缅甸炼油工业现状及投资机会分析

Myanmar′s Refining Industry Today and Investment Opportunities

缅甸能源部是缅甸石油与天然气业的主管部门,其下设的缅甸石油化工公司负责炼化和加工石油及天然气以生产石化产品。缅甸现有的3家炼油厂的设计加工能力合计6866t/d,约合230×104t/a,由于建成年代较早,设备老化严重,实际加工能力仅为设计能力的1/3左右。缅甸原油资源不足,炼油厂流程简单,成品油质量较差,约70%以上的成品油依赖进口,汽柴油尚未完全市场化。缅甸炼油项目面向全球招标,这为我国投资者和工程公司的参与提供了机会和切入点。不过其中也存在一定风险,包括政府征收、战争及政府违约等宏观风险,以及投资政策、税收政策、外汇风险、环保及劳工政策等。中国投资公司和工程公司要加强与缅甸能源部及缅甸石油化工公司的沟通和交流,遵守当地法律法规,充分考虑项目风险因素,采取与当地具有军政背景的实力集团合作经营,获取特许经营权,所有经营活动尽量以美元结算,购买海外投资险,以出口加工的形式销售成品油等风险防护措施。

Myanmar＇s Ministry of Energy is the governing body of the country＇s oil and gas industry and Myanmar Petrochemical Enterprise, managed by the Ministry of Energy, is responsible for refining and process- ing oil and natural gas to produce petrochemical products.Myanmar currently has three oil refineries with a combined processing capacity of 6866t/d,equivalent to about 230×104t/a.Due to aging of equipment,these re- fineries＇ actual processing capacities are only about one third of their designed capacities.Myanmar is short of crude oil resources and the refining processes of its refineries are simple.As a result,the quality of oil prod- ucts produced by the country is low and over 70% of the oil products used in the country are bought from aboard.The country＇s gasoline and diesel fuel sectors are not yet fully liberalized.Myanmar＇s bid invitation of global investors for its refining projects has provided an opportunity for Chinese investors and engineering companies to enter the country＇s refining sector.However,there are also risks in these projects,including macro risks such as government confiscation,war and government default,policy risks relating to investment policy,tax policy,environmental and labor policies as well as foreign exchange risks.Chinese investment com- panies and engineering companies should strengthen their communication and exchange with Myanmar＇s Min- istry of Energy and Myanmar Petrochemical Enterprise ,obey local laws and regulations ,give full consideration to risk factors involved in a project,focus on partnering local powerful groups with military-political back- ground to obtain franchise rights ,try to use US dollar to settle their transactions ,buy overseas investment in- surances and sell oil products in the form of export processing.