Five small scales Octane 92 mini refineries will be built in Magway Region after Regional Government call tenders

Five small scale Octane 92 refineries will be built in Magway Region after the Magway Regional Government has invited tenders for the projects to be implemented on 200 acres of land in Chaukkan Village in Pakkoku Township.

These refineries will become the country’s first ones to refine Octane 92 as other refineries in the country can only refine Octane 68.

The new refineries will refine oil from small scale wells in the region.

The project is worth more than $5 million investments and required the approval from the union government.

The companies have started constructions for the refines including roads, bridges, and power grids and Sunny Global Manufacturing Co. Ltd’s refinery is at the position near to commence.

Ninety percent of the oil in Myanmar is imported while the remaining 10 percent is produced locally.

Myanmar imports oil primarily through Singapore with monthly volumes of around 200,000 tons of gasoline and 400,000 tons of diesel. There are 2,000 fuel stations and 50 oil importer companies in Myanmar

According to Worldometers, Myanmar consumes 123,000 barrels per day (B/d) of oil as of the year 2016. Myanmar ranks 74th in the world for oil consumption, accounting for about 0.1% of the world’s total consumption of 97,103,871 barrels per day.

Myanmar produces 15,634.00 barrels per day of oil (as of 2016) ranking 85th in the world.

(Myanmar Business Today: https://mmbiztoday.com/five-octane-92-mini-refineries-to-be-built-in-magway/ )

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