PETRONAS Withdraws from Yetagun Field Offshore Myanmar

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..

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Yoma Strategic invests Ks 105 billion in Kawtthaung Hill Development Project

MYEIK—Yoma Strategic Holdings and First Myanmar Investment Company (FMI) will be investing Ks 105 billion in Kawtthaung Hill Development Project which includes international standard Museum, Hotel and Villas, according to the sources. The project will be implemented on 1199 Mountain situated in Kawtthaung Township, Kawtthaung District, Taninthari Region. The officials explained about the Environmental Impact..

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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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