Will Bangladesh allow the private sector to set up oil refineries?
Bangladesh will allow the private sector to set up oil refineries and sell the output both for domestic consumption as well as for exports, a move that would help ease the domestic supply situation in coming years, a senior energy ministry official told S&P Global Commodity Insights Dec. 12. Not registered?
Can private refineries sell their refined products to state-run Bangladesh Petroleum Corp?
Private refineries will have to sell at least 60% of their overall refined products output to state-run Bangladesh Petroleum Corp. during the initial three years of operations. They can sell the remaining 40% output through their own marketing networks during the initial three years after commissioning, according to the new policy.
How much oil does Bangladesh import a year?
Bangladesh currently imports around 1.5 million mt of crude oil annually to refine at its sole Eastern Refinery Ltd., a BPC subsidiary. BPC separately imports annually around 7.5 million mt of refined oil products and private power plant owners import around 3 million mt of HSFO.
How much processing capacity a crude oil refinery needs?
The Energy and Mineral Resources Division under the Ministry of Power, Energy has adopted the new policy and published a notification to this effect. Under the policy, the annual processing capacity of a crude oil refinery set up by the private sector must be at least 1.5 million mt/year.