Kyun Hla in Sagaing Province has a large oil production and provides a lot of employment opportunities for locals.
Locals said that the Thaphan Chaung oil field in Kyunhla Town, Sagaing Province produces about 5,000 barrels of oil per day and provides good employment opportunities for locals.
There are currently about 10 wells drilling about 1,800 barrels of oil, so all the wells are spilling oil, and the daily oil production is about 500 barrels.
Locals use motorcycles and bicycles to transport oil to the refinery near the village of Naung Kauk. According to locals, about 1,000 motorcycles and about 100 tractors ply the road every day.
He said the current price of oil near the oil well is 280,000 kyats per barrel and is resold to refineries for 350,000 kyats.
The field is located about 20 miles west of Thaphanseik Reservoir in the Zee Phyu Mountains in the Naungkauk District, an area where Honda Myanmar has previously drilled.
After the company left, locals were digging for their own oil at the site.
India buys pulses from Myanmar, leading to rising pulse prices
The Indian government is planning to purchase spare pulses from Myanmar, according to the Ayal Trade Center of the Myanmar Trade Promotion Agency.
Currently, India has about 20,000 tonnes of pulses left, the ministry said.
According to international market reports, domestic prices in Pakistan are rising due to reports that India will buy Myanmar beans as reserves.
Pakistan, which produces pulses and exports them to India, has also seen a decline in jute production this year. Currently, Myanmar beans are imported from both local and foreign countries. Foreign demand is strong and prices are rising sharply every day.
The price of beans in Myanmar was only 1.45 million kyats in early June, but has now risen to around 1.7 million kyats.
The Indian government has a firm stance. Pulses prices have been rising steadily since June, when it announced an increase in minimum prices for rain-fed crops including green peas.
According to Indian sources, India, the main importer of beans from Myanmar, has also seen a decline in crop production this year, with farmers planting more cotton and soybeans, and production of rice and beans falling.
Despite high demand for pulses, the Myanmar Trade Promotion Agency (MICA), a mega trading hub, has advised the Indian government to note that it may introduce policies to control prices.
