Business | Oil & Gas
Bangladesh to buy oil from Kuwait at premium
Bangladesh will import 1.152 million tonnes of oil from Kuwait for consumption over the July-December period by paying a higher premium, a senior energy official said yesterday.
- Reuters
- Published: 00:15 June 29, 2008
Dhaka: Bangladesh will import 1.152 million tonnes of oil from Kuwait for consumption over the July-December period by paying a higher premium, a senior energy official said yesterday.
The purchase was proposed by the state-run Bangladesh Petroleum Corporation (BPC), the country's sole importer and distributor of fuel oil, and was likely to be approved by a government purchase committee yesterday, said Mohammad Mohsin, secretary of government energy and mineral resources division.
"The BPC has agreed to pay a higher premium cost to import diesel, kerosene, jet fuel and petroleum oil," he said.
The BPC annually imports nearly 2.2 million tonnes of refined oil from the state-run Kuwait Petroleum Corporation (KPC), almost 70 per cent of total demand for petroleum products. The total demand for refined and crude oil in the country is 3.8 million tonnes.
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