MIC gives green-light to nine investments
Myanmar Investment Commission (MIC) granted the permits to nine new investments including CMP factories and LPG businesses at its meeting on January 11. The nine new foreign investments are: meat packaging, rice and rice mill products, animal feed production, baby chicks production, CMP garment industries, power production, LPG industry, warehouse and logistics services and vehicle […]
Local fuel prices likely to rise again
After a drop in prices of K150 a litre, fuel prices are likely to rise again within a few days according to retailers. Since December 20, local prices for fuel have been falling in line with a drop in the prices of crude oil on the international market. “But the oil prices started rising again […]
Investor opportunities rise with upcoming tender, better contract terms
The oil and gas sector is looking exciting this year, with opportunities emerging from an international tender scheduled to take place early this year for the first time since 2014. In addition to onshore and offshore blocks, the tender is expected to include work in “Improved Petroleum Recovery” blocks at older oil fields in Myanmar. […]
Electrifying Myanmar
Since sanctions by the United States (US) and European Union (EU) were lifted, Myanmar has enjoyed relatively strong economic growth. According to the Economist Intelligence Unit (EIU), Myanmar’s economy has grown at an average of 7.5 percent between 2012 and 2017. Its economy is slated to accelerate further, driven by a spike in private and […]
Deal signed for hydropower project
The Ministry of Electricity and Energy has announced the signing of a power purchase agreement (PPA) for the Upper Baluchaung hydropower project with Neo Energy Oasis Co Ltd, the builder of the project. The PPA was signed between Electric Power Generation Enterprise (EPGE), a unit of the ministry and Neo Energy Oasis on December 28. […]
Prospects for oil and gas in 2019
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 the […]
Myanmar plans to sell natural gas produced from PTTEP block mainly for local use
Myanmar is planning to sell natural gas produced from PTTEP offshore block (MD-7) mainly for local use, sources said. The PTTEP, cooperating with Myanmar Oil and Gas Enterprise (MOGE), held a public talk to discuss and explain about environmental impact assessment (EIA) test with locals from Myeik on December 13. They met with locals in […]
Myanmar energy firm plans $35m investment
DRIVEN by its vision to become an innovative leader in Myanmar’s growing energy sector, locally-owned Parami Energy Group of Companies plans to invest US$35 million (Bt1.15 billion) in its LPG (liquefied petroleum gas) business over the next three years, according to Group CEO Ken Tun, aka Pyae Wa Tun. He told a media roundtable on […]
