Menu

India: IOC Plans To Export Jet Fuel To Myanmar

India: IOC Plans To Export Jet Fuel To Myanmar

12,000 - 14,000 tonnes of ATF is planned to be exported

Indian Oil Corporation (IOC) has decided to export aviation turbine fuel (ATF) to Myanmar and is also exploring the prospects of LPG exports, in addition to opening an office in Yangon.  12,000-14,000 tonnes of ATF is planned to be exported by the company and an equivalent amount of diesel to Myanmar for the next three months from Paradip Refinery on the Odisha coast to a joint venture of State-owned Myanmar Petroleum Enterprise (MPE) and Puma Energy.

In order to ensure critical volume and optimize shipping costs, diesel is added to the consignment.  To meet its 15,000 tonnes a month ATF requirement, Myanmar is interested in a long-term contract, for which a team from the joint venture will visit the IOC facilities in India soon.

Parami Energy Group of Myanmar, has expressed interest in participating with IOC in LPG distribution, is already pursuing a joint venture with Numaligarh Refinery (NRL) for sourcing fuel products through the More-Tamu land border. The LPG import and distribution license was recently awarded to Parami.

Myanmar which produces barely 10,000 tonnes of LPG and imports approximately 50,000 tonnes a year is sufficient to cater to barely five per cent of the population. Roughly 80 per cent Myanmarese use wood-based fuel like firewood, with barely 30 per cent people having access to electricity. Majority of the people in Yangon use subsidized electricity which burns a hole in the government coffers.

NRL is proposing a joint venture with Parami, for which it is seeking the permission of the Union Petroleum Ministry to market fuel products in Northern and Western Myanmar regions closer to the land border.

Meanwhile, NRL is gearing up to seek the permission of the Union Petroleum Ministry to enter into a joint venture with Parami to market fuel products in Northern and Western Myanmar regions closer to the land border.Parami started importing paraffin through the Moreh border, till the facilities are ready. 500 tonnes of wax a month is consumed by Myanmar for making candles. Source: The Hindu Business Line PWKD24112017

Last modified onFriday, 24 November 2017 04:18
Login to post comments
back to top

Main Menu

News Menu

Company