The government yesterday approved the direct purchase of 1.75 lakh tonnes of diesel and octane from two suppliers, bypassing the standard tender process as concerns deepen over Gulf supply disruptions caused by the US-Israeli war on Iran.

The cabinet committee on public purchase today approved a Bangladesh Petroleum Corporation (BPC) proposal to import 20.4 lakh tonnes of refined fuel oil in the first half of 2023.

The Cabinet Committee on Economic Affairs yesterday granted Bangladesh Petroleum Corporation permission to import 54 lakh tonnes of oil next year in a bid to secure supply of the key commodity amid the Russian invasion of Ukraine and geopolitical tension.

The government is negotiating with Qatar seeking long-term contracts for the import of liquefied natural gas (LNG) as prices have abnormally climbed in international spot markets, said Salman F Rahman, the prime minister’s private industry and investment adviser, yesterday.