The Myanmar government recently announced that the Thanlyin Refinery, located near Yangon, the country's largest city, would resume operations as early as within the year. Built in 1955, the refinery was shut down in 2017 due to unprofitable operations.

The facility has been fully modernized and will initially operate at a crude processing capacity of 500,000mt per year, with plans to expand to 3 mil mt/year in the future. Domestic production currently meets only about 3% of Myanmar's petroleum products demand. The government aims to reduce import dependence to lighten the strain on the use of foreign currency and ease fiscal burdens.