Dhaka,  Sunday
14 August 2022

Country has adequate stocks of petroleum fuel: Energy Division

Staff Reporter

Published: 22:01, 27 July 2022

Country has adequate stocks of petroleum fuel: Energy Division

The Energy and Mineral Resources Division has said that the country has adequate stocks of petroleum fuel. In a clarification on Wednesday, it said the country has stocks of 431,835 metric tons of diesel for 32 days' consumption while Jet-A1 fuel for 44 days' consumption and furnace oil for 32 days' consumption.

Requesting the people not to be misguided, it also said that a vested interest group is spreading false and fabricated information about fuel oil reserves, which is misleading the common people. The entire petrol is locally produced while 40 percent of octane is also produced by the country, it added.

The process of importing 6 months' petroleum fuel is in pipeline. "We strongly say that companies under the Bangladesh Petroleum Corporation have sufficient fuel oil reserves. At present there is no shortage or crisis of petroleum fuel in the country. There is no fear of crisis," it said.

In July 2022, the country has so far received some 255,000 metric tons of diesel from 9 vessels, about 43,000 metric tons of Jet-A-1 from 2 vessels, 24,677 metric tons of octane from one vessel and 53,358 metric tons of furnace oil from 2 vessels.

In August 2022, some 218,000 metric tons of diesel will arrive in 8 ships while 25,000 metric tons of Jet-A-1 in one ship and 25,000 metric tons of octane through one ship. According to the import plan, these bulk fuels will arrive in Bangladesh in next 6 (six) months. Of these, 50 percent will be procured through G-to-G contract and the remaining 50 percent through open tender. There is no risk of shortage.

The Energy and Mineral Resources Division requested all to be cautious and economical in the use of fuel which is being supplied in subsidised rates.