Energy ministry cools Pertamina speculation

The Ministry of Energy held a press conference yesterday to quash rumours that Indonesian state-owned oil giant Pertamina had signed a contract to distribute petroleum products in Myanmar

Indonesian media reported earlier this week that Pertamina was the likely winner of a tender to import, store and distribute petroleum products in Myanmar, quoting the company’s marketing director.

Ministry of Energy deputy secretary U Min Min Oo told reporters in Nay Pyi Taw that the statement “is just the company’s opinion and has nothing to do with Myanmar’s energy ministry”.

“Pertamina Company said they will be distributing petroleum products and provided details of the number of stations they will open.” The tender is still being analysed, he said.

Petramina’s marketing director told media that the company would operate 18 fuel depots and 12 fuel stations though a joint venture with Myanmar Petroleum Products Enterprise (MPPE).

“We would invest US$33 million [in] the project,” he said.

MPPE issued a tender for a foreign joint venture partner last July. Fourteen companies initially expressed interest and three submitted applications. The tender winner has not yet been chosen, the deputy secretary said.

The other two contenders are Indian Oil Corporation and Singapore’s Puma Energy Group.

The winning company will sign a 30-year contract with MPPE and will take 49 percent of the profits.

 

Source: Myanmar Times

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