TIL Desk/Business/New Delhi-Meanwhile, Oil Minister Dharmendra Pradhan who is in Myanmar has said that the country has huge unexplored hydrocarbon potential and that New Delhi and Naypyidaw need to have more engagement in the oil and gas sector.
Pradhan is on a five-day trip to Myanmar since Monday, scouting for opportunities in oil exploration, refining and products retailing. Oil minister’s trip comes months after Myanmar leader Aung San Suu Kyi visited New Delhi, courting investments in sectors left in disarray under nearly 50 years of a military dictatorship.
A sweeping electoral victory for Suu Kyi’s party in 2015 paved the way for the lifting of US sanctions against her country last year. India plans to sell refined crude oil products to Myanmar as part of New Delhi’s efforts to deepen ties with its eastern neighbour, which is expected to see strong demand for fuels as it builds new roads, factories, utilities and airports.
