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European oil firms will participate in Myanmar's first oil exploration tender since the easing of Western sanctions, but U.S. companies might wait for more concrete reforms, the head of a local oil firm said.
The tender will be the first opportunity in at least 15 years for U.S. oil firms to participate in Myanmar's energy sector after Washington relaxed sanctions this month to allow for new investment in the country, which is quickly emerging from nearly half a century of military rule.
Source: Chicago Tribune
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