Staff Reporter :
Bangladesh Petroleum Corporation (BPC) is likely to import 1.3 million tonnes of crude oil from Saudi Arabia at a cost of Tk 9337 crore.
Seven lakh tonnes crude oil will be imported from Saudi Arabia and 600,000 tonnes will be procured from the United Arab Emirates (UAE).
Cabinet Purchase Committee recently approved a proposal of the Energy Ministry in this regard.
As per the proposal, the state-owned Bangladesh Petroleum Corporation (BPC) will buy 700,000 tonnes Arabian light crude (ALC) oil from the Saudi state-owned Saudi Arabian Oil Company (Saudi Aramco) at an estimated cost of $ 628.542 million. The BPC will import 600,000 tonnes of Murban crude oil from the UAE state-owned Abu Dhabi National Oil Company (ADNOC) at a cost of $ 564.018 million.
After import, all the crude petroleum will be refined at the Bangladesh state-owned Eastern Refinery Plant in Chittagong. Although the price of petroleum drastically declined in recent months in the global market and was selling at $ 55 per barrel, Bangladesh is still paying $117.88 per barrel as FOB price for the period from January to June 2015 and $ 127.88 for July-December period as per contract signed before fall of price. The estimation was made including vessel charge, service charge, lighterage charge, VAT and taxes.
Bangladesh Petroleum Corporation (BPC) is likely to import 1.3 million tonnes of crude oil from Saudi Arabia at a cost of Tk 9337 crore.
Seven lakh tonnes crude oil will be imported from Saudi Arabia and 600,000 tonnes will be procured from the United Arab Emirates (UAE).
Cabinet Purchase Committee recently approved a proposal of the Energy Ministry in this regard.
As per the proposal, the state-owned Bangladesh Petroleum Corporation (BPC) will buy 700,000 tonnes Arabian light crude (ALC) oil from the Saudi state-owned Saudi Arabian Oil Company (Saudi Aramco) at an estimated cost of $ 628.542 million. The BPC will import 600,000 tonnes of Murban crude oil from the UAE state-owned Abu Dhabi National Oil Company (ADNOC) at a cost of $ 564.018 million.
After import, all the crude petroleum will be refined at the Bangladesh state-owned Eastern Refinery Plant in Chittagong. Although the price of petroleum drastically declined in recent months in the global market and was selling at $ 55 per barrel, Bangladesh is still paying $117.88 per barrel as FOB price for the period from January to June 2015 and $ 127.88 for July-December period as per contract signed before fall of price. The estimation was made including vessel charge, service charge, lighterage charge, VAT and taxes.
