US sanctions target Myanmar’s NOC

But the measures also further complicate gas-dependent Thailand’s supply outlook

The US has imposed financial sanctions on Myanmar’s state oil company in a further blow to the pariah nation’s troubled oil and gas sector. And the pressure on Myanmar could also cause additional problems for neighbouring Thailand and its NOC, PTTEP. The latest sanctions will prohibit “financial services to or for the benefit of [state-owned] Myanma Oil and Gas Enterprise [MOGE]” from 15 December. The US Treasury Department’s Office of Foreign Assets Control (OFAC) also announced other measures targeted against the regime, and closer sanctions co-ordination with the UK and Canada. “As Burma’s [sic] most lucrative state-owned enterprise, MOGE provides hundreds of millions of dollars in foreig