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Myanmar's crude oil production drop



Subject: Myanmar's crude oil production drops slightly 

Myanmar's crude oil production drops slightly 


Xinhua, Yangon, 25 October 1999.   Myanmar produced a total of 1.66 million
barrels of crude oil in the first half of this year, a 4.2 percent drop
compared with the same period of last year which was 1.733 million barrels.
According to the latest data published by the country's central statistical
organization, the output of natural gas was 852 million cubic-meters during
the period, a 3.97 percent reduction over the corresponding period of
last year which was 887.3 million cubic-meters. In 1998, Myanmar produced a
total of 3.424 million
barrels of crude oil and 1.749 billion cubic-meters of natural gas,
respectively reducing by 6.5 percent
and 2 percent over 1997. Since Myanmar opened to foreign investment in late
1988, foreign investment
in the oil and gas sector coming from Australia, Britain, France,
Indonesia, Japan, Thailand and the United
States had reached 2.3 billion U.S. dollars in 46 projects, accounting for
32.39 percent of the total
foreign investment of 7.108 billion dollars. Until now, Myanmar's crude oil
and petroleum products are
still self-insufficient and the country has to import 280,000 to 300,000
tons of crude oil and 100,000 to
150,000 tons of diesel oil annually, according to the official statistics. 


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