No winner for Thanlyin Oil Refinery

The Ministry of Energy will call another tender to refurbish the Thanlyin oil refinery, after the previous candidates have fallen short.

In January, it was announced that two firms – Thailand’s PTT and Singapore’s Puma Energy – had been shortlisted, after about 20 international and local companies had flagged interest.

Ministry of Energy director U Myint Zaw said that the second tender will come as none of the companies that entered the previous tender, begun in July 2014, had been selected as a winner.

“We’ve reviewed what we found in the previous bid. We now have a plan to re-invite a tender after revising our policies,” he said. U Myint Zaw added the process is expected to take about six months.

He added the previous tender had assessed companies based on how the arrange repairs and renovations of a cost-effective petrochemical plant, but they all fell short. The ministry will now revise its criteria before launching the next tender.

The dated Thanlyin refinery has a capacity of 20,000 barrels per day, and is run by MPE, though its production rates are in decline.

A report on the refinery of the second half of the 2013-14 financial year also met objections from the Auditor General’s office earlier this year. The report said that listed stock of gas and petrol was short, while there had been some oil waste.

Source: Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here