The government has allowed the Bangladesh Petroleum Corporation (BPC) to procure 5.64 million tonnes of fuel oil next year as part of its move to ensure their smooth supply in the country.
The Cabinet committee on Economic Affairs gave approval to this on Wednesday.
Rahat Khan, additional secretary of the cabinet division, informed the media that the BPC will directly purchase 1.6 million tonnes of crude oil from Saudi ARAMCO of Saudi Arabia and ADNOC of Abu Dhabi in 2023.
Besides, the state-run entity will import 3.86 million tonnes of refined fuel oil on G-to-G basis through direct purchase method next year.
Official data shows the country needed 6.7 million tonnes of fuel oil last year. Local resources can provide for about 0.6 million tonnes while Eastern Refinery, the state-run refinery company, has a capacity of refining 1.5 million tonnes of crude oil in a year.
