NSS – Oct 18 

The Union Minister for Energy Ko Ko Lwin expressed that the state-owned oil refineries that are temporarily suspending their operations should be re-operate urging to find ways to produce high-quality petroleum products. 

Since the refineries are shutdown operations, equipment and related machines are getting damaged and depreciated. 

As a matter of fact, the state-owned oil refineries can produce petroleum products only three percent of total domestic consumption.

He highlighted those information in his visit to No.1 Thanlyin Refinery and Tank Terminal on October 17 in Yangon.

It is reported that the State Administration Council is seeking ways to re-function the oil refineries. 

According to the information released by Naypyidaw, Myanmar's annual expenditure on fuel and natural gas imports is approximately 2 billion USD.

There were also discussions and negotiations between Myanmar and Russia on construction of new oil refinery plant in Myanmar. 

The Union Minister Ko Ko Lwin also said that Myanmar expects to build petrochemical complex standard factories and therefore, the country is inviting the international companies to invest and assist for the required technologies and investments.