To reduce reliance on the oversea market and to fulfil the local demands for oil products, Myanmar is planning to build new high-quality oil refineries, an official from the Ministry of Electricity and Energy said. Through China-Myanmar crude oil pipeline, medium oil refineries will be built in Myanmar's central region.
Under joint venture and public-private partnership system, new Integrated Refinery and Petrochemical Complex near Yangon region will be constructed.
In FY 2016-2017, 4.297 million barrels recorded by Myanmar's crude oil production. So far in FY 2019-2020, 3.168 million barrels have been produced. In FY 2016-2017, 7.67 trillion cubic feet registered by natural gas production. So far in FY 2019-2020, 670 billion cubic feet have been manufactured.
