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    IOC To Export Jet Fuel To Myanmar, Explore LPG Marketing Deal

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    By on PSU

    (TH)

     Indian Oil Corporation (IOC) will start exporting aviation turbine fuel (ATF) to Myanmar from next month. The State-owned oil major is also exploring the prospects of LPG exports and will open an office in Yangon.According to IOC sources, the company will export 12,000-14,000 tonnes of ATF 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. Diesel is added to the consignment to ensure critical volume and optimise shipping costs.

    Myanmar is interested in a long-term contract to meet its 15,000 tonnes a month ATF requirement. A team from the joint venture will visit the IOC facilities in India soon to discuss the long-term business prospects.

    Meanwhile, the Myanmar government approved a proposal from IOC to open office in Yangon. The oil major is also exploring the possibility of getting comprehensive licence for end-to-end LPG distribution in Myanmar. A company delegation visited prospective partners in Yangon in October.

    Parami Energy Group of Myanmar, which is already pursuing a joint venture with Numaligarh Refinery (NRL) for sourcing petroleum products through the More-Tamu land border, has expressed interest in participating with IOC in LPG distribution. Parami was recently awarded the LPG import and distribution licence. In a recent interview to BusinessLine in Yangon, the company chairman and CEO, Ken Tun, said, he was negotiating with IOC and Shell for sourcing LPG.

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