State-owned Bangladesh Petroleum Corporation said on Monday it will buy the country's entire annual requirement of petroleum products from the Kuwait Petroleum Corporation (KPC) under government to government deals from 2005.
"We have decided to buy all our requirements from Kuwait and stop floating international tenders for buying petroleum products from next year," R.M. Jahangir, general manager of Bangladesh Petroleum Corporation (BPC) told Reuters.
BPC is the country's sole importer and distributor of petroleum products and crude.
He said state-controlled KPC had already agreed to supply a yearly requirement of over 15 million barrels of refined petroleum products for 2005.
In addition to importing petroleum products, BPC also refines 11 million barrels of crude a year in the country's lone Eastern Refinery Limited in the port city of Chittagong.
Bangladesh imports Murban crude and Arab Light crude from Abu Dhabi and Saudi Arabia. It also imports crude from Kuwait and Iran under government to government deals.
Comments
Comments are closed.