Shifting Trends in Energy Imports

Industry: Coal, Energy & Power, Oil & Petroleum
Economic Tag: Govt.

Bangladesh’s energy sector, relying heavily on imports, faces shifting dynamics. Furnace oil imports dropped 27% in FY 2022-23 while diesel imports surged 32%. The decline in furnace oil imports can be attributed to energy plant transitions to natural gas and plant closures due to financial constraints. Notably, Chittagong Custom House revenue suffered a Tk 1,544 crore loss due to the furnace oil imports decline. Meanwhile, crude oil imports decreased by 4%, while lubricating oil imports fell by 12%. On the other hand, coal imports showed remarkable growth, rising 45% YoY in FY 2022-23. Diesel and furnace oil remain top contributors to revenue within the energy sector, showcasing varying import trends.

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