YANGON, July 18 (Xinhua) -- India is seeking cooperation in the energy sector with Myanmar, state media reported Friday.
A meeting on energy cooperation was held on Thursday in Nay Pyi Taw, with the participation of Myanmar Minister for Environmental Conservation and Forestry U Win Tun and Indian Ambassador to Myanmar Gautam Mukhopadhaya, said the New Light of Myanmar.
Both sides focused on the use of renewable energy and various energy, as well as drawing of energy policy and procedures.
Showing posts with label Energy. Show all posts
Showing posts with label Energy. Show all posts
Thursday, 24 July 2014
Burma’s Oil Production Tipped to Decline; Fuel Imports to Increase
Burma will become increasingly dependent on imported crude oil and refined fuels over the next ten years because of a lack of planning and investment, an industry report has forecast.
A rise in crude oil imports is highly likely in spite of an expected upsurge in onshore and offshore exploration in coming years, while underinvestment in refining capacity will necessitate more imports of petrol and diesel, said Business Monitor International (BMI) in a study of Burma’s energy resources. BMI is an international business risks analysis company based in London.
“We see production steadily declining for the next 10 years as no major plan to boost condensate [a form of light oil] output from offshore gas fields has been announced or even discussed,” said BMI.
A rise in crude oil imports is highly likely in spite of an expected upsurge in onshore and offshore exploration in coming years, while underinvestment in refining capacity will necessitate more imports of petrol and diesel, said Business Monitor International (BMI) in a study of Burma’s energy resources. BMI is an international business risks analysis company based in London.
“We see production steadily declining for the next 10 years as no major plan to boost condensate [a form of light oil] output from offshore gas fields has been announced or even discussed,” said BMI.
Myanmar seeks foreign partners to jointly operate refinery
[YANGON] Myanmar has invited foreign companies as partners to raise production capacity of and jointly operate the state-owned Thanlyin Refinery, its second-biggest, marking the opening up of the country's oil sector under new foreign investment laws.
The Ministry of Energy published the invitation to the foreign firms for participation in Thanlyin in state-owned paper Kyemon on July 14.
The Ministry of Energy published the invitation to the foreign firms for participation in Thanlyin in state-owned paper Kyemon on July 14.
Wednesday, 23 July 2014
More than 3,000 companies registered under foreign investment law
A total of 3,032 foreign-based companies and more than 70 joint ventures have registered to open offices and to operate 720 projects under the foreign investment as of June, according to the Directorate of Investment and Company Administration.
"The investment commission gave approval to mostly garment factories, shoe factories and other manufacturing businesses. This will create employment opportunities for the citizens. On the other hand, labour rights should be ensured. It is bad if foreign investors could not ensure labour rights after getting approval for investment," said an executive from the Union of Myanmar Federation of Chambers of Commerce and Industry.
"The investment commission gave approval to mostly garment factories, shoe factories and other manufacturing businesses. This will create employment opportunities for the citizens. On the other hand, labour rights should be ensured. It is bad if foreign investors could not ensure labour rights after getting approval for investment," said an executive from the Union of Myanmar Federation of Chambers of Commerce and Industry.
Gas exports reach US$10 bn in 3 years
Myanmar’s natural gas exports have amounted to over $10 billion in three years under the civilian government, according to the Ministry of Commerce.
The gas revenues comprise $3.5 billion for fiscal year 2011-12, $3.66 billion for 2012-13 and $3.3 for 2013-14.
In the same period, exports of timber and wood products amounted to $2 billion. And gems earned $2 billion in export earnings. The country received a total of $14 billion in exporting natural resources.
Recently the government organised the 51st Myanmar Gems Exhibition which saw the record earnings of about $800 million.
The gas revenues comprise $3.5 billion for fiscal year 2011-12, $3.66 billion for 2012-13 and $3.3 for 2013-14.
In the same period, exports of timber and wood products amounted to $2 billion. And gems earned $2 billion in export earnings. The country received a total of $14 billion in exporting natural resources.
Recently the government organised the 51st Myanmar Gems Exhibition which saw the record earnings of about $800 million.
Thursday, 17 July 2014
Achieving Burma’s Energy Goal Will Be ‘Very Tough’: Report
Burma faces a “very tough task” to achieve the Ministry of Electric Power’s ambition to develop a modern national energy infrastructure in the next 15 years, an industry report said.
The ministry has outlined plans to increase Burma’s power-generating capacity to nearly 25,000 megawatts by 2030. At present, the national capacity is only 4,360 megawatts—barely one third of the capacity of tiny Singapore, which has a population of 5.3 million.
“Asia’s new economic frontier Myanmar, seeking to attract tens of billions of dollars in investment, is also one of the darkest places in the world with an electricity capacity which reaches only one in five of the estimated 60 million population,” said Asia Power Monitor, an international energy industry weekly newspaper.
“The Ministry of Energy has outlined vague plans for 40 power projects across the country to achieve the 2030 generating target—which is less than neighboring Thailand’s today with a similar population,” it said this week.
The ministry has outlined plans to increase Burma’s power-generating capacity to nearly 25,000 megawatts by 2030. At present, the national capacity is only 4,360 megawatts—barely one third of the capacity of tiny Singapore, which has a population of 5.3 million.
“Asia’s new economic frontier Myanmar, seeking to attract tens of billions of dollars in investment, is also one of the darkest places in the world with an electricity capacity which reaches only one in five of the estimated 60 million population,” said Asia Power Monitor, an international energy industry weekly newspaper.
“The Ministry of Energy has outlined vague plans for 40 power projects across the country to achieve the 2030 generating target—which is less than neighboring Thailand’s today with a similar population,” it said this week.
China remains Myanmar’s top source of FDI
China continues to be the largest investor in Myanmar with more than US$14 billion of cumulative investment as of the end of June, according to latest data from the Directorate of Investment and Company Administration (DICA).
Foreign companies have so far invested more than $46.71 billion in 12 sectors, including oil and gas, manufacturing, mining, hotels and tourism, transport and logistics, real estate, livestock and fisheries, agriculture, construction and services.
The energy sector has received the most foreign investment, about 41 per cent of the total, while the construction sector has received the least, according to DICA.
Foreign companies have so far invested more than $46.71 billion in 12 sectors, including oil and gas, manufacturing, mining, hotels and tourism, transport and logistics, real estate, livestock and fisheries, agriculture, construction and services.
The energy sector has received the most foreign investment, about 41 per cent of the total, while the construction sector has received the least, according to DICA.
Wednesday, 16 July 2014
Myanmar promises to clean up mining sector
Australia has hailed Myanmar's (Burma) bid to boost transparency in its mining sector, with the federal government keen to ramp up trade and investment with the emerging economy.
Myanmar's application to join the Extractive Industries Transparency Initiative - a voluntary code to encourage governments to be accountable for their country's resource revenues - has been accepted.
Foreign Minister Julie Bishop, who is in Myanmar on her first official visit, said it was a positive sign of reform in a country awash with natural resources but plagued by widespread poverty.
But she warned that broader economic reforms - including a stable financial and banking sector - would be needed before Myanmar could attract the foreign investment it desired.
Myanmar's application to join the Extractive Industries Transparency Initiative - a voluntary code to encourage governments to be accountable for their country's resource revenues - has been accepted.
Foreign Minister Julie Bishop, who is in Myanmar on her first official visit, said it was a positive sign of reform in a country awash with natural resources but plagued by widespread poverty.
But she warned that broader economic reforms - including a stable financial and banking sector - would be needed before Myanmar could attract the foreign investment it desired.
Govt to take action on illegal fuel imports
The authorities will start inspections at airports and ports to clamp down on illegal fuel imports, according to the Illegal Trade Prevention Central Committee (ITPCC).
“The government’s crack down on fuel smuggling started last November to stop fuel smuggling, but there has been no seizure of fuel smugglers yet,” said Nyunt Aung, deputy director general of the ITPCC.
“However, the amount of fuel imports is more or less than the original import list. It is in range. The government allowed 10 percent on the amount of fuel imports. The smuggling are in that 10 percent so no action has been taken yet. Lately, the volume of legal fuel import is increased,” he added.
“The government’s crack down on fuel smuggling started last November to stop fuel smuggling, but there has been no seizure of fuel smugglers yet,” said Nyunt Aung, deputy director general of the ITPCC.
“However, the amount of fuel imports is more or less than the original import list. It is in range. The government allowed 10 percent on the amount of fuel imports. The smuggling are in that 10 percent so no action has been taken yet. Lately, the volume of legal fuel import is increased,” he added.
Friday, 11 July 2014
Who Will Benefit From Myanmar’s Offshore Oil Rush?
Myanmar is a country rich in natural resources, including minerals, oil, and gas. Yet during the half-century of military junta rule, only a small number of elite families prospered from the country’s natural endowment.
President Thein Sein, who took office in March 2011, today pledged more transparency and economic reform to benefit the population broadly. Yet it remains to be seen whether his policies can live up to his promises.
One crucial area to watch is the auctioning off of onshore and offshore oil and gas exploration rights. In the past year, Myanmar has awarded 36 major oil and gas blocks to 47 companies, including both local and international corporations. But little information is publicly available about the owners and ultimate beneficiaries of these companies—raising concerns about secrecy and the potential for kickbacks, money laundering, and other forms of corruption.
President Thein Sein, who took office in March 2011, today pledged more transparency and economic reform to benefit the population broadly. Yet it remains to be seen whether his policies can live up to his promises.
One crucial area to watch is the auctioning off of onshore and offshore oil and gas exploration rights. In the past year, Myanmar has awarded 36 major oil and gas blocks to 47 companies, including both local and international corporations. But little information is publicly available about the owners and ultimate beneficiaries of these companies—raising concerns about secrecy and the potential for kickbacks, money laundering, and other forms of corruption.
Friday, 4 July 2014
Bidders shortlisted for jet fuel distribution
The Ministry of Energy has recently announced the shortlisted companies, including Shell, BP and PTT, for a joint venture contract distributing jet fuel.
The ministry invited tenders interested in forming joint venture for fuel distribution in Mingaladon Township. The contract would be handled by the ministry’s Myanmar petroleum trading enterprise.
A total of 23 bidders submitted their respective proposals by the June 16 deadline. The ministry made the shortlist of 15, including companies from Singapore, Thailand and South Korea.
The ministry invited tenders interested in forming joint venture for fuel distribution in Mingaladon Township. The contract would be handled by the ministry’s Myanmar petroleum trading enterprise.
A total of 23 bidders submitted their respective proposals by the June 16 deadline. The ministry made the shortlist of 15, including companies from Singapore, Thailand and South Korea.
Tuesday, 1 July 2014
Myanmar ranks 41 in natural gas reserves
Myanmar ranks 41 internationally in volume of natural gas reserves, according to a research paper by the Myanmar Development Resource Institute and the Asia Foundation.
The paper quoted a report on energy sector from the Asian Development Bank that says the country has about 20 trillion cubic feet of untapped natural gas reserves.
The report “National Resources and Subnational Governments in Myanmar: key considerations for growth” was presented at the IBC hall in Yangon on June 17.
It notes that the government fails to collect the amount of revenue it could from the sale of its natural resources. “Myanmar does not collect the amount of revenues that it could, given the wealth of resources present and the scale of their use,” the repor says.
The paper quoted a report on energy sector from the Asian Development Bank that says the country has about 20 trillion cubic feet of untapped natural gas reserves.
The report “National Resources and Subnational Governments in Myanmar: key considerations for growth” was presented at the IBC hall in Yangon on June 17.
It notes that the government fails to collect the amount of revenue it could from the sale of its natural resources. “Myanmar does not collect the amount of revenues that it could, given the wealth of resources present and the scale of their use,” the repor says.
Thursday, 19 June 2014
Myanmar gas exports seen rising on ramping up of new China pipeline
(Reuters) - Myanmar's earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year.
Myanmar earned $3.299 billion from the export of gas during the 2013-14 (April/March) fiscal year, down from $3.666 billion in 2012-13 and compared to $3.502 billion in 2011-2012 and $580 million in 2003-2004, according to data released on Wednesday by the state-run Central Statistical Organisation (CSO).
Gas exports are a crucial revenue source for the Southeast Asian nation, accounting for nearly 30 percent of its total exports of $11.204 billion in the last fiscal year.
Myanmar earned $3.299 billion from the export of gas during the 2013-14 (April/March) fiscal year, down from $3.666 billion in 2012-13 and compared to $3.502 billion in 2011-2012 and $580 million in 2003-2004, according to data released on Wednesday by the state-run Central Statistical Organisation (CSO).
Gas exports are a crucial revenue source for the Southeast Asian nation, accounting for nearly 30 percent of its total exports of $11.204 billion in the last fiscal year.
Wednesday, 18 June 2014
Myanmar to import 500 tonnes of petrol from Thailand
MYAWADY - Aung Nan Thar Company has been given official permission to import up to 500 tonnes of petrol across the Thai-Myanmar Friendship Bridge after ferry services were suspended in January this year.
Border authorities have cracked down on petrol smuggling across the Thaungyin or Moei River, but this has not stopped traffickers resorting to using pipelines to smuggle fuel across the river border.
"The official importing of petrol will not be successful in the long-term if only one person is doing it. Everyone needs to do this in unison. If illegal imports continue, companies doing official imports won't be able to compete. That's why the local authorities need to help regulate against traffickers in order for the business to be successful," said an official from Aung Nan Thar Company.
Border authorities have cracked down on petrol smuggling across the Thaungyin or Moei River, but this has not stopped traffickers resorting to using pipelines to smuggle fuel across the river border.
"The official importing of petrol will not be successful in the long-term if only one person is doing it. Everyone needs to do this in unison. If illegal imports continue, companies doing official imports won't be able to compete. That's why the local authorities need to help regulate against traffickers in order for the business to be successful," said an official from Aung Nan Thar Company.
Thursday, 12 June 2014
Stakeholders urge govt for more transparency in hydropower and mining
The multi-stakeholder group (MSG) comprising of government officials, civic bodies and investors has urged the Myanmar government to increase transparency in hydropower and mining sectors.
Myanmar is currently applying to join the Extractive Industries Transparency Initiative (EITI), a global coalition of governments, companies and civil society working to improve openness and accountability around the extraction of natural resources.
“We’ve seen that the investment in hydropower sector topped nearly US$90 billion. The government should publicise which industry has been contracted and which is still at negotiation stage. Similarly, the mining sector has seen US$8 billion in official investment, but this could actually be around US$16 billion. These sectors should be included in EITI to unveil them to public,” said David Allan from Spectrum Group, an advisory body in industrial, environmental and human rights issues.
Myanmar is currently applying to join the Extractive Industries Transparency Initiative (EITI), a global coalition of governments, companies and civil society working to improve openness and accountability around the extraction of natural resources.
“We’ve seen that the investment in hydropower sector topped nearly US$90 billion. The government should publicise which industry has been contracted and which is still at negotiation stage. Similarly, the mining sector has seen US$8 billion in official investment, but this could actually be around US$16 billion. These sectors should be included in EITI to unveil them to public,” said David Allan from Spectrum Group, an advisory body in industrial, environmental and human rights issues.
Thailand’s Coup May Affect Burma’s Oil and Gas Sector
The military takeover in Bangkok is likely to lead to Thailand competing with Burma for foreign investment in oil and gas development.
Within a week of the military takeover, the permanent secretary to the Ministry of Energy, Norkun Sitthiphong, said his office was working on a set of reform and development proposals for presentation to the national council.
“Items in the new energy work plan include initiating a bid round for upstream blocks, LPG price adjustments to reduce the gap between the transport sector and households, as well as approval of a power development plan, all of which are to be achieved within the next six months,” a Platts energy analysis report said.
Within a week of the military takeover, the permanent secretary to the Ministry of Energy, Norkun Sitthiphong, said his office was working on a set of reform and development proposals for presentation to the national council.
“Items in the new energy work plan include initiating a bid round for upstream blocks, LPG price adjustments to reduce the gap between the transport sector and households, as well as approval of a power development plan, all of which are to be achieved within the next six months,” a Platts energy analysis report said.
Monday, 2 June 2014
Burma Factories Warn of Rise in Strikes Fueled by Activists
RANGOON — Representatives of Burma’s garment-makers say that prominent former political prisoners are getting involved in labor disputes, and warn that more strikes are likely in the run up to national elections slated for late 2015.
Kazuto Yamazaki, Deputy Managing Director of Famoso Clothing Co., Ltd, a garment factory located in northern Rangoon and employing 1,200 workers, said that many of the city’s strikes “are initiated by political groups.”
Yamazaki said that members of the 88 Generation Peace and Open Society, a prominent group of former student dissidents and political prisoners, participated in an arbitration meeting chaired by the Ministry of Labor, Employment and Social Security, after workers at Famoso went on strike last year in pursuit of a wage increase.
Kazuto Yamazaki, Deputy Managing Director of Famoso Clothing Co., Ltd, a garment factory located in northern Rangoon and employing 1,200 workers, said that many of the city’s strikes “are initiated by political groups.”
Yamazaki said that members of the 88 Generation Peace and Open Society, a prominent group of former student dissidents and political prisoners, participated in an arbitration meeting chaired by the Ministry of Labor, Employment and Social Security, after workers at Famoso went on strike last year in pursuit of a wage increase.
Friday, 30 May 2014
Myanmar approves Thanlwin river Hydropower Project
The Myanmar Minister of Electric Power has granted approval to local company Asia World and China's Hanergy Group Holding Ltd. to develop a 1,400 MW hydropower plant along the Thanlwin River.
The Upper Thanlwin (also seen as "Kunlong") hydroelectric project would be a joint venture allowing the companies to operate the plant for up to 40 years under a build-operate-transfer plan, with all but about 10% of its output being sold to China.
The Upper Thanlwin (also seen as "Kunlong") hydroelectric project would be a joint venture allowing the companies to operate the plant for up to 40 years under a build-operate-transfer plan, with all but about 10% of its output being sold to China.
Citizen investment increases by 60%
Investment by Myanmar businesses has increased by 60 percent to almost Ks 4.5 trillion (US$ 4.5 billion) in the 2013-14 fiscal year, according to the Directorate of Investment and Company Administration.
The total local investment was recorded at Ks 4.5 trillion at the end of March, an increase from Ks 2.8 trillion (US$ 2.8 billion) last year.
Manufacturing represents the largest portion of local investment, followed by the construction sector, hotels and tourism.
The total local investment was recorded at Ks 4.5 trillion at the end of March, an increase from Ks 2.8 trillion (US$ 2.8 billion) last year.
Manufacturing represents the largest portion of local investment, followed by the construction sector, hotels and tourism.
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