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Bangladesh to buy refined fuel oil from UAE

By Agencies


Bangladesh will import 390,000 tonnes of refined fuel oil from the United Arab Emirates at an international market price plus premium in a state-to-state deal, officials said.

A committee, headed by the government's adviser for finance, approved the import of 330,000 tonnes of diesel and 20,000 tonnes each of kerosene, jet fuel and octane from the Emirates General Petroleum Corporation, owned by the UAE.

The premium -- which is $5.20 per tonne for diesel, $5.60 for kerosene and jet fuel, and $7.50 for octane -- will save $437,000 from state coffers, said finance adviser Mirza Azizul Islam.

The premium is lower than those of the state-run oil companies of Kuwait, India and Egypt, from which state-owned Bangladesh Petroleum Corporation imports its refined petroleum products. (Reuters)