Total power consumption hits over 3,600 MW in April
The country’s total power consumption hit a record high of 3,609 megawatts (MW) in April, up over 250 MW compared with the same period last year, according to Deputy Minister for Electricity and Energy Dr. Tun Naing. The annual power production reached 2,097 MW in 2014, 2,362 MW in 2015, 2,743 MW in 2016, 2,790 […]
Total, Chevron Suspend Some Payments to Myanmar Junta-Linked Energy Firm
In response to repeated calls for them to cut ties with the military regime in Myanmar, energy giants Total of France and Chevron of the US on Wednesday announced they have suspended some payments to their joint venture with a state-owned company controlled by the coup leaders.
Total, Siemens propose scaled-back LNG project in Tanintharyi
YANGON — The European consortium behind a 1,230-megawatt power project in Tanintharyi Region has proposed scaling back its plans amid stalled talks with the government over financial terms. However, a senior government official told Frontier the revised proposal is unlikely to be accepted and the project now faces the prospect of suspension or cancellation. French energy giant […]
TotalEnergies exits from Myanmar amid political turmoil
French energy major TotalEnergies has ‘definitively’ withdrawn from Myanmar, citing the deteriorating human rights situation in the country caused by last year’s military coup. In January this year, the French firm announced its decision to exit from the Yadana field and from the associated pipeline firm Moattama Gas Transportation Company (MGTC) in Myanmar, without seeking any financial […]
TotalEnergies says limited by legal framework on Myanmar action
Energy giant TotalEnergies(TOTF.PA) said on Friday it had gone as far as it could for now to limit the revenues going to the military junta in Myanmar while staying within a legal framework and assuring power supplies.
Traders see little change to fuel prices in the short term
Oil prices have spiked by more than 6 percent since the US killed top Iranian military commander Qasem Soleimani in a drone strike ordered by President Donald Trump on January 3. Prices in Asia climbed to almost US$65 a barrel for the first time in four months on Monday amid fears that the US airstrike […]
Turning on the Lights for 450,000 People in Rural Myanmar
More than 450,000 people in rural Myanmar are expected to gain access to clean energy for the first time following the signing of a grant agreement between the World Bank Group and the Government of Myanmar. The Results-Based Financing for Off-grid Solar grant agreement, worth US$3.45 million, is co-funded by the Global Partnership for Results Based Approaches (GPRBA) […]
Two Power Plants in Myanmar’s Biggest City Shut Amid Coup’s Financial Fallout
Two Chinese-backed LNG (liquefied natural gas) power plants in Yangon have halted operations since July as they have become financially unsustainable, signaling that Myanmar’s commercial capital could be in for more frequent blackouts.
U Zaw Naing Thein, CEO and Vice-Chairman, Supreme Group of Companies
U ZAW NAING THEIN: The pandemic has had a substantial impact on the global energy sector, including that of Myanmar. However, since only around 55% of the population currently has access to electricity, the pandemic has not affected our business plans to expand electricity distribution dramatically.