Burma Country ProfileMyanmar Country Profile
Burma, a former UK settlement with a large and young populace, has been under constant armed domination since the overthrow of an electoral civil administration in 1962 and has been superseded by a oppressive army regime ruled by the Burmese people. The army took violent action against pro-democracy demonstrators in 1988, and a new ruling party, called the State Law and Order Restoration Council (SLORC), took over and re-named the land Myanmar.
It retains strict oversight of the press, the judicial system and all facets of civic life. The 1990 victory of the NLD, headed by Aung San Suu Kyi, in the country's general election was a long way off, but it was never able to take over. In 1997, the SLORC was renamed the State Peace and Development Council (SPDC).
Formerly under six years under home detention from 1989-95, Aung San Suu Kyi was arrested again in May 2003 after a gang faithful to the regime set up a violence against her followers. Burma's 42 million inhabitants are in extreme poverty, with an expected per head per year revenue of $300. There are still widespread unsustainable levels of cross-border penalties against the state, and the current healthcare, infrastructural and educational system is weak.
Burma's indigenous minorities are the Shan, the Karen, the Rakhine, the Chinamen, the Indians and the Mon, many of whom have been using force against the Rangoon army for years.
Myanmar is an important source of offshore hydrocarbon resources in Southeast Asia, although the hydrocarbon industry is seriously undeveloped. Burma's petroleum company's shortage of funds, inadequate technological capacities, non-transparent regulation policies, inadequate investments by overseas companies and global penalties have seriously hampered the country's attempts to exploit its crude petroleum and petroleum extraction capabilities.
Nonetheless, US and EU penalties were relaxed or stayed in 2012 and 2013 in reaction to Burma's policy and economics. In the aftermath of the lifting of penalties, other multinational corporations have started searching for crude petroleum and petroleum in Burma. Burma's authorities are committed to attracting inward investments and technological aid and have concluded manufacturing participation agreements through face-to-face negotiation or recent license-lap.
Burma's petroleum industries have been undeveloped for many years. It is producing a minimum amount of petroleum and condensate from the Salin and Yetagun reservoir. In the last round of applications in 2013, the Land handed over 16nshore and 20 off-shore units to several international and local enterprises.
In more than half of these units, multinational corporations have begun investigations and prospecting work. Further off-shore seasonal geothermal energy projects are scheduled for 2016 and 2017, although the amount of prospecting may vary depending on the prospective pricing conditions for crude petroleum and natural gases. Burma's authorities have agreed to postpone the start of the next round of bidders until at least 2017 and to push ahead with the 20 blocs that were allocated in 2013.
It also consumes little and is expected to exceed 60,000 b/d in 2015, although recent developments in the economy have increased the use of mineral oils, particularly in the transport industry, since 2012. Burma's finite natural gas and refinery capacities are not sufficient to cover the growing internal demand for raw materials and supplies, making the Burmese a net exporter of liquid fuels.
Burma's economic expansion has begun following the removal of penalties and reform in the power industry. The World Bank estimates that the country's GNP will grow by around 8% by 2016-2017, one of the highest rate of expansion in Southeast Asia. Increased oil production is needed to cover the increasing transport and industry needs.