Prospect and Promote the Development of Downstream Industry in Myanmar

Prospect and Promote the Development of Downstream Industry in Myanmar

Date: 30-31 March, 2016

Venue: Summit Parkview Hotel

We are pleased to announce that the Myanmar Refining & Petrochemical Summit 2016 will be held on March 30-31, 2016 in Yangon, Myanmar, where senior refining and petrochemical professionals from Myanmar and beyond will meet to discuss the latest investment developments,regulation landscape and operational challenges facing the refining and petrochemical industry.

With the robust economic development and growing demand for energy and petrochemical products, Asia remains one of the most dynamic regions for investor, energy companies, refiners and petrochemical producers. Among the Asia countries, Myanmar is trying to expand both refinery and petrochemical capacity with huge ambitions.

As Myanmar's upstream boom continues to draw the world's oil and gas players'attention, the Ministry of Energy of the Republic of the Union of Myanmar has began to step up its efforts to advance its under-developed downstream industry. With a population of 60 million and a predicated 8-9% GDP growth in the coming decade, Myanmar boats a huge potential for downstream development.

Currently, Myanmar has only 3 oil refineries (two of which are almost 60 years old) with a total refining capacity of 0.056 mmbpd and needs to import 10,000 to 15,000 barrels a day of diesel and gasoline, and an equal volume of jet fuel every month. According to international report, the registered number reached 4 million from 2009's 2 million, and imported refined oil grows to 1.5 billion USD in 2013. Recently, Vitol Group SA, the world's largest independent oil trader, and TrafiguraBeheer BV, the world's third-largest independent oil trader, are among those that have made recent investments or are considering entering Myanmar's downstream market.

Reference: http://www.myanmardownstream.org/

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