Home MMBIZ News Production of Minerals and Fossil Fuel Drops

Production of Minerals and Fossil Fuel Drops

Daw Le Le Thein, deputy minister for national planning and economic development, said there was a drop in the production of minerals and fossil fuels in the second half of the 2013-2014 fiscal year.

Only 82.5 percent of the Ministry of Energy’s extraction target was met because of depleting oil fields, the lower than expected amount of natural gas bought from Thailand and a decrease in private production, she told a parliament session.

As for mining, operations in Lone Khin and Pha Kant areas in Kachin state shrunk due to armed conflicts and small-scale mines being drowned out of competition, she added.

She suggested reforms including approvals to oil operations in a timely manner, thorough preparation and accurate implementation of projects and a repair and renovation program for aged fields nationwide.

- Advertisment -

Must Read

KBZ Bank branch in Yangon downtown area robbed

A KBZ Bank branch located on the Maha Bandoola Road between 47th and 48 streets was robbed by a group of masked robbers this...