Jun 1, 2016

MPPE joins with Puma Energy to distribute jet fuel

The Myanma Petroleum Products Enterprise (MPPE) under the Ministry of Electric Power and Energy is planning to cooperate with National Energy Puma Aviation Services to distribute jet fuel at 11 airports, said MPPE director general Thant Zin.

The ministry signed a joint-venture agreement with Puma Energy in October 2015 to form National Energy Puma Aviation Services (NEPAS). The joint venture’s licence was granted by the Myanmar Investment Commission (MIC) before the new government took over.

The company has distributed jet fuel at Yangon International Airport since October 1, 2015, and it will distribute jet fuel at 11 airports before July 31 this year, according to the director general.

The ministry seek to distribute quality jet fuel, but it has faced some difficulties buying machinery and safety equipment as it is a state-owned enterprise. The ministry planned to form a joint-venture company since 2014, said Thant Zin.

A total of 51 per cent of the joint-venture company is owned by the ministry, and the rest is held by Puma Energy.

Source: Eleven Weekly Media