PTT Plc, the national energy conglomerate, is moving forward with plans to establish a retail oil business in Myanmar by working with a local partner.
The move serves PTT's goal to become a regional oil retailer within five years, said Auttapol Rerkpiboon, executive vice-president for communication and international market.
PTT Oil Myanmar Co will be registered to operate businesses in the neighbouring country, pending approval from the company's board of directors. This will be in time for Myanmar to open its retail oil sector to foreign investors.
(Source: Bangkok post)