Burma ‘delays bid round’

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News Wires

 05 September 2012 07:41 GMT

Burma has put the brakes on an oil & gas tender round planned for this month as it seeks to meet higher transparency standards demanded by industry majors, a report has claimed.

The bourgeoning Southeast Asian nation will, however, still press ahead with the latest round of exploration tenders before the end of this year, according to the report from Reuters.

Burma had been expected to offer up to 23 offshore blocks and 18 onshore blocks in a tender process this month, but this has now been delayed, the news wire reported on Wednesday.

"Some of the oil companies, like Shell, are very strict about international standards like transparency, environmental, social and biodiversity impacts," an unidentified senior Energy Ministry official told Reuters.

"Therefore our leaders instructed…

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