The decrease in fuel oil prices on the world market has led to Bangladesh Petroleum Corporation (BPC), a state-owned entity responsible for fuel oil import and marketing, returning to profitability. Based on the latest information, the Ministry of Finance projects that BPC will achieve a net profit of around Tk 4,000 crore by the end of the current fiscal year 2023-24. This stands in contrast to earlier projections during the budget formulation, which estimated a potential loss of over Tk 10,000 crore for BPC in the same period.
The revised budget for state-owned enterprises for the current fiscal year indicates that BPC’s total sales volume is expected to reach 77,70,955 tons, valued at Tk 84,253.91 crore. This reflects an increase in both sales volume and value compared to the previous fiscal year. Despite a rise in crude oil prices to $103.48 per barrel from $96.65 in the last fiscal year, BPC’s operating costs for the current fiscal year are estimated at Tk 79,619.69 crore, lower than the initial projection of Tk 1,12,079.10 crore. Consequently, BPC is expected to achieve an operating surplus of Tk 4,634.22 crore in the fiscal year 2023-24.
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