Extractive industries

A new investigation commission will be formed to look into the Myanmar Gems Traders Association’s financial scandal, involving allegations of more than US$100 million that went missing from their bank account, according to the organization’s chairman. A previous review was conducted and finalized this week by ...

PTT Exploration and Production said on 1 June that it would cooperate with its partners to bid for the Bongkot gas field that it is currently operates, but indicated that it might not contest for the other major gas block currently run by US oil giant ...

Asian stocks sagged on 1 June as a slip in crude oil prices dampened investors’ appetite for riskier assets, while the recently bullish dollar stalled against the euro and yen following a mixed bag of U.S. economic data. There was little market reaction to the official and private ...

The government will attempt to boost transparency in the energy sector by holding an auction for the two major petroleum concessions in the Gulf of Thailand ahead of their expiration dates, instead of granting existing operators the right to extend the concessions without new bidders. The ...

Chevron Corp is weighing a sale of a roughly US$500-million stake in its Thailand gas field even as the government moves to negotiate a better return from petroleum concessions held the US company and PTT Exploration & Production Plc. Chevron is seeking to divest some Asian ...

According to the new assignments at the government’s monthly meeting for May in Vientiane from May 24-25, the Ministry of Agriculture and Forestry takes sole management for all kinds of forest. The Ministry of Energy and Mines takes sole management mandate for all mining. Land management ...

Golden FX Link (Cambodia) has joined in the running to become a legally licensed firm to trade derivatives. With a registered capital of $5 million, Lawrence Kook, Director of Golden FX Link, said that the company received a license in principle from the Securities and ...

Tanintharyi Region, the southern tip of Myanmar, abounds with natural resources and the problems associated with them. Residents in the isolated region face over-mining by foreign companies, the proposed development of a deep-sea port, an oil refinery and a special economic zone, mechanised farming of rubber ...

Despite the government’s vow to be more transparent with regulations and the issuing of sand-dredging licences, Cambodia’s Ministry of Mines and Energy has granted nearly 70 new such licences without holding public auctions or requiring companies to disclose environmental impact assessments results to the public, according ...

An investigating team from the Ministry of Mines and Energy has concluded that evidence at Chhay Ching Heang Group’s operations in Cambodia’s Ratanakkiri province seemingly points to illegal gold mining, though lab results from minerals extracted by the company are still pending, according to a ...