Nazimuddin Shyamol
CHATTOGRAM, Apr 22: Eastern Refinery Limited (ERL), the country's only state-owned oil refinery, is facing a shortage of crude oil as existing stocks run low, prompting the Bangladesh Petroleum Corporation (BPC) to take urgent import measures.
Sources said a total of 400,000 tonnes of crude oil is expected to arrive at Chattogram port in May, which is likely to ease the supply strain triggered by disruptions linked to the Middle East conflict.
A tanker carrying 100,000 tonnes of crude oil from Saudi Arabia is scheduled to arrive at the port on May 6. The vessel, MT Ninemia, departed from Yanbu port on Tuesday morning (Bangladesh time) and reach Chattogram Port via the Red Sea.
Another shipment of 100,000 tonnes is set to leave the same Saudi port on May 6 and is expected to arrive on May 18. In addition, a third tanker carrying 100,000 tonnes of crude oil will depart from Fujairah port in the United Arab Emirates on May 20.
Besides, if a fourth vessel, MT Nording Palang, which is currently stranded in the Middle East with 100,000 tonnes of crude oil, is able to pass through the Strait of Hormuz, total imports could reach 400,000 tonnes by next month, significantly improving supply.
Bangladesh Shipping Corporation (BSC), which manages crude oil transport for BPC, has chartered the vessels for these imports, sources said.
BSC Managing Director Commodore Mahmudul Malek said the incoming shipments would ensure adequate supply for at least three months after May 6.
Meanwhile, diplomatic efforts are ongoing to bring back the stranded tanker.
ERL has been operating at reduced capacity since early April due to disruptions in crude imports, largely caused by the ongoing Middle East conflict. The closure of the Strait of Hormuz following the escalation of tensions on February 28 disrupted scheduled imports of around 300,000 tonnes in March and April.
Of them, one consignment of 100,000 tonnes of Arabian Light crude could not pass through the Strait due to security concerns and remains anchored at Ras Tanura port, while another shipment of Murban crude of the same volume has been declared under force majeure.
nazimuddinshyamol@gmail.com
