Allowing private companies to directly import and market refined petroleum products could lead to revenue losses, artificial shortages, hoarding, price volatility, substandard fuel and risks to national energy security, said a BPC committee.

Citing the rapid depletion of its cash reserves, BPC said continued losses could affect its ability to open letters of credit (LCs) for future fuel imports, according to minutes of a BPC board meeting in July.

Slamming the govt move, party says proposed policy could replace BPC’s monopoly with one controlled by a handful of powerful business groups

Bangladesh Petroleum Corporation (BPC) may slip back into losses if fuel prices are not adjusted in the upcoming cycle, as global oil prices surge.

It seems that the government is creating a new threat of the quality and price of refined fuel oil being manipulated by permitting private companies to import and refine crude oil

Even though the government has approved a guideline, experts point out concerns in carrying flammable items in such manner

The deadline for the “Installation of Single Point Mooring (SPM) with Double Line” project will be extended for the fourth time with the cost to be raised by around Tk 1,000 crore, or 15 percent, according to the Planning Commission.

Eight officials of Standard Asiatic Oil (SAOCL), a subsidiary of the Bangladesh Petroleum Corporation, have embezzled Tk 21.64 crore by showing advance cost and fake bill vouchers, found investigations by the Directorate of Power and Energy Audit and BPC.

The prices of electricity, gas and diesel are set to increase one by one as the government pulls back the subsidies in keeping with the austerity measures.

The government has been deprived of Tk 472.7 crore for 21 counts of irregularities by Standard Asiatic Oil Company, a subsidiary of the Bangladesh Petroleum Corporation, found an audit.

The government has been deprived of about Tk 4,697 crore for 19 counts of irregularities by Petrobangla and Bangladesh Petroleum Corporation, found an audit.

There has been no external audit of the accounts of Bangladesh Petroleum Corporation over the last 10 years, the Parliamentary Standing Committee on Public Undertakings has found.

Bangladesh Petroleum Corporation (BPC) is considering buying discounted diesel and jet fuel from Russia as it seeks relief from the elevated prices in the global market.

Prime Minister Sheikh Hasina has given directives to the respective ministry to clarify once again the reason behind the fuel price hike.

Shahidul Islam landed a job in Standard Asiatic Oil Company Limited (SAOCL), a partner company of state-run Bangladesh Petroleum Corporation (BPC), as a senior officer (maintenance) in 2015.

Bangladesh Petroleum Corporation has put forward a proposal to the energy ministry to introduce an automated pricing formula to adjust petroleum prices against international prices on a monthly basis.

For around 15 years, Bangladesh had to struggle with import of oil because the price continued to climb from just $25 in1998 a barrel to $145 in 2008. The country's oil importing agency Bangladesh Petroleum Corporation (BPC) counted staggering losses from 1999 till mid 2014.

Bangladesh Petroleum Corporation this year is expected to log in twice the profit it counted in fiscal 2014-15 on the back of the low oil price on the international market. The benefits of this low price, however, are yet to trickle down to the consumers.