Myanmar proposes to include $2.5-bn Mee Lin Gyaing Project in early projects of China-Myanmar Economic Corridor

Myanmar is proposing to include the Mee Lin Gyaing Project including a LNG power plant and gas pipelines connecting with Yangon with an estimated investment value of US$2.5 billion in the list of early harvest projects of the China-Myanmar Economic Corridor (CMEC), state-run newspapers reported. Three Chinese companies – Union Resources and Engineering Company (41%),..

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MOEE refutes fuel shortage rumours saying it has 45m gallons of petrol, 70m gallons of diesel in stock

Fuel shortages are impossible as Myanmar still has a stock of about 45 million gallons of petrol and about 70 million gallons of diesel including Thilawa fuel tanks, according to the Petroleum Products Regulatory Department under the Ministry of Electricity and Energy (MOEE). The department was responding to the questions from People Media and MHT..

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Legal action for illegal trade in foreign currencies, cash payments in exchange for bank deposits through percentage

Myanmar will take action against those carrying and trading foreign currencies illegally and those who hold cash exchange the kyats deposited in the bank account by taking a percentage, according to the Gold and Financial Markets Overseeing Working Committee. The committee announced that complaints could be lodged against those who involve in committing acts that..

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TotalEnergies won’t seek compensation for Myanmar exit

  France’s TotalEnergies said Wednesday that it would not seek financial compensation for its withdrawal from Myanmar over concerns about human rights abuses since a coup last year. The French energy giant and US partner Chevron announced in January that they would pull out of the Yadana gas field, with TotalEnergies citing the “worsening” situation..

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