In a strategic move to bolster the country’s energy and economic security, the government of Bangladesh has undertaken an initiative to procure approximately 12.75 lakh metric tons of refined petroleum products, valued at around 10,000 crore Taka, for the second half of the year, from July to December.
As part of this effort, officials from the Ministry of Energy and Bangladesh Petroleum Corporation (BPC) have departed for Malaysia to finalize negotiations with international suppliers, ensuring the procurement at the lowest possible rates in the global market.
Sources revealed that a team, including senior officials such as the Secretary of the Energy Ministry, Mohammad Saiful Islam, and BPC Chairman, Md. Amin Ul Ahsan, has gone to Malaysia to directly negotiate with some of the nine key sources from which Bangladesh typically purchases its fuel.
The negotiations aim to secure about 12.75 lakh metric tons of refined petroleum, including approximately 8 lakh metric tons of diesel, 1.8 lakh metric tons of jet fuel, 1 lakh metric tons of furnace oil, and around 1 lakh metric tons of petrol and octane. The focus remains on obtaining the lowest premiums with flexible terms to ensure cost-effectiveness and supply security.
A senior official from BPC’s Commercial and Operations Department confirmed that the negotiations prioritize securing the lowest premiums and maintaining contractual flexibility. The procurement is scheduled to cover the country’s fuel needs from July to December, during which the total demand for petroleum products is estimated to be around 70 to 75 lakh metric tons.
This proactive initiative underscores Bangladesh’s efforts to strengthen its energy security and ensure a stable supply of essential petroleum products amid fluctuating global oil markets.
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