CNPC Joins Burmese Refined Oil Retail Market

PetroChina International (Singapore) Pte Ltd, a branch of China National Petroleum Corporation (CNPC), recently launched its first gas station in Myanmar, marking CNPC's entry into the Burmese retail fuel market.

The gas station is also the first foreign petrol brand in the country.

According to Burmese investment policy, foreign-funded enterprises are not allowed to run domestic gas stations by themselves. Therefore, the gas station is sponsored jointly by Singapore PetroChina (SPC), which is affiliated to PetroChina International (Singapore) Pte Ltd, and a local Myanmar company. SPC will provide the fuel products.

The gas station, covering 750 sq m, lies in the city center of Yangon, and has been renovated to have the same image and standards as CNPC's other gas stations.

The newly launched station also follows the company's requirements in terms of security and operation mode.

The station has rapidly gained popularity in the local market with its brand reputation and high-quality products.

Its sales volume has been increasing since its opening with average daily sales growing 58 percent than those before the reconstruction.

In recent years, PetroChina International (Singapore) Pte Ltd has made breakthroughs in the Burmese market and more than a million tons of refined oil is exported to the country per year from China.

In September 2018, the company's joint-ventured oil depot in Yangon went into operation and in April 2018, the first batch of refined oil was exported to Myanmar, which was the start of refined oil exports using China's southwest land transport.

In October 2018, the volume of exports of refined oil transported overland exceeded 10,000 tons. After that, large-scale refined oil began to be transported from China to Myanmar overland.

According to PetroChina International (Singapore) Pte Ltd, the company will increase its businesses within the country through developing gas station networks in Yangon and enhancing its retailing infrastructure construction.

More SPC's gas stations are to be sequentially launched in Sagaing, Mandalay and Naypyitaw after the establishment of the Yangon gas station, the company said.

Myanmar's first foreign brand gas station opens in Yangon, Myanmar. [Photo/China National Petroleum Corporation (CNPC)]

(Executive editor: Li Shuling)