India has proposed to build a pipeline from the country’s east coast to deliver oil products—mainly diesel—to Myanmar, a Myanmar government official said on March 23.
“We have already connected [oil and gas] pipelines to China and Thailand, and we considered connecting [oil] pipelines to India as well as Bangladesh. This is under consideration to share petroleum products,” Zaw Aung, director general of the Ministry of Electricity and Energy’s oil and gas planning department, said at the OTC Asia conference.
A working group has been formed by Myanmar and India to look at issues such as security, land and oil storage, and how to price the fuel and the oil’s specification, he told Reuters.
Myanmar currently imports about 100,000 barrels per day (bbl/d) of diesel and gasoline mainly from Singapore, Zaw Aung said, and produces only 12,000 bbl/d of oil locally.
The country has invited investors to build refineries, but high land cost is one of the main issues to overcome, he said.
The country has also held its first round of talks with China and Bangladesh to discuss building an electricity transmission grid across borders to ease power shortages, Zaw Aung said.
Recommended Reading
Hess Pushes Shareholders to Vote in Favor of $53B Chevron Merger
2024-04-01 - Hess Corp.’s board is unanimously recommending its shareholders vote in favor of the proposed $53 billion all-stock merger with Chevron Corp., according to Chevron’s March 28 Securities and Exchange Commission filing.
Pembina Cleared to Buy Enbridge's Pipeline, NGL JV Interests for $2.2B
2024-03-19 - Pembina Pipeline received a no-action letter from the Canadian Competition Bureau, meaning that the government will not challenge the company’s acquisition of Enbridge’s interest in a joint venture with the Alliance Pipeline and Aux Sable NGL fractionation facilities.
California Resources Corp., Aera Energy to Combine in $2.1B Merger
2024-02-07 - The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.
Diamondback Energy to Acquire Permian’s Endeavor for $26B
2024-02-11 - Diamondback Energy will acquire Endeavor Energy in a cash-and-stock agreement that will create a Permian juggernaut with a combined value of more than $52 billion in a merger of near equals.
ARM Energy Sells Minority Stake in Natgas Marketer to Tokyo Gas
2024-02-06 - Tokyo Gas America Ltd. purchased a stake in the new firm, ARM Energy Trading LLC, one of the largest private physical gas marketers in North America.