More Russian oil heading to Asia – Bloomberg — RT Business News
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Myanmar has bought Russian fuel oil which will arrive in phases starting in September, the country’s leader, Min Aung Hlaing, said this week, according to Bloomberg.
The report reveals that the Southeast Asian country will import petroleum and petroleum products directly from Russia at a reasonable price for domestic distribution. He also noted that a ten-member committee set up for the purchase, storage and distribution of Russian oil met this month on the issue.
“We discussed the purchase and distribution of fuel oil from Russia months before our head of state’s visit to Russia in July,” he added. Government spokesman Zaw Min Tun was quoted at a press briefing on Wednesday. “During his visit, the deal was successfully concluded. Our goal is to buy high quality heating oil at low prices in the country where we can get it quickly. »
It remains unclear how the fuel from Russia will be transported to Myanmar, Bloomberg wrote, noting that the two sides have previously considered supplying the product via a pipeline through India or China.
Myanmar’s military government has started talks with Moscow over fuel shipments amid an exodus of international majors from the country’s oil and gas sector, which has led to power outages. Earlier this year, Chevron and TotalEnergies pulled out of a major Yadana gas project in Myanmar, which was a major revenue earner for the country.
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