Process underway to import fuel for next 6 months: Energy ministry

Power, Energy and Mineral Resources Ministry has said it has taken initiatives to import fuel oil to meet the demand for the next six months.

A vested quarter is spreading false and fabricated information about oil reserves which is misleading the public, said the ministry in a press release issued Wednesday (27 July). 

The ministry also said there are sufficient fuel reserves in the depots of the companies under Bangladesh Petroleum Corporation refuting the rumours about the crisis.

At present, there is no shortage of fuel oil in the country, it reassured in the issued statement. 

Currently, there is a stock of 431,835  tons of diesel which will meet domestic demand for 32 days, as 13,607  tons of diesel are sold every day.

There is a stock of Jet-A-1 fuel for 44 days and a stock of furnace oil for 32 days, according to the ministry data.

"That means we have sufficient fuel oil reserves according to our reserve capacity", said the release.

The country produces all the petrol it needs and produces 40% of its octane demand.

About 255,000 tons of diesel have already been unloaded from nine ships this month alongside 43,000  tons of Jet-A-1 fuel from two ships vessels, 24,677 tons of octane from one ship and 53,358 tons of furnace oil from two ships.

In August, 218,000  tons of diesel will arrive on eight ships, 25,000 tons of Jet-A-1 on one ship, and 25,000  tons of octane on one ship.

Fuel oil will continue to arrive in Bangladesh for the next six months according to the import plan. 

Of this, 50% has been procured through government-to-government contracts and the remaining 50% through open tenders. There is no risk of shortage, assures the energy ministry.

However, the Department of Energy and Mineral Resources is requesting all to be frugal in the use of fuel oil supplied at subsidised prices.