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Myanmar, Singapore-based energy group to jointly distribute aviation fuel

Xinhua, September 26, 2015 Adjust font size:

State-owned Myanmar Petroleum Products Enterprise (MPPE) in cooperation with Singapore-based Puma energy group will carry out distribution of aviation fuel in Myanmar, state-run media reported Saturday.

The joint-venture agreement was signed by U Thant Zin, managing director of MPPE and Robert Jones, chief operating officer of Puma, in Nay Phi Taw on Friday, said the Global New Light of Myanmar.

Puma will inject 51 million U.S. dollars into the joint venture business as an initial investment.

MPPE owns a 51-percent share of the business while Puma owns 49 percent.

Puma Energy Group Pte Ltd operates in 45 countries with 10,423 refilling stations, 80 stores and distribution stations, plus two refineries. Endi