BPC negotiates 1.15m tonnes of fuel import with KPC

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Jasim Uddin Haroon
The Bangladesh Petroleum Corporation (BPC) negotiated the cost of premium with its Kuwaiti counterpart against import of 1.15 million tonnes of fuel which the state-owned organisation claimed would save the government at least Tk 250 million.
The fuel will be supplied during January-June period next year, BPC officials said.
They said the successful negotiation with the Kuwait Petroleum Corporation (KPC) will ensure uninterrupted supply of the same during the period.
The negotiation took place in Kuwait city on November 24 and 25.
The BPC chairman along with two directors and high officials from the Kuwait Petroleum Corporation (KPC) were present during the negotiations for the fresh deal.
Of the total quantity, 0.90 million tonnes will be diesel, 1.2 million jet fuel, 0.8 million kerosene and 0.50 million tonnes octane.
The cost of premium for diesel has been cut by 0.05 cents to stand at $ 5.35 each barrel against its level of $ 5.40.
The cost of premium of jet fuel and kerosene, however, remained unchanged at $ 5.65 each barrel.
But it rose by 0.15 cents for octane to $ 7.70 from $ 7.55 each barrel.
While talking to the FE, director operation Syed Mozammel Hoque said that the BPC was in a better position at the negotiating table and so was able to save Tk 250 million.
"Although the cost of premium for jet fuel rose to some extent, but we emerged successful in lowering that of diesel," the director operations added.
BPC imports around 3.8 million tonnes of fuel annually while Kuwait is the major source of supply apart from Saudi Arabia, the United Arab Emirates and India.