A 170MW solar power plant in Minbu Township, Magwe Region, will start producing electricity in time for summer next year, said U Lin Naing Oo, business development department general manager of GEP (Myanmar) Co Ltd. The Thailand-based company is investing US$297 million in the solar project, which is Myanmar’s first. Electricity generated from the plant..
Piya Sukhum-Panumet, general manager of PTTEP Myanmar Asset. Shin Moe Myint/The Myanmar Times With fresh oil and gas reserves at Myanmar’s offshore blocks now approved for commercial activities, the Ministry of Energy and Electricity (MOEE) will invite international tenders for up to 31 oil and gas exploration fields in early 2019. The last round of..
Buyers examine raw jade displayed prior to an auction during the November Gems Emporium in Nay Pyi Taw on Tuesday. The Gems Emporium runs through Saturday. Photo – EPA Myanmar yesterday opened the first Mineral Development Bank (MDB) to provide banking services to small and medium size enterprises (SMEs) in the gems and mineral sector…
Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance Institute,..
An offshore platform at Zawtika, Moattama Gulf. Photo – Supplied The replacement of a gas pipeline at the Zawtika project, offshore of Myanmar, will be conducted to reliably supply gas to Myanmar, said Mr. Piya Sukhumpanumet, general manager of PTTEP Myanmar Asset. Mr Piya was speaking to journalists during a media tour to Zawtika, located..
US Federal Reserve Board Chairman Jerome Powell. Photo – EPA Higher US interest rates and global oil prices are putting pressure on Myanmar’s economy. The US Federal Reserve Bank has raised interest rates three times so far this year. The latest increase of a quarter percentage point in the benchmark federal funds rate, lifting it..
The Ministry of Electricity and Energy (MOEE) officially announced that the ShweYee Htun-2 appraisal well at offshore block A-6 near Rakhine State is able to produce natural gas for commercial purposes. However, U Win Khine, Union Minister of the MOEE, did not provide a timeframe on when the profit sharing contract (PSC) for development of..