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BPC in tender to buy 160,000 tonnes of fuel oil

High-sulphur 180-cSt fuel oil is to be delivered between August and December.





Updated on 19 Jul 2016 11:39 GMT

Bangladesh Petroleum Corp (BPC) has issued a tender to buy 160,000 tonnes of 180-centistoke (cSt) high-sulphur fuel oil, according to tender documents.

The fuel oil is to be delivered between August and December. The tender closes on July 20th and is valid until October 2nd.

Earlier this year, in February, state-owned BPC issued its first tender to buy oil products in 15 years when it entered the market to buy 11 million barrels of diesel and jet fuel. As a result, the company is said to have purchased the products at lower rates than its term deals.

The fuel oil tender is understood to be the first since BPC started buying oil products via term deals with oil companies towards the end of 2010.

BPC intends to use the fuel oil for power generation. A shortfall in the availability of natural gas has forced the country to use oil, a more costly option.

According to a company official, BPC imported 140,000 tonnes of fuel oil during the first six months of this year. Two 20,000-tonne cargoes are also being imported this month.

BPC does not intend to import further fuel oil through term deals during the rest of 2016, the official added.

BPC's 33,000-barrel-per-day refinery in Chittagong is operated by its subsidiary Eastern Refinery Ltd. It meets around 40 percent of the country's demand for petroleum products, producing a range of products that includes high-sulphur fuel oil, low-sulphur furnace oil, bitumen, low-sulphur diesel oil, high-speed diesel and A-1 aviation fuel.

In order to meet all its fuel oil demand, Bangladesh buys from a number of national oil companies, including Malaysia's Petronas and Vietnam's Petrolimex.






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