Myanmar is planning to build new high-quality oil refineries so as to reduce reliance on the oversea market and to fulfill the local demands for oil products, an official from the Ministry of Electricity and Energy said on Monday.
"Medium oil refineries will be built in Myanmar's central region through China-Myanmar crude oil pipeline and new Integrated Refinery and Petrochemical Complex will be constructed near Yangon region under joint venture (JV) and public-private partnership (PPP) system," said Tin Maung Oo, permanent secretary of the ministry, at a press briefing.
Plans are underway to provide technical assistance and issue temporary licenses to the current operating mini oil refineries with daily production of 3,000 to 30,000 gallons of crude oil for the production of high-quality oil products, he said.
The ministry has already issued operating licenses to 170 private businessmen and also allowed 521 oil refineries to operate so far, he added.
Myanmar's crude oil production recorded 4.297 million barrels in FY 2016-17 and 3.168 million barrels have been produced so far in FY 2019-20 while natural gas production registered 7.67 trillion cubic feet in FY 2016-17 and 670 billion cubic feet have been manufactured so far in FY 2019-20.
Editor:Cherie
