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Burmah Oil became the largest oil company in the British Empire. The subsidiary was later renamed Anglo-Iranian Oil Company and eventually BP. [3] For about a century, the company played a major role in the oil industry, and in the discovery of oil in the Middle East through its significant influence over British Petroleum. [4]
As of 2015, Myanmar exports gas to Thailand and China. [3] Myanmar had proven gas reserves of 10 trillion cubic feet in 2012, with an annual production capacity of 416 BcF. [9] Oil reserves in 2013 numbered at 50 million barrels, with a production capacity of 21,000 bbl/d. [9] The Yenangyaung oil field continues to be in operation.
MOGE was established in 1963 after nationalisation of the Burmese petroleum industry. The nationalised assets of Burmah Oil Company were amalgamated to MOGE. [3] [5] MOGE discovered the Mann oil field in 1970. Peak production in 1979 was 23,000 barrels of oil per day, about three-quarters of Myanmar's total production. [6]
Four years later he bought it outright and invested further funds but it was up against the monopoly of the Kingdom of Upper Burma which controlled oil exploration. It was in 1886 that Cargill obtained exploration rights, as well as improving refining methods in Rangoon, and he founded Burmah Oil Ltd that year. David Sime Cargill greatly ...
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Myanmar is a country rich in jade and gems, oil, natural gas and other mineral resources. In 2013, its GDP (nominal) stood at US$56.7 billion and its GDP ( PPP ) at US$221.5 billion. [ 1 ] The income gap in Myanmar is among the widest in the world, as a large proportion of the economy is controlled by supporters of the former military government.
In 1904, he succeeded his father as chairman of the Burmah Oil Company and its associates, remaining in the post until 1943. Cargill (through his subsidiary Concessions Syndicate Ltd) provided from Glasgow the necessary finance, plant and equipment, and skilled manpower for the long drawn-out task of wresting oil from the inhospitable land of Persia.
The oil industry, which was previously controlled by American and British companies, such as the General Exploration Company and East Asiatic Burma Oil, were forced to end operations. In its place was the government-owned Burma Oil Company, which monopolised oil extraction and production. In August 1963, the nationalisation of basic industries ...