MOGE owes more than US$1.6B even as domestic demand rises

Myanmar owes China more than US$1.6 billion which it borrowed on high interest to implement projects including an oil and gas pipeline, according to a Myanmar Alliance for Transparency and Accountability (MATA) statement released based on an Extractive Industries Transparency Initiative report.   It has so far repaid more in interest than the amount borrowed..
Read more

K3 trillion more expected from higher power tariffs

The government is expected to collect K3 trillion more from the electricity generation in fiscal 2019-2020 compared to the previous year now that power tariffs have been raised since July, Deputy Minister of Planning and Finance U Maung Maung Win said in the Pyidaungsu Hluttaw (Assembly of the Union) on Wednesday.   He added that..
Read more

Malaysian investors attracted to Myanmar despite rift over Rakhine

Investors from Malaysia say they are attracted to Myanmar’s agriculture and other industries despite the rift between the two governments since the northern Rakhine crisis.   “Malaysian businesses are keen to invest in sectors such as technology, construction, manufacturing, and service in Myanmar. They showed extra interest in agriculture-based businesses,” said Gilbert Lee, president of..
Read more

PTTEP raises sales volume to 8.5% this year

Exploration and Production Public Company Limited targets to increase its sales volume for five years term.  Photo : mna   PTT Exploration and Production Public Company Ltd has raised its sales volume of 318,000 barrels of oil equivalent per day (BOED) to 345,000 barrels, or 8.5 per cent, for 2019 from its natural gas and..
Read more

Myanmar to call international tender for power delivery

Myanmar will hold an international tender for gas to be delivered to the country via floating power plant to generate the electricity required to meet rising demand in Yangon by summer 2020, a senior official from the Ministry of Energy and Electricity (MOEE) told The Myanmar Times. “We will invite an international tender. We will..
Read more

PTTEP to invest in new Myanmar gas fields next year

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..

Read more