PTT signs agreement to set up retail oil venture in Myanmar
PTT Plc, the national energy conglomerate, is moving forward with plans to establish a retail oil business in Myanmar by working with a local partner… Currently, oil consumption per head in the neighbouring country is very low at 38 litres annually, compared to 140 litres in Cambodia and Thailand’s 700 litres. Each year, Myanmar consumes 2.4 billion litres of oil compares with 44 billion litres in Thailand…. The group has already established a presence in Laos and Cambodia with a plan to invest 800 million baht in oil retailing business in the two countries. Petrol stations in Cambodia will be increased to 45 locations from the present 14 and double to 60 stations in Laos through PTT Cambodia Co and PTT Laos Co, respectively….
