US sanctions target Myanmar’s NOC
But the measures also further complicate gas-dependent Thailand’s supply outlook
The US has imposed financial sanctions on Myanmar’s state oil company in a further blow to the pariah nation’s troubled oil and gas sector. And the pressure on Myanmar could also cause additional problems for neighbouring Thailand and its NOC, PTTEP. The latest sanctions will prohibit “financial services to or for the benefit of [state-owned] Myanma Oil and Gas Enterprise [MOGE]” from 15 December. The US Treasury Department’s Office of Foreign Assets Control (OFAC) also announced other measures targeted against the regime, and closer sanctions co-ordination with the UK and Canada. “As Burma’s [sic] most lucrative state-owned enterprise, MOGE provides hundreds of millions of dollars in foreig
Also in this section
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well