Ministry of Electric Power and Energy to open petrol stations

The Ministry of Electric Power and Energy is planning to cooperate with a foreign company to sell and distribute petrol and diesel fuel to government ministries and will open petrol filling stations to compete with the private sector, said Thant Zin, director general of the Myanma Petroleum Products Enterprise.

The joint-venture process will be finalised this year, and it will compete with private companies in selling petrol and diesel, he said.

“The former government allowed private companies to sell and distribute fuel in 2011. The ministry acknowledged that private companies are struggling to build big fuel tanks across the country. Authorities are concerned about shortages of fuel in the country as there are not enough fuel tanks in the Thilawa harbour. The ministry wants to stop private companies from controlling the prices of fuel, and it plans to open petrol stations. At present, it will go as a joint-venture company, and later, it will be transformed into a public company,” said the director general.

The ministry has put the project out to tender and selected three foreign companies to carry it out.

The three companies are Indian Oil from India and PT Pertamina and Puma Energy Group Pte Ltd from Indonesia. Puma Energy Group Pte Ltd is a partner for the enterprise to distribute jet fuel.

Source: Eleven Myanmar

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