Bangladesh's Jul-Sep oil imports fall 15% on year to 1 mil mt
Dhaka (Platts)--15Nov2012/339 am EST/839 GMT
Bangladesh Petroleum Corporation imported around 1.0 million mt of crude
and refined oil products over July-September, down 15% from 1.15 million mt a
year ago, a senior BPC official said Thursday.
The import volumes were lower as the country was in cost-cutting mode
shutting some of the oil-fired power plants due to rising international oil
prices, the BPC official said.
Bangladesh's oil import bill over July-September, the first quarter of
the fiscal year 2012-13 (July-June), fell 7.49% to $1.106 billion from $1.195
billion a year ago, a central bank official said.
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BPC had earlier sought a government subsidy of Taka 28.74 billion
($350.43 million) to import oil during the period, but the government
allocated only Taka 15 billion, down 56.82% from Taka 34.74 billion it
provided to BPC in the year-ago period, the BPC official said.
Meanwhile, BPC plans to import 5.9 million mt of crude oil and refined
products in the fiscal year 2012-13, up 11.3% from 5.3 million mt a year ago,
the BPC official said.
BPC currently has term deals until December 2012 to import refined oil
products from Kuwait Petroleum Corp.; Petco, the trading arm of Malaysia's
state-owned Petronas; the Philippine National Oil Company; Emirates National
Oil Company; Egypt's Middle East Oil Refinery; the Maldives National Oil
Company; state-owned PetroChina and Indonesia's Bumi Siak Pusako, the BPC
It also has deals to import crude oil from Saudi Aramco and the Abu
Dhabi National Oil Company, he added.
--Mohammad Azizur Rahman, firstname.lastname@example.org
--Edited by Elston Soares, email@example.com