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Myanmar Produces Less Crude Oil in

Myanmar Produces Less Crude Oil in 1st Two Months

Xinhua, Rangoon, 2 June 2001. Myanmar produced a total of 533,000
barrels of crude oil in the  first two months of this year, 11 percent less
than the same period  of 2000, according to the latest data issued by the
country's Central Statistical Organization.

During the two-month period, the country yielded 230.47 million
cubic-meters of natural gas, also falling by 9 percent from the
corresponding period of 2000.

In 2000, the country produced 3.538 million barrels of crude oil
and 1.538 billion cubic-meters of natural gas.

Since Myanmar opened to foreign investment in late 1988, such
investment in the oil and gas sector coming from oil companies of
Australia, Britain, France, Indonesia, Japan, Thailand and the United
States has reached 2.355 billion dollars in 51 projects, taking up
32.2 percent of the country's total contracted foreign investment by sector.

So far Myanmar's petroleum and its products are insufficient to meet
the demand and the country still has to import 280,000 to 300, 000
tons of crude oil and 100,000 to 150,000 tons of diesel oil annually.