FuelFree
Myanmar
Aye said. ?But on the other hand we need more sources of income so we?re also looking at how we could enter this business through corporatisation. It’s a free weekly round-up featuring the most important events shaping Myanmar. Kanbawza Group?s Brighter Energy is also believed to be planning a terminal, after receiving MIC approval for the import, storage, distribution and sale of LPG, gasoline and diesel inApril 2018. Founded in 1846,APtoday remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. Efforts to control prices would put downward pressure on profit margins and had made the retail sector less attractive to investors, he said.About 70 percent of Myanmar's current natural gas exports go to Thailand; in turn,Thailand gets about 30 percent of its natural gas from Myanmar. ShweTaung declined to comment on the structure of the deal, with a spokesperson saying it was ? confidential. Customers are not using taxis as fares have increased. Faced with the choice of losing money or breaking the law, some retailers are simply closing down. Several of the terminal plots lie empty, their local owners unable or unwilling to put in the money to develop them. The economy, already suffering from the coronavirus pandemic, has been strained further by public resistance to the army?s takeover, which has led to what some U.N. experts have characterized as a civil war. Otherwise it?d be too difficult because the price is too different.The central bank has yet to decide on quotas for selling dollars to importers, so distributors have had to delay their purchases and fuel is not being tranferred from ships to replenish storage tanks because payments haven?t been made, he said. ?The main problem is that it doesn?t have a stable and specific policy for the payment system for our importers to purchase imported fuel. Meanwhile, the restrictions on foreign investment before 2017 had stopped the industry from developing because most local companies did not have access to the financing that would enable them to develop terminals on their own. When a certain amount becomes available, we are forced to buy it as a group and later divide it among ourselves,? he said. For them, too, the black market is out of the question, because the price is higher than the retail reference rate. Three days later, the committee issued new rules for the industry, referred to as Standard Operating Procedures (SOPs). Myanmar?s military government deniedTuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo).The number of private fuel refilling stations reached to 1,228 so far in Myanmar, according to the Ministry of Energy on last Saturday The reason is obvious: its fuel is about K50 a litre cheaper The spokesperson for Myanmar?s ruling military council, Maj. Gen. Zaw Min Tun, told MRTV state television that some companies were spreading rumors about a fuel shortage because they did not want to trade at the dollar rate fixed by the central bank. CBM data for bankcustomer dealing shows above-average foreign currency trading after Thingyan, reflecting this injection of dollars to fuel importers. Many importers, distributors and retailers are unhappy; some appear to be pushing back. Retailers buy direct from traders abroad but typically do not have their own terminal or storage. There were also roadside vendors selling small bottles of gas at various prices. Drivers sleep with their feet out the window as they wait to fill up.And as fuel oil is one of the imports, other prices of imports will also go up. If the Central Bank sells dollars regularly like this, there won?t be any more fuel shortages. Under the agreement, which is only for retail, the SPC outlets will sell fuel imported direct from the company?s Singapore terminal.
That?s why we?re reluctant to sell retailers as much fuel as they want,? he said. Puma soon announced plans for up to 50 outlets within a decade, but so far none have open. It's going to get worse if things continue this way. In Yangon, there?s an additional hurdle: since the National League for Democracy took office, the regional government has effectively banned new fuel stations from opening. Myanmar?s military government denied Tuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo). So when anybody sells fuel into Myanmar, they sell it at a big premium. It’s a free weekly round-up featuring the most important events shaping Myanmar. Ultimately, the higher cost of shipping is past on to consumers. Founded in 1846,APtoday remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. Myanmar?s military government denied Tuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo). Only 92 Ron octane is widely available and being sold at 2,400 kyats. CBM data showed a large amount of foreign currency being traded to pay for the fuel. In 2015, Myanmar Petroleum Products Enterprise sought a partner for a joint venture to import, store and distribute fuel throughout the country, and nine companies submitted proposals. I think this is largely related to tax collection. ShweTaung declined to comment on the structure of the deal, with a spokesperson saying it was ?confidential. Although this was supposed to be reassuring, it underlines why shortages are occurring so frequently The bank inspects the documents again, before transferring the dollars to the designated trader in Singapore, who dispatches the fuel to Yangon. Less than 500 metres down Yadanar Road, aYangon Petrol station is doing brisk business.An undisclosed foreign company received permission from the Directorate of Investment and Company Administration in July 2018 to partner with GreenAsia Services, a subsidiary of National Infrastructure Holdings, to build jetty facilities and storage tanks and distribute petroleum products. The central bank has yet to decide on quotas for selling dollars to importers, so distributors have had to delay their purchases and fuel is not being tranferred from ships to replenish storage tanks because payments haven?t been made, he said. ?The main problem is that it doesn?t have a stable and specific policy for the payment system for our importers to purchase imported fuel. When the junta privatised more than 250 fuel stations in 2010, it sold them to a wide range of companies.That means they?ll only be allowed to buy enough US dollars to purchase those 5,000 tonnes, even if it?s not enough to meet demand. Foreign investors will, after a few times of that, say, well I?ve had enough. He spoke on condition of anonymity because his remarks critical of government policy could get him into trouble. On the final day, the CBM agreed to sell enough US dollars for fuel importers to meet domestic demand. The spokesperson for Myanmar?s ruling military council, Maj. Gen. Zaw Min Tun, told MRTV state television that some companies were spreading rumors about a fuel shortage because they did not want to trade at the dollar rate fixed by the central bank. Further shortages of 92 and 95 RON petrol were reported in late May and early June, with some stations running out or rationing their supplies, and shortly afterward CBM data again showed a large amount of US dollars being traded. Since 2010, Radio Free has supported the work of thousands of independent journalists, learn more about how your donation helps improve journalism for everyone. Zaw Min Tun accused Myanmar media outlets operating in exile, who generally oppose the military government, of causing problems. Dollars will be sold starting Wednesday to those qualified to purchase them, he said. Three days later, the committee issued new rules for the industry, referred to as Standard Operating Procedures (SOPs).
About 70 percent of Myanmar's current natural gas exports go to Thailand; in turn,Thailand gets about 30 percent of its natural gas from Myanmar The central bank has yet to decide on quotas for selling dollars to importers, so distributors have had to delay their purchases and fuel is not being tranferred from ships to replenish storage tanks because payments haven?t been made, he said. ?The main problem is that it doesn?t have a stable and specific policy for the payment system for our importers to purchase imported fuel. Founded in 1846,APtoday remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. The conversions would be made the official exchange rate of 1,850 kyats per dollar, less that the prevailing black market rate of 2,030 kyats per dollar. It?s not just Yangon, some filling stations have closed in Mandalay. However,Thailand and China have preferred to import LNG from more developed and cheaper sources rather than help develop Myanmar's export capacity, and other countries have been reluctant to invest due to international sanctions. Only 92 Ron octane is widely available and being sold at 2,400 kyats.
Customers are not using taxis as fares have increased. This sparked rumours of a shortage, which in turn prompted panic buying that only exacerbated the problem. Myanmar?s military government denied Tuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo). Myanmar?s military government denied Tuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo). Meanwhile, the restrictions on foreign investment before 2017 had stopped the industry from developing because most local companies did not have access to the financing that would enable them to develop terminals on their own. CBM data showed a large amount of foreign currency being traded to pay for the fuel. Ultimately, the higher cost of shipping is past on to consumers.The Ministry of Electricity and Energy denied there was a shortage, saying unfounded rumors and inadequate infrastructure for retail sales were to blame. On 17 May, a major importer and retailer, Denko, wrote to PPRD saying that unless it could get more fuel, it would have to prioritise its Yangon and Mandalay outlets, and may be forced to close its 38 fuel stations altogether. Fuel businesses have been sticking closely to this reference rate, out of fear that they could be prosecuted for profiteering.And until the money landed in these accounts, the tankers were not going to unload their fuel. He spoke on condition of anonymity because his remarks critical of government policy could get him into trouble.Although fuel importers and retailers were regularly among the top commercial taxpayers in the country, tax evasion was still widespread. The reason is obvious: its fuel is about K50 a litre cheaper. CBM data for bank-customer dealing shows above-average foreign currency trading after Thingyan, reflecting this injection of dollars to fuel importers. The economy, already suffering from the coronavirus pandemic, has been strained further by public resistance to the army?s takeover, which has led to what some U.N. experts have characterized as a civil war Astate monopoly was gradually broken up, with first local companies and then foreign firms getting the chance to invest in fuel storage, distribution and retail facilities. Support our work and the future of independent media, make your donation monthly to sustain our efforts. Less than 500 metres down Yadanar Road, aYangon Petrol station is doing brisk business. Foreign investors will, after a few times of that, say, well I?ve had enough. Retailers buy direct from traders abroad but typically do not have their own terminal or storage. When the junta privatised more than 250 fuel stations in 2010, it sold them to a wide range of companies. That?s why we?re reluctant to sell retailers as much fuel as they want,? he said.
PPRD rules require them to sell fuel for around K2,120 a litre, but the black market price is around K2,200, and labour costs and other expenses make the break-even point K2,250. Shwe Taung declined to comment on the structure of the deal, with a spokesperson saying it was ?confidential. But even though Myanmar reportedly boasts the world's 10th largest natural gas reserves, its natural gas production and exports have remained relatively stagnant since 2007, primarily due to a lack of LNG export terminals, undeveloped pipeline networks and inadequate production infrastructure. More broadly, land valuation and site acquisition have been among the key stumbling blocks for prospective foreign investors in both the retail fuel sector (known as downstream) and the import, storage and distribution business (referred to as midstream). It’s a free weekly round-up featuring the most important events shaping Myanmar. Meanwhile, the restrictions on foreign investment before 2017 had stopped the industry from developing because most local companies did not have access to the financing that would enable them to develop terminals on their own. But the ministry decided to give the green light anyway, he said, because it was clear that it would benefit the country. When the junta privatised more than 250 fuel stations in 2010, it sold them to a wide range of companies. Myanmar's natural gas production surged 100 percent in 2000, reaching a peak of about 13.5 billion cubic meters in 2007. Three days later, the committee issued new rules for the industry, referred to as Standard Operating Procedures (SOPs). Myanmar?s military government denied Tuesday that the country is suffering from a shortage of automotive fuel, after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations. (AP Photo). Zaw Min Tun accused Myanmar media outlets operating in exile, who generally oppose the military government, of causing problems. Dollars will be sold starting Wednesday to those qualified to purchase them, he said. Khin KhinAye said. ?But on the other hand we need more sources of income so we?re also looking at how we could enter this business through corporatisation. That means they?ll only be allowed to buy enough US dollars to purchase those 5,000 tonnes, even if it?s not enough to meet demand.Astate monopoly was gradually broken up, with first local companies and then foreign firms getting the chance to invest in fuel storage, distribution and retail facilities. Less than 500 metres down Yadanar Road, a Yangon Petrol station is doing brisk business. CBM data for bank-customer dealing shows above-average foreign currency trading afterThingyan, reflecting this injection of dollars to fuel importers. In Yangon, there?s an additional hurdle: since the National League for Democracy took office, the regional government has effectively banned new fuel stations from opening. Since 2010, Radio Free has supported the work of thousands of independent journalists, learn more about how your donation helps improve journalism for everyone. Customers are not using taxis as fares have increased. The reason is obvious: its fuel is about K50 a litre cheaper The economy, already suffering from the coronavirus pandemic, has been strained further by public resistance to the army?s takeover, which has led to what some U.N. experts have characterized as a civil war.There were also roadside vendors selling small bottles of gas at various prices.As rival operators are blocked from opening new stations, Yangon Petrol has reportedly secured anywhere from six to 26 sites in Yangon since late 2018. If granted, the CBM will then instruct a local private bank to sell the specified amount of dollars to the importer. Of course, this will be quite costly but the return in terms of economic growth will much outweigh the expense of dredging. Ultimately, the higher cost of shipping is past on to consumers. Many operators acquired just a handful of stations; relatively few are large enough to be potential partners for a multinational. Just a few months earlier, the Myanmar Investment Commission had abolished a requirement that foreign investors in the sector partner with the Ministry of Energy and Electricity The real sales volume was more than what was reported for tax reasons.