The United Kingdom has pledged to invest over US$385 million in Myanmar in two years time, according to statistics of the Directorate of Investment and Company Registration.
The UK invested over US$2659.954 million in March 2011, and the investment is increased to over US$3045.434 million in June 2013. China is still the biggest investor in Myanmar with more than US$14 billion. The UK is standing in 5th place behind China, Thailand, Hong Kong and South Korea.
The UK is making investment...
Myanmar's contracted foreign investment hit 43.682 billion U.S. dollars in 600 projects as of August this year, local media reported Thursday.
Coming from 32 countries and regions, the investment mainly covers four sectors of electric power, oil and gas, mining and manufacturing.
Without specifying the investment amount, the report said China stood as the largest foreign investor, followed by Thailand, China 's Hong Kong Special Administrative Region, South Korea, Britain, Singapore,...
Myanmar agreed on Tuesday to grant the U.N. nuclear watchdog wider inspection powers in the previously army-ruled Asian state, a move expected to help ease any lingering concern about its nuclear ambitions.
Myanmar's foreign minister, Wunna Maung Lwin, signed the so-called Additional Protocol in a brief ceremony with Director General Yukiya Amano of the International Atomic Energy Agency on the sidelines of the IAEA's annual member state meeting.
Once ratified by Myanmar, it will allow...
China's policy of pursuing relations strictly at an inter-governmental level has spawned negative perceptions among various politically relevant grass roots communities in Myanmar. From controversial investments that have had negative social and environmental impacts, to single-minded efforts to protect its commercial interests, China is now part and parcel of many of Myanmar's deep-seated problems.
China's policy of pursuing relations strictly at an inter-governmental level has spawned...
UK Government Offers Help for Burma’s Electricity Industry
The British government says it wants to encourage UK firms in the electricity industry to offer help and investment in Burma.
“Burma faces a huge power challenge as it seeks to harness its growth potential over the next few years. However, many parts of the country still face frequent blackouts, with current power generation capacity standing at 3,500 MW [megawatts],” said a London government statement following a visit to...
Japanese industry minister Toshimitsu Motegi told Myanmar President Thein Sein on Thursday that Japan will offer electric power knowhow, Japanese government officials said after their talks in the capital.
"I hope your country will use Japan's technology," Motegi was quoted as telling the president, who spoke of wanting to build a coal-fired power station that is also environmentally friendly.
The president told Motegi that not only power generation using domestically produced natural...
A power and natural gas tender to supply electricity to 15 industrial zones has been extended to August 15, according to the reports from the Ministry of Electric Power.
Natural gas will be used in power plants operated under the Ministry of Electric Power and purchased through gas pipeline owned by Myanmar Oil and Gas Enterprise.
The Ministry of Electric Power will purchase between 150 million and 200 million cubic meters of natural gas per day in this year and between 500 million cubic...
Japan International Corporation Agency (JICA) will spend US$170 million in providing electricity and sanitation to rural areas across Myanmar.
The Japanese government has provided US$900 million in development aid to Myanmar this year. The JICA is will use US$450 million to create basic infrastructure in rural areas.
"JICA wants to reduce deprivation in remote areas. We are doing to implement sanitation and electricity system in rural areas with the guidance of our government. Getting...
RATCHABURI Electricity Generating Holding under its new president will adjust its business strategies to boost growth, teaming up with others in the Electricity Generating Authority of Thailand (Egat) group and tapping the Myanmar market.
According to Ratch president Phongdit Photchana, who was appointed in July, company executives will brainstorm next month to formulate strategic plans and set a more challenging course.
Ratch will continue to focus on both primary-fuel and renewable...
A controversial natural gas pipeline delivering gas to China from Myanmar has been brought into use.
The $2.5bn (£1.6bn) pipeline stretches from Myanmar's deepwater Shwe fields to China's south-western Yunnan province. It took three years to complete and is 493 miles long.
The pipeline’s annual throughput capacity is 12 billion cubic metres (1.16 Bcf per day). Gas production is currently at 58,550 Mcf per day but is expected to increase to 500,000 Mcf per day.
A 478 mile crude...
The Myanmar Industries Association is urging members to consider alternate forms of private energy production to combat chronic electricity shortages, officials said last week.
“Government-supplied electricity is cut regularly,” U Nyan Tun Oo, Yangon Region Minister for Electricity and Industry, told a workshop for association members in Yangon on July 31.
“Industry owners face major expenses and challenges getting enough electricity. It’s time for us to consider private...
China has finished constructing a deep-sea port on Madae Island in Rakhine State, according to officials from the ports authority.
The port will dock 300,000 tonne oil tankers as part of the Myanmar-China crude oil pipeline which is still under construction. The port was built in joint venture between China National Petroleum Corporation (CNPC) and the Ministry of Energy.
"The deep seaport is reserved for 300,000 tonne oil tankers and 26 metres deep oil tankers," said an official from...
China's imported gas supplies from Myanmar are expected to be cheaper than some existing sources in the local domestic markets in southwestern Yunnan and Guangxi provinces, despite being relatively more expensive than overall domestic Chinese gas, sources said Friday.
This is because Yunnan and parts of Guangxi now use more expensive onshore LNG, which has to be liquefied from other domestic fields and trucked to end-users.
China Gas Holdings, an independent gas distributor, believes that...
It is a paradoxical situation. Even as India frets over the rising cost of fuel like imported liquefied natural gas (LNG), two of the country’s public sector companies are able to sell gas at a much lower price to China. State-run ONGC Videsh (OVL) and GAIL
India along with its international partners are selling gas from two of their Myanmar blocks — A1 and A3 — to Chinese consumers at $9/million metric British thermal unit (mmBtu). In comparison, India pays $12-15/mmBtu for spot LNG...
China’s Southeast Asia Gas Pipeline Company (SEAGP) said they act responsibly in their handling of compensation for the land disputes stemming from the Myanmar-China gas-pipelines.
SEAGP released the press statement after the local people in Kyaukphyu area voiced demands for confiscated lands under the gas pipeline project.
The company has invited the locals to contact their office regarding with the compensations for any damaged crops and confiscated lands.
According to their press...
The Myanmar-China natural gas pipeline (Myanmar section) commenced delivery of natural gas to the Peoples Republic of China (PRC) after it was inaugurated by Myanmar Vice President U Nyan Tun at Mandalay on July 28. The pipeline is part of the Myanmar-China Oil and Gas Pipeline project, which also includes a crude oil pipeline.
Starting from Kuaykphyu on Myanmar’s Arakan coast, it passes through the Rakhine state, Magway and Mandalay regions and Shan state and enters the PRC at Ruili,...
Myanmar could formally award acreage from its highly anticipated offshore licensing round in February or March next year, an official at the Ministry of Energy said Wednesday.
"Right now we are doing the overview with the companies who have pre-qualified," Energy Planning Department Director Khin Khin Aye said.
Myanmar in April offered 30 blocks in its offshore licensing round -- 11 shallow water and 19 deepwater -- with a June 14 deadline for submission of formal expressions of interest,...
WASHINGTON — The ranks of Burma’s super rich will increase at least six-fold in the coming decade as one of Southeast Asia’s poorest countries emerges from military dictatorship and embraces a market-oriented economy, according to a new report.
Wealth-X, a firm which gathers intelligence on wealth, estimates in its World Ultra Wealth Report that there are 40 individuals in Burma currently who have assets worth $30 million or more. It sees that number growing by 687 percent to 307 by...
Myanmar has begun the long process of selecting foreign investors that will be allowed to explore the rich oil and gas resources in the seas off of the country’s coast from 61 companies that have been shortlisted, including Royal Dutch Shell PLC (NYSE:RDS.A), Exxon Mobil Corporation (NYSE:XOM), Total SA (NYSE:TOT) and China National Petroleum Corporation.
The Myanmar Oil & Gas Enterprise (MOGE) and the Energy Planning Department (EPD) will now hold talks with the shortlisted companies. The...
RANGOON — Since beginning its transition to quasi-civilian rule in 2011, Burma’s relations with the outside world have changed dramatically and, for the most part, positively. One notable exception, however, has been the country’s ties with China, which have seen a series of setbacks, mostly involving Chinese investment in mega-projects that many Burma citizens see as exploitative.
After the suspension of the Chinese-backed Myitsone hydropower dam project in Kachin State in September...
Thai company drills three successful offshore gas appraisal wells on Aung Sinkha discovery
PTT Exploration & Production (PTTEP) has drilled three successful offshore gas appraisal wells on the Aung Sinkha discovery in Block M3 off Burma.
The Thai company said the Aung Sinkha-3 well flowed at a rate of 34.5 million cubic feet per day with associated condensate of 195 barrels per day.
The Aung Sinkha-5 well flowed at 9 MMcfd, while the Aung Sinkha-6 well flowed at 14 MMcfd plus associated...
