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22-Nov2017

IOC to start exporting jet fuel to Myanmar from December 2017: Report

Indian Oil Corporation (IOC) is reportedly all set to start exporting aviation turbine fuel (ATF) to Myanmar from December 2017. The State-owned oil major is also exploring the prospects of LPG exports and will open an office in Yangon. The company will export 12,000-14,000 tonnes of ATF and an equivalent amount of diesel to Myanmar for the next three months from Paradip Refinery on the Odisha coast to a joint venture of State-owned Myanmar Petroleum Enterprise (MPE) and Puma Energy. Diesel is added to the consignment to ensure critical volume and optimise shipping costs.

Meanwhile, the Myanmar government approved a proposal from IOC to open office in Yangon. The oil major is also exploring the possibility of getting comprehensive licence for end-to-end LPG distribution in Myanmar.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.


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