• What if Myanmar doesn’t increase oil production?
  • If the country fails to increase oil production or to complete the new refinery, Myanmar would be required to pay from $4 million to $12 million in addition to the costs calculated above. However, the additional costs constitute only 4% to 10% of the cost of the base case, which is insignificant.
  • When was oil discovered in Burma?
  • Early British explorers in Burma discovered a flourishing oil extraction industry in the town of Yenangyaung in 1795. The area had hundreds of hand-dug oil wells under the hereditary control of 24 Burmese families. British Burma exported its first barrel of crude oil in 1853.
  • Is oil stockpiling a good option for Myanmar?
  • Nevertheless, ticket stockpiling is cheaper and could play a supplemental role for many countries, including Myanmar. Another form of international oil stockpiling is joint stockpiling with a crude oil exporter.
  • How long does oil stockpiling last in Myanmar?
  • If Myanmar installs a refinery with a 5 Mt/y capacity, oil stockpiling in 2040 will change to products (50), crude oil (10), and ticket and joint stockpiling (10). By contributor, the private sector will hold the products for 34 days, followed by SPR by the government (26). How can 60 days of national oil stockpiling be achieved?
  • Should Myanmar set a target for oil stockpiling in 2040?
  • This report, considering these issues, sets 60 days¡¯ consumption by 2040 as an appropriate target for oil stockpiling quantity in Myanmar. It is also sensible to establish SPR because the security oil supply justifies more government involvement, and the oil industry burden should be minimised.