Furnace Oil
Govt to import 8 lakh tonnes in six months
Bangladesh Petroleum Corporation (BPC) will import 8 lakh tonnes of furnace oil to fuel the rental and quick rental power plants in six months beginning from July this year.
The BPC has recently finalised the import estimation of the heavy fuel oil (HFO) after it had received requirements from the Power Development Board (PDB).
The PDB has deals to buy electricity from the country's recently installed rental and quick rental power plants and supply fuel to them at a subsidised rate.
BPC Chairman Abu Bakar Siddique said he has received the demand notes about the furnace oil requirements recently and finalised a plan to import of the fuel. He said the cabinet recently approved six proposals for import of 1.650 tonnes petroleum fuels which were mainly diesel, kerosene, octane and jet fuel.
“There was no proposal for furnace oil import. But, now we'll move proposal for furnace oil import after completion of import negotiation with different suppliers,” he added.
Sources said after receiving the cabinet approval, the BPC is completing its necessary procedures to import a total of 1.650 million tonnes of different refined petroleum oils worth about $ 1.518 billion from different companies of six countries.
The fuel supplying companies include Kuwait Petroleum Corporation, Malaysian Petronas Trading Corporation, Singapore-based Petrochina International, the Philippines' PNOC Exploration Corporation, Egypt's Middle East Oil Refinery Limited (MIDOR), and the Emirates National Oil Company (ENOC).
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