PTT Oil Company from Thailand is preparing to open two filling stations in Yangon in coming year and plan to sell nearly 500,000 liters of fuel per month, Thai’s Medias reported.
The PTT Group aims to expand the
building of its oil refinery and other business in Southeast Asian
countries and plans to open filling stations in Myanmar, Laos and
Cambodia.
Moreover, the group has planned to operate its petrochemical business in Vietnam.
“We are planning to expand our
petrochemical business in Indonesia, Malaysia and Vietnam to meet the
target time of 2015,” Chairman Pailin Chuchottaworn of the PTT group
said.
In Myanmar, there are two offshore oil
and natural gas exploration projects namely Yadanar and Yedagon provided
with the assistance of foreign investments.
Although Myanmar has many onshore and offshore oil blocks, it is in need of the techniques now.
For that reason, Myanmar is cooperating a
joint venture with foreign companies in offshore blocks and selling
more natural gas to foreign rather than local consumption.
Moreover, Myanmar imported a thousand gallons of petroleum monthly for local demand because of insufficient local consumption.
The international companies have
invested over US$ 36 billion in hydropower, oil and gas and mining
sectors, according to the Ministry of National Planning and Economic
Development.
source: Eleven Myanmar
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