CNPC To Build And Operate China-Myanmar Pipeline

China National Petroleum Corp. signed an agreement with Myanmar's Energy Ministry to receive exclusive rights to build and operate the China-Myanmar crude oil pipeline.

The deal grants operating concession of the pipeline to the CNPC-controlled South-East Asia Crude Oil Pipeline Ltd. The 479-mile pipeline, extending from western Myanmar to the southwestern Chinese province of Yunnan, is expected to carry 12 MMt/a of oil initially.