Strategic Oil Stockpiling in Myanmar
Myanmar currently meets 96% of its domestic petroleum demand through imports, with most of it used for industry and transport. This makes oil supply to Myanmar vulnerable to accidents, natural disasters, and geopolitical conflicts. Strategic oil stockpiling, therefore, is an important option for Myanmar. There are several types of stockpiling measures – ticket, joint, underground, onshore, and offshore tanks. Considering the cost of stockpiling, this report recommends to first facilitate ticket with foreign countries, second use joint stockpiling in collaboration with other ASEAN Member States and middle eastern countries such as Saudi Arabia, and finally engage in physical stockpiling using underground, onshore, and offshore tanks. Regarding the volume of stockpiling, this report recommends increasing the current private stock level of 34 days to 45 days of public–private stock by 2030 and to 60 days by 2040. The portion of public stock should be 20 days by 2040.