Bangladesh to import 3.8 million MTs refined petroleum for 2024

Bangladesh will import a total of about 3.8 million metric tons (MTs) of different types of refined petroleum from January to December in 2024.

In a meeting Cabinet Committee on Economic Affairs (CCEA) with Finance Minister AHM Mustafa Kamal in the chair, in principle approved a proposal of the Bangladesh Petroleum Corporation (BPC) in this regard, said a press release.

Refined petroleum products are derived from crude oils through processes such as catalytic cracking and fractional distillation.

Energy and Mineral Resources Division of the Ministry of Power, Energy and Mineral Resources placed the proposal on behalf of the BPC.

As per the proposal, the bulk refined petroleum will be imported on G-G basis from different countries.

Of the total refined petroleum, diesel (gas oil) is 2.34 million (23.40 lakh) MTs while Jet-A1 fuel 3.75 lakh MTs, octane (Mogas) 2.75 lakh MTs, furnace oil 7.50 lakh MTs and marine fuel 60,000 MTs.

However, it was not disclosed which quantity of petroleum will be imported from which countries.

Earlier, on October 25 the same CCEA approved a proposal to import 1.5 million tons of crude oil from Saudi Arabia and United Arab Emirates (UAE) for the year 2024.

The proposal had mentioned that Saudi Aramco and UAE-based Adnoc will supply the total crude petroleum.

Bangladesh needs to import about 6.5 million tons of petroleum oil annually. Of this, about 1.5 million is crude and the remaining amount is refined petroleum.