Bangladesh Petroleum Corporation (BPC) is deciding to increase oil reserves as the price of fuel in the world market has started to decrease.
21 lakh tonnes of fuel oil is being brought from six countries at a cost of 18 thousand 760 crores.
Chairman of BPC ABM Azad said that fuel oil reserves in the country have started to decrease slightly. BPC has taken to import fuel from some countries. The process of importing diesel through pipeline from India in June has also been finalised.
Some purchase orders have been placed. A total of 21 lakh tonnes of fuel oil will be brought from India, Indonesia, United Arab Emirates, China, Malaysia and Thailand. It contains 20 lakh 40 thousand tons of refined fuel oil and 60 thousand tons of diesel.
BPC has set a target of 54 lakh 60 thousand tons of fuel oil import in the current year. Of this, 38 lakh 60 thousand tons is refined oil. The rest is crude oil. All oil will be imported at the government level (G2G).
He said that the import of diesel through a pipeline from India will start next June. A pipeline has already been constructed between the two countries to bring diesel.
About 131.5 km India-Bangladesh Friendship Pipeline (IBFPL) has been constructed to import diesel from India through pipeline. Pre-commissioning of diesel imports through this pipeline is underway. Next June, the commissioning of diesel import through that pipeline and the experimental import of diesel will start.
According to BPC sources, the capacity of the country's largest fuel oil storage facility under the management of Eastern Refinery is 5 lakh 2 thousand 290 tons. The total storage capacity of depots under the management of fuel oil marketing companies Padma, Jamuna Oil and Meghna Petroleum is about 8 lakh tonnes. Padma Oil has a storage capacity of 1 lakh 41 thousand 573 tonnes at its main depot in Chattogram.
The company has a storage capacity of 35 thousand tons at Mongla in Bagerhat and 30 thousand 934 tons at Godnail in Narayanganj. Jamuna Oil has a storage capacity of 82 thousand 240 tonnes at its main depot at Chattogram and 29 thousand 630 tonnes at Mongla.
Meghna Petroleum has a storage capacity of 1 lakh 17 thousand 974 tonnes at its main depot at Chattogram and 27 thousand 972 tonnes at Mongla. Standard Asiatic Oil Company Limited (SAOCL) has a capacity of 33 thousand 625 tonnes. Capacity is also being increased through small depots.
Most of the country's energy needs are imported. Only 8 percent is coming from local sources. Adequate capacity to store fuel oil in the country is ongoing. The storage capacity of fuel oil is now only 13 lakh tonnes. The country needs to have at least 90 days of fuel oil in stock. Bangladesh is not able to take advantage of the decrease in the price of fuel oil in the world market due to lack of capacity increase.
A large part of this capacity is in the port city of Chattogram. The rest are in depots in different districts of the country including Narayanganj, Mongla in Bagerhat and Dinajpur.