered by President Donald Trump on January 3. Prices in Asia climbed to almost US$65 a barrel for the first time in four months on Monday amid fears that the US airstrike […]
Myanmar seeks to rekindle its dimming gas hopes
Myanmar’s government is expected to announce major new bidding for natural gas exploration, including 15 offshore and 18 onshore blocks, in a bid to give the sluggish but potentially lucrative industry a much-needed capital infusion. But while a new exploration agreement signed last month between Myanmar’s MPRL E&P Company, France’s Total and Australia’s Woodside Energy […]
Power supply to increase to over 55% in 2019-2020 FY
Electricity supply in Myanmar will increase to 55.72 percent in 2019-2020 fiscal year from 47.25 percent in 2018-2019 FY, according to budget data for 2019-2020 FY. In nearly three years, over Ks-2,327 billion was invested to generate 900 more megawatts of electricity and plans are underway to generate additional 1,000 megawatts, according to the Ministry […]
Three sectors likely to see massive inflows of FDI
In 2019-20 fiscal year, the power production sector, oil and gas sector and logistics sector are likely to see a massive inflow of foreign direct investments, said U Aung Naing Oo, Permanent Secretary of the Ministry of Investment and Foreign Economic Relations. “In 2019-20 FY, the first promising sector is electricity production and power plants. […]
Mee Laung Gyaing LNG project to commence construction soon
Construction of a power generation project in Mee Laung Gyaing, Ayeyarwady Region will take place after a power purchase agreement is signed within the first three months of the year. Zhefu Holding Group of China and local firm Supreme Trading Co will invest US$2.57 billion to build the plant. It will be powered by liquefied […]
Exploratory drilling begins at onshore block in Magwe
Italian oil and gas company Eni Spa has begun exploratory drilling at the Shwe Nan Htike Well 1, located in the onshore block RSF-5, in Magwe Region, the Ministry of Electricity and Energy (MOEE) announced. The ceremony to begin drilling at the well, located near Aung Myay Kone village, in Magwe, was attended by Deputy […]
Solar mini-grid brings power to Yesagyo’s community
Parami Energy connected 1442 households to the newly-launched mini-grid mid-December with plans to expand the coverage to more than 4000 households Magway’s Yesagyo. The first phase of the solar mini-grid has a 288-kilowatt peak capacity and involves US$1.6 million of investment in total. The renewable off-grid system received 60 percent of capital cost funding from […]
Total and Woodside ink deal with Myanmar for offshore gas project
YANGON — French energy company Total and Australia’s Woodside Energy, along with their local partner, have agreed with the government of Myanmar on financial terms for an offshore natural gas project. The A-6 project, an offshore field in the Bay of Bengal off the coast of the southwestern Ayeyarwary region, will be Myanmar’s first ultra-deepwater natural […]
