Bangladesh Petroleum Corporation (BPC) plans to import up to 1.585 million tonnes of refined petroleum products through tender during the July-December period (H2) of 2023, which is approximately 4.0% lower than the imports in H2 2022. The oil import during July-December 2022 was 34% higher than that of H2 2021. BPC owes around US$300 million to refined oil suppliers until May 2023. The corporation aims to import 1,200,000 tonnes of sulfur gasoil, 150,000 tonnes of A-1 jet fuel, 125,000 tonnes of 180 CST high-sulfur fuel oil, 80,000 tonnes of 95 RON gasoline, and 30,000 tonnes of sulfur marine fuel.
Additionally, Bangladesh’s private sector plans to import around 3.50 million tonnes of 180 CST high-sulfur fuel oil during H2 2023, contingent on receiving overdue payments from the government, which currently amount to Tk 180 billion. BPC typically imports half of its required refined oil products through tenders and negotiates the remaining half with suppliers. The country’s foreign currency reserve stands at around $30 billion, down from a record $48.6 billion in August 2021.
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