Bangladesh Petroleum Corporation (BPC) has decided to purchase 51 lakh tons of refined and crude oil for 2014, senior corporation officials said.
They said that as per the decisions, the BPC will spend Tk 40,000 crore on the overall import. ‘Last week we have finalized the premium (insurance, freight etc) of 38 lakh tones of five refined product with nine different suppliers during our Singapore visit,” said BPC Chairman Md Eunusur Rahman. ‘Rest 13 lakh tones crude oil will be imported from ARAMCO of Saudi Arab & ADNOC of Abu Dhabi, UAE, at their Government Sailing Price-GSP rate,” he added.
A five-member team headed by Ministry of Energy & Mineral Resources Secretary Mozammel Hossain Khan last month visited Singapore to negotiate the premium. The delegation also included the BPC chairman.
BPC official said Bangladesh’s sole state-owned oil refinery — Chittagong Eastern Refinery Limited (ERL) – have the refining capacity of 13 lakh tones a year. “Due to this limitation we cannot import excess crude,” a senior official said.
Talking to the Independent, BPC Chairman said at Singapore negotiate meeting, we settled the premium for diesel at $4.80 whereas $5.80 for aviation fuel and $7.50 for Octane for each barrel which was same as previous period. “But we were able to reduce the premium of furnace oil by $2 per ton which was $37 on previous time,” the official said.
BPC will import a total of 700,000 tones of furnace oil for January to December 2014. At the same time they will import 27 lakh tones of diesel, 3 lakh tonnes of aviation fuel, 30,000 tonnes of octane 10,000 tones of kerosene from the foreign suppliers.
The main suppliers are KPC of Kuwait, PATCO of Malaysia, ENOC of UAE and MIDOR of Egypt. Two Chinese company PETRO China & UNIPEC, philipino company PNOCL, Indonasian company BSP also supply refine fuel for BPC as per negosiation meeting at Singapore last week
Courtesy of The Independent
