IOC to enter fuel marketing, retail business in Myanmar

Indian Oil Corporation (IOC) has submitted its bid to enter fuel marketing and retail business in Myanmar. The state-run firm currently has marketing subsidiaries in Sri Lanka, Mauritius and West Asia.

Moreover, as part of its overseas expansion, the company is set to come up with its first international product pipeline to Nepal.

Last year, Myanma Petroleum Products Enterprise had invited private companies to form a joint venture for importing, storage, distribution and sale of all petroleum products.