Looking back, it is evident that 2018 has seen a lot of changes in the Myanmar legal framework. There is also a number of developments that can be expected in the near future. Banking regulations Until early November, foreign bank branches could only provide banking services to foreign companies, i.e., companies incorporated in Myanmar with […]

Parliament is currently debating a bill on petroleum exploration, drilling, and production, which is intended to apply to both offshore and onshore activities. The law will mainly repeal outdated regulations from the 1950s and intends to serve as a way of organizing the sector. The bill follows the long-awaited Mining Rules issued in February 2018 […]

Myanmar is a country rich in resources and potential which currently has 16 onshore blocks and 19 offshore blocks in production. The offshore Yadana (TOTAL, Chevron and PTTEP) and Yetagun (Petronas, PTTEP) natural gas projects started production in 1998 and 2000 respectively under gas sales contracts to the Thai state oil company PTT. Highlights Government […]

In Myanmar, market access to foreign companies in petroleum products sector has dramatically changed with the introduction of the new Myanmar Investment Law and the release of MIC Notification 15/2017, while a new practice of the Directorate of Investment and Company Administration (“DICA”) makes it possible for foreigners to directly buy into existing Myanmar companies […]

A combination of recent law and policy developments has put in motion a tectonic shift for the fuel sector in Myanmar. Since a few months, foreign investors have a much larger access to invest in petroleum products businesses, and are no longer required to conclude a joint venture with the Ministry of Electricity and Energy […]