Bangladesh tenders for up to 1.52mln oil products

DHAKA:  Bangladesh Petroleum Corp (BPC) issued an international tender on Monday to import up to 1.52 million tonnes of refined oil products in the second half of 2018, officials said.

The state-owned company is seeking 1.1 million tonnes to 1.28 million tonnes of 500ppm sulphur gasoil, 100,000 tonnes of jet fuel and 120,000 to 140,000 tonnes of 180-cst high sulphur fuel oil.

The tender closes on April 11 and is valid for 75 days to June 24, 2018.BPC resumed issuing tenders for long-term contracts in February 2016 after a 15-year hiatus, during which it negotiated directly with suppliers of fuel products.

It wants to move away from direct deals as part of efforts to buy at cheaper rates through international tenders.

A shortfall in supplies of natural gas has forced the South Asian country to burn oil, a costlier option, to generate electricity.

Bangladesh typically imports around 3.2 million tonnes of diesel and 2.5 million tonnes of fuel oil annually, making it one of the top 10 such importers in the region.

Currently, BPC has term contracts with 10 companies for refined oil product imports.