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.
Showing posts with label Natural resources. Show all posts
Showing posts with label Natural resources. Show all posts
Thursday, 24 July 2014
Wednesday, 23 July 2014
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
Myanmar earns record sale in annual gems emporium
YANGON, July 11 (Xinhua) -- The just-ended 51st annual Myanmar Gems Emporium has fetched 3.4 billion U.S. dollars, up 1 billion dollars compared with that of the previous one, local media reported Friday.
The record-breaking sales were mainly gained through jade lots, said the Mizzima Daily.
Jade lots totaling 74 were sold at the close of the 51st Myanmar Gems Emporium, receiving 1,020 million dollars commercial tax from the event.
The gems emporium attracted over 4,000 gems merchants including about 2,000 foreign ones, mostly from China and China's Hong Kong.
The record-breaking sales were mainly gained through jade lots, said the Mizzima Daily.
Jade lots totaling 74 were sold at the close of the 51st Myanmar Gems Emporium, receiving 1,020 million dollars commercial tax from the event.
The gems emporium attracted over 4,000 gems merchants including about 2,000 foreign ones, mostly from China and China's Hong Kong.
Managing FDI for Sustainable Development in Myanmar
Foreign Direct Investment (FDI) in Myanmar’s natural resource base (oil, gas and mineral resources including gems) is rapidly growing and presents an economic opportunity for the country. To ensure sustainable development it is important for the Government of Myanmar to manage FDI in the natural resource sector so that it is socially inclusive and environmentally sustainable. Unfortunately, not all investments work toward the goals of sustainable development and can result in the depletion of natural resources, poor working conditions and few in-country economic benefits (IIED).
Myanmar sells $3bn in gems
Myanmar's annual gem emporium took in more than $3 billion this year, the most ever for the country's annual sale of gems and jade, organizers said Tuesday.
"This year sale surpassed the target and is the record sale in Myanmar emporium history," said Tun Hla Aung, joint secretary of the Myanmar Gems & Jewellery Entrepreneurs Association.Income reached $3.4 billion and saw the successful auction of 6,007 of 7,454 jade lots, 126 out of 436 gem lots and 224 of the total 342 pearl lots, they said.
The emporium earned just more than $2.4 billion dollars last year, the highest in recent decades. Improved access to the country and a rise in the price of jade boosted revenue.
"This year's jade price is more than 20% higher than last year," Mr Tun said.
"This year sale surpassed the target and is the record sale in Myanmar emporium history," said Tun Hla Aung, joint secretary of the Myanmar Gems & Jewellery Entrepreneurs Association.Income reached $3.4 billion and saw the successful auction of 6,007 of 7,454 jade lots, 126 out of 436 gem lots and 224 of the total 342 pearl lots, they said.
The emporium earned just more than $2.4 billion dollars last year, the highest in recent decades. Improved access to the country and a rise in the price of jade boosted revenue.
"This year's jade price is more than 20% higher than last year," Mr Tun said.
Wednesday, 16 July 2014
Jade mining set to resume in four Kachin townships
On September 1 the government will allow jade mining to resume in areas of Kachin State where it has been suspended for two years due to armed conflict, an official from the supervisory work committee for jade plots said.
The resumption of jade mining in four townships in the state is intended to improve the socioeconomic welfare of its residents, the official said.
The mining will resume in Lonekhin, Phar Kant, Mawluu-Maw Han and Khanni townships, where it has been suspended since May 2012, the official said.
The resumption of jade mining in four townships in the state is intended to improve the socioeconomic welfare of its residents, the official said.
The mining will resume in Lonekhin, Phar Kant, Mawluu-Maw Han and Khanni townships, where it has been suspended since May 2012, the official said.
Friday, 11 July 2014
Govt reaps US$1 billion from jade exports
The Myanmar government has earned over US$1 billion from the export of jade stone during the 2013-14 fiscal year, according to the Ministry of National Planning and Economic Development.
Jade exports from April 1, 2013 to end of March, 2014 amounted to US$1.1 billion, compared to the US$297.9 million earned in the previous year.
Exports were down in April, May and June, but took off again in July, with September standing out as the highest earning month, grossing at US$336 million.
The precious green stone, which is mined in northern Kachin State, is exported mainly to China, Hong Kong and India - countries with strong demand for jade jewellery and craft.
Jade exports from April 1, 2013 to end of March, 2014 amounted to US$1.1 billion, compared to the US$297.9 million earned in the previous year.
Exports were down in April, May and June, but took off again in July, with September standing out as the highest earning month, grossing at US$336 million.
The precious green stone, which is mined in northern Kachin State, is exported mainly to China, Hong Kong and India - countries with strong demand for jade jewellery and craft.
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.
Thursday, 10 July 2014
Anti-trafficking teams seize Ks 6 bn worth of contraband in 4 years
The seizure of illegal goods for the past four years reached nearly Ks 6 billion (US$6 million), according to the Prevention and Control of Illegal Trading Central Committee.
From March 2011 to June 2014, the anti-trafficking teams have impounded the contraband totalling Ks 5.925 billion.
The contraband included jade and gems accounting for 66 per cent of the seizure. Their value is estimated at about Ks 4 billion ($4 million).
From March 2011 to June 2014, the anti-trafficking teams have impounded the contraband totalling Ks 5.925 billion.
The contraband included jade and gems accounting for 66 per cent of the seizure. Their value is estimated at about Ks 4 billion ($4 million).
Thursday, 3 July 2014
Uncut blue emerald on sale to the highest bidder
An uncut blue emerald valued at €1 million will be sold to the highest bidder during the 51st Myanmar Jewellery Exhibition which runs from June 24 to July 6.
The blue emerald is owned by Aung Htay, a small-scale dealer, and will be sold alongside other precious items including €300,000 uncut rubies, topaz as well as finished jewellery.
The exhibition is being held at Maniyadana Jade Hall in Nay Pyi Taw, where curators say that there are more cut and polished gems on display compared to last year.
“We expect 4,000 local and foreign merchants. In this year’s show, we are displaying cut jade stone more than raw jade to promote jade on the market,” said Htun Hla Aung, joint-secretary of the Myanmar Jewellery Federation.
The blue emerald is owned by Aung Htay, a small-scale dealer, and will be sold alongside other precious items including €300,000 uncut rubies, topaz as well as finished jewellery.
The exhibition is being held at Maniyadana Jade Hall in Nay Pyi Taw, where curators say that there are more cut and polished gems on display compared to last year.
“We expect 4,000 local and foreign merchants. In this year’s show, we are displaying cut jade stone more than raw jade to promote jade on the market,” said Htun Hla Aung, joint-secretary of the Myanmar Jewellery Federation.
Tuesday, 1 July 2014
Ayeyawady contributing largest timber revenues
Ayeyawady Region is the largest contributing state for timber revenues to the central government in the fiscal year 2013-14.
The government received Ks 400.57 million of Ayeyawady’s timber earnings, according to the study on natural resources, regional governments and wealth sharing in Myanmar.
The study, under the title “Natural Resources and Sub-national Governments in Myanmar: Key Consideration for Wealth Sharing”, was carried out by two researchers, Thet Aung Lynn and Mari Oye.
It was a fourth paper sponsored by the International Growth Centre, the Myanmar Development Resource Institute’s Centre for Economic and Social Development and the Asia Foundation.
The government received Ks 400.57 million of Ayeyawady’s timber earnings, according to the study on natural resources, regional governments and wealth sharing in Myanmar.
The study, under the title “Natural Resources and Sub-national Governments in Myanmar: Key Consideration for Wealth Sharing”, was carried out by two researchers, Thet Aung Lynn and Mari Oye.
It was a fourth paper sponsored by the International Growth Centre, the Myanmar Development Resource Institute’s Centre for Economic and Social Development and the Asia Foundation.
Canadian mining company Ivanhoe faces lawsuit in Myanmar
Justice Trust and the Myanmar Lawyers Network will file a lawsuit against Ivanhoe Mines, the Canadian mining company that launched the controversial Latpadaungtaung Copper Mine.
“The Canadian company broke the law and it did not meet international standards when it was running the project,” said Thein Than Oo of the Myanmar Lawyers Network.
“The company started the copper mine before the Chinese company Wanbao took over,” he said, adding that it was unclear whether Wanbao was required to adhere to international law by regulators in its home country. “However, the Canadian company, Ivanhoe should follow international law because it comes from a democratic country with a more active civil society,” he said.
“The Canadian company broke the law and it did not meet international standards when it was running the project,” said Thein Than Oo of the Myanmar Lawyers Network.
“The company started the copper mine before the Chinese company Wanbao took over,” he said, adding that it was unclear whether Wanbao was required to adhere to international law by regulators in its home country. “However, the Canadian company, Ivanhoe should follow international law because it comes from a democratic country with a more active civil society,” he said.
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
MTE to sell over 5,000 tonnes of hard wood
The state Myanmar Timber Enterprise (MTE) will be selling over 5,000 tonnes of teak, Tamalan and other raw hardwood by the end of June, according to Ministry of Forestry and Environmental Conservation.
The foreign transaction and logging department of MTE will announce a bid for over 1,700 tonnes of teak, hardwood, logs and lumber to both foreign and local companies to be paid in U.S. dollars.
A total of 321 tonnes of teak, 289 tonnes of teak-lumber, 439 tonnes of Tamalan logs, 274 tonnes of Kanyin logs, and 416 tonnes of planed lumber will be on sale at Tawwin Hall from June 27 to 30.
The foreign transaction and logging department of MTE will announce a bid for over 1,700 tonnes of teak, hardwood, logs and lumber to both foreign and local companies to be paid in U.S. dollars.
A total of 321 tonnes of teak, 289 tonnes of teak-lumber, 439 tonnes of Tamalan logs, 274 tonnes of Kanyin logs, and 416 tonnes of planed lumber will be on sale at Tawwin Hall from June 27 to 30.
Wednesday, 18 June 2014
Strengthening bilateral trade ties with Myanmar
The National Chamber of Commerce of Sri Lanka will hold a presentation/discussion on “Bilateral Trade between Sri Lanka and Myanmar” with the participation of the Ambassador of Myanmar Min Thein Zan as the Special Guest Speaker on Thursday June 19, 2014 from 3.00 p.m. to 4.30 p.m. at the Chamber Auditorium, 450, D R Wijewardene Mawatha,
Colombo 10.
The Ambassador will be assisted by Charge d’affairs Aung Soe Moe. They will speak on the current business trend, trade potential, opportunities for export, import, investment and other services available for Sri Lankans in Myanmar. The participants will also get an opportunity for discussion and interaction with the Ambassador and the officials of the Embassy at the session.
Colombo 10.
The Ambassador will be assisted by Charge d’affairs Aung Soe Moe. They will speak on the current business trend, trade potential, opportunities for export, import, investment and other services available for Sri Lankans in Myanmar. The participants will also get an opportunity for discussion and interaction with the Ambassador and the officials of the Embassy at the session.
Thursday, 12 June 2014
Protecting Myanmar's rich plant biodiversity is major goal of new NYBG program
As Myanmar emerges from decades of upheaval and isolation, The New York Botanical Garden has launched an ambitious conservation and training program to document the country's remarkably rich plant life, build the country's capacity to carry out plant research, and promote the sustainable use of its forests.
Myanmar is a major biodiversity hotspot, with diverse habitats boasting a wide range of plant species that are likely found nowhere else, yet it has probably the most poorly studied flora in the Northern Hemisphere. The country's scientific infrastructure—the human and institutional resources needed for significant research—has suffered from decades of neglect. As a result, conservation efforts in Myanmar are hindered by a lack of basic information.
Myanmar is a major biodiversity hotspot, with diverse habitats boasting a wide range of plant species that are likely found nowhere else, yet it has probably the most poorly studied flora in the Northern Hemisphere. The country's scientific infrastructure—the human and institutional resources needed for significant research—has suffered from decades of neglect. As a result, conservation efforts in Myanmar are hindered by a lack of basic information.
Wednesday, 11 June 2014
Hopes rise for Myanmar to chart a greener path
Any views expressed in this article are those of the author and not of Thomson Reuters Foundation.
Civil society groups focused on land use in Myanmar are taking hope from a recent speech from the country’s top environmental official, who said his newly liberalizing country was “fully committed” to sustainable forest management.
U Win Tun, the Union Minister for Environmental Conservation and Forestry, told attendees at the Forests Asia Summit in Jakarta this month that Myanmar was taking steps to “changing [its] economic path from brown to green” and fuel growth that does not come at the expense of its forested landscapes — as many of its more-developed neighbors have experienced.
Civil society groups focused on land use in Myanmar are taking hope from a recent speech from the country’s top environmental official, who said his newly liberalizing country was “fully committed” to sustainable forest management.
U Win Tun, the Union Minister for Environmental Conservation and Forestry, told attendees at the Forests Asia Summit in Jakarta this month that Myanmar was taking steps to “changing [its] economic path from brown to green” and fuel growth that does not come at the expense of its forested landscapes — as many of its more-developed neighbors have experienced.
Myanmar seeks to export timber products to EU
YANGON - After banning timber exports, Myanmar is now working to export finished wood products to the European Union (EU), according to the Ministry of Environmental Conservation and Forestry.
To legally export wood products to the EU, the government has to become a member of the Forest Law Enforcement Governance and Trade (FLEGT) and through a voluntary partnership or VPA that includes commitments and action to halt trade in illegal timber.
On May 28, Win Tun, minister for Environmental Conservation and Forestry, met with EU representative Isabel Faria De Almeida to request technical aid and open more training courses.
To legally export wood products to the EU, the government has to become a member of the Forest Law Enforcement Governance and Trade (FLEGT) and through a voluntary partnership or VPA that includes commitments and action to halt trade in illegal timber.
On May 28, Win Tun, minister for Environmental Conservation and Forestry, met with EU representative Isabel Faria De Almeida to request technical aid and open more training courses.
Friday, 6 June 2014
Local gold price dropping
The price of gold foil in Myanmar is dropping by over US$10 a tical because the supply is higher than the demand.
The gold sheet has been traded at more than US$660 early May before falling to US$650 at the month’s end.
“Within a week, gold price falls by more than Ks 10,000. As it is back-to-school season, the supply of gold is higher than the demand,” said secretary of Myanmar Gold Entrepreneurs Association Kyaw Win (from Oo Htone gold shop).
The gold sheet has been traded at more than US$660 early May before falling to US$650 at the month’s end.
“Within a week, gold price falls by more than Ks 10,000. As it is back-to-school season, the supply of gold is higher than the demand,” said secretary of Myanmar Gold Entrepreneurs Association Kyaw Win (from Oo Htone gold shop).
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