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Myanmar, India mull building cross-border oil pipeline
What has happened?
India has proposed to build a pipeline from the country’s east coast to deliver oil products, mainly diesel, to Myanmar, a Myanmar government official said on Friday.
Working group formed
A working group has been formed by Myanmar and India to look at issues such as security, land and oil storage, and how to price the fuel and the oil’s specification
Main imports from Singapore
Myanmar currently imports about 100,000 barrels per day (bpd) of diesel and gasoline mainly from Singapore, and produces only 12,000 bpd of oil locally.
High land costs an issue
The country has invited investors to build refineries but high land cost is one of the main issues to overcome
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