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..
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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..

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Better oil and gas deals needed in the future, say experts

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,..

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Kyaukphyu port: What happens next?

Commerce minister U Than Myint (right), shakes hands with Hong Liang (left), Chinese Ambassador to Myanmar, after the signing ceremony of the framework agreement on Kyaukphyu special economic zone in the capital. Photo – EPA After more than two years of negotiations, the Myanmar government and China’s state-owned CITIC Group signed the framework agreement for..

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Gas pipeline at Zawtika to be replaced

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..

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Higher US interest rates, oil prices crimping economy

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..

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