Staff Reporter :
Though importing of Russian oil is in primary level, the ministry concerned is contemplating to import refined oil from the neighbouring country India.
According to sources of Bangladesh Petroleum Corporation (BPC), a meeting was held on importing Russian oil yesterday, but didn’t take any concrete decision yet in this regard.
The officials of the Ministry of Power, Energy and Mineral Resources and the BPC are working on how to buy Russian oil after getting directives from the Prime Minster, a BPC official told The New Nation on Sunday on condition of anonymity.
According to sources, “Currently, India has been importing Russian oil, defying US sanctions, while Bangladesh has a long-term contract with India to import refined oil from its refinery at Numaligarh in Assam state.”
The possibility of importing petroleum from Russia came into discussion at the policymaking level, following an offer from a Russian company to sell its refined petroleum, especially diesel, at a cheaper rate to Bangladesh.
“The matter is in primary level,” Director (Marketing) of BPC Anupam Barua said this while talking to this correspondent on Sunday evening.
Sources said that it could be a possible way to avert the risk in the import of Russian oil at a cheaper rate if there is a bilateral arrangement between the two countries regarding the business.
Russneft, a Russian oil company headquartered in Moscow, recently offered the state-owned BPC petroleum at US$ 59 per barrel against a global market price of over $100 per barrel.
As per the offer, the Russian company will reach its refined petroleum to Chattogram port at the rate which includes the premium and shipping cost as well.
However, the Ministry of Power, Energy and Mineral Resources has not yet officially disclosed anything about the Russian company’s offer.
According to official sources, after receiving the offer from Russia on petroleum sale, several concerned ministries including the Foreign affairs, Finance and Energy and Mineral Resources are assessing the potential risks and different processes.
Russia has been facing economic sanctions from the US and its European allies following Russia-Ukraine war.
If any country directly imports Russian oil, it may face similar sanctions, said the officials, adding that is why any move in this regard will not depend on the decision of the Ministry of Power, Energy and Mineral Resources alone.
Prime Minister Sheikh Hasina at the Executive Committee of the National Economic Council (ECNEC) meeting on August 16 said that the government wants to buy fuel, fertilizer and wheat from Russia.
In this connection, she mentioned she had given the responsibility to her Principal Secretary to talk to the Russian Ambassador regarding the matter.
“The Foreign Ministry can take initiative in this matter, we will procure fuel from them (Russia) with our own funds as the SWIFT is closed and the price of dollar is very high,” she said.
Meanwhile, Power Cell director Mohammad Hossain said that if the government can manage the import of diesel at cheaper rate, operation of the diesel-run power plants will be resumed to increase the power generation.
