Sunday, January 04, 2009

PETRONAS Set to be Major Supplier of Fuel Oils to Bangladesh

Bangladesh will buy 15 lakh metric tonnes of refined fuel from Malaysian giant Petronas Trading Corporation, finance and planning adviser AB Mirza Azizul Islam said Sunday.

A meeting of the advisory council committee on government purchases with the adviser in the chair took the decision at the planning ministry Sunday.

Emerging from the meeting Aziz also told reporters that the meeting approved a proposal to import one lakh metric tonne of wheat through international tenders.

"An amount of 15 lakh MT of refined fuel at a very low premium will be imported from Petco, including 12 lakh MT diesel, 1.5 lakh MT kerosene and 1.5 lakh MT jet fuel," the finance adviser said.

"We'll buy 12 MT diesel at a premium of $ 5.98 and the rest at $ 6.06 only."

The total premium would stand at Tk 897 crore, Aziz said.

"Though the existing food reserve is satisfactory, but we'd still buy one lakh tonne of wheat to avoid risks," the adviser said mentioning it would cost $174 per metric tonne.

"One lakh MT of wheat will cost nearly Tk 128.23 crore."

The yearly domestic demand for petroleum products is 35-40 lakh metric tonnes. The 2007-8 fiscal year witnessed consumption of over 36 tonnes of which diesel amounted to 23 lakh MT.

The demand for FY 2008-9 is estimated at nearly 38 lakh tonnes, according to the energy ministry statistics.

Govt to buy 15 lakh MT fuel from Malaysia
Bangladesh New

Malaysia Set to be Major Supplier of Fuel Oils to Bangladesh
Energy Bangla, Bangladesh