Myanmar received a foreign investment of US$22.77 billion in its oil and gas sector until October 2022, accounting for 24.64% of the total foreign investment, according to data from the Directorate of Investment and Company Administration. Myanmar Investment Commission allowed 249 new businesses to invest US$4.235 billion and approved further investment of US$1.291 billion..
The State Administration Council (SAC) issued Decree No. (44/2022) appointing U Myo Myint Oo as the Union Minister for Energy on August 5. The decree states that the State Administration Council has appointed U Myo Myint Oo as the Union Minister for Energy in accordance with Article 419 of the Constitution. The SAC formerly appointed..
PETRONAS’ subsidiaries, PETRONAS Carigali Myanmar Inc (PCMI) and PC Myanmar (Hong Kong) Limited (PCML) today announced their withdrawal from Blocks M12, M13 and M14 located in the Yetagun field, offshore Myanmar. The decision was made following a thorough techno-commercial review in alignment with PETRONAS’ asset rationalisation strategy for a portfolio that fits with its..
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..
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..
Yunnan Indo-Pacific Group and CNPC East China Design Institute will conduct the feasibility studies in co-orperation with local company Myanmar Chemical and Machinery Co.Ltd (MCM). MCM last month asked for permission from the Ministry of Electricity and Energy (MOEE) to conduct the study for the refinery, which will have the capacity to process 8 million..
Although earnings at PTT Exploration and Production (PTTEP) halved in the first six months of the year, the Thai oil company will continue to focus on its key major investments, which includes gas fields in Myanmar as well as Thailand, Malaysia and the Middle East, Mr Phongsthorn Thavisin, President and CEO of the company, said..
The Magwe-Shwe Taung gas pipeline will be upgraded thanks to a loan from the South Korean government, says U Kyaw Nyan Tun, deputy managing director of Myanma Oil and Gas Enterprise. “The project is one that was discussed by South Korean President Moon Jae-in during his visit to Myanmar last September. Under the project, the..
Myanmar will announce the winners for a 1060-megawatt solar project tender “very soon,” said U Soe Myint, Deputy Permanent Secretary of the Ministry of Electricity and Energy. “The announcement will be made soon and we are screening the companies. We want to be fast bust also have to be accurate as well,” he said. Power..
The Upgrading of a combined cycle gas turbine power plant in Ywama, Yangon, has been given the go-ahead by the Ministry of Electricity and Energy (MOEE). The Power plant is located in Insein township, and the US$300 million required for the upgrading will be provided by the World Bank. A tender for the project will..