CHINA is understood to be planning to set up a refinery in Yunnan to refine crude oil transported via a pipeline linking China and Myanmar, according to PetroChina official Han Jingkuan. The two countries are conducting a feasibility study on building the pipeline to transport gas and oil, Mr Han was quoted as saying.
The two countries have been planning to build the pipeline through the Indian Ocean to relieve China's dependency on the Straits of Malacca, through which about 80% of China's oil imports are transported. The China National Oil & Gas Exploration & Development Corporation and Myanmar's state-owned oil companies signed a contract in January covering exploration rights in three deep-water areas in Myanmar, and China National Petroleum Corp also signed a contract with Myanmar's government in January covering oil and gas exploration in the country.
Basket is empty.
