• Thursday, July 2, 2020

Bangladesh signs gasoil import deal with India

Discussion in 'Central & South Asia' started by Abhijeet Sarkar, Oct 23, 2017.

  1. Abhijeet Sarkar

    Abhijeet Sarkar SENIOR MEMBER

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    BPC will take up to 250,000 tonnes of gasoil each year from NRL for the first three years of the deal to the BPC’s northern fuel depot via a 131km pipeline

    Bangladesh on Sunday signed a long-term sales and purchase agreement with an Indian refiner to import gasoil to meet the country’s energy demand, officials said.

    The deal between Bangladesh Petroleum Corp (BPC) and Numaligarh Refinery Limited (NRL) was signed in presence of India’s External Affairs Minister Sushma Swaraj, who arrived in Dhaka on Sunday on a two-day visit to discuss bilateral issues.

    Her visit comes as Bangladesh is struggling to cope with an influx of almost 600,000 Rohingya Muslim refugees from Myanmar since August 25 when the UN says the Myanmar army began a campaign of “ethnic cleansing” following insurgent attacks.

    The deal with NRL, which is majority owned by refiner Bharat Petroleum Corp Ltd (BPCL), is the country’s first long-term agreement with any Indian supplier.

    Under the deal, BPC will take up to 250,000 tonnes of gasoil each year from NRL for the first three years of the deal to the BPC’s northern fuel depot via a 131km pipeline, which will be built by India.

    The import volume will be increased in line with demand, a senior BPC official said, adding the deal would come into effect when the pipeline is built.

    BPC will pay a premium of $5.50 per barrel over Middle East quotes under the 15-year deal, up from the current premiums of $2.20 a barrel for gasoil cargoes it receives by tanker through the country’s southeastern port of Chittagong, the official said.

    “The premium is cost-effective as there is no added cost as the supply will be delivered to the deport in the northern part,” the BPC official said.

    NRL already supplies a small volume to state-owned BPC for the country’s northern region.

    The refinery, located in the eastern Indian state of Assam, will supply around 22,000 tonnes of gasoil with a sulphur content of 500 parts per million (ppm) between October and December by railroad, BPC officials said.

    BPC received its first batch this month under the three-month agreement.

    Bangladesh typically ships in around 3.2 million tonnes of diesel and 2.5 million tonnes of fuel oil annually.

    Sellers include Kuwait Petroleum Corp, Malaysia’s Petroliam Nasional Berhad, Emirates National Oil Company, Philippines National Oil Co, Vietnam’s Petrolimex, Thailand’s PTT, Indonesia’s Bumi Siak Pusako and Zhenhua Oil.


    http://www.dhakatribune.com/banglad...23/bangladesh-signs-gasoil-import-deal-india/
     
  2. xyxmt

    xyxmt BANNED

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    First Electricity and now Gas and oil, when are they plan on signing an agreement to supply cooked food.
     
  3. Kambojaric

    Kambojaric MODERATOR

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    Not good. India/Modi govt has made it clear where it stands with regards to supporting the interests of Bangladesh. Instead of standing up and showing its disgust with regards to India's behavior in the ongoing Rohingya situation, Hasina is pushing her country into long-term contracts with India. When will Bangladeshis say enough is enough?
     
  4. Acknowledge

    Acknowledge FULL MEMBER

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    We are infact more sensitive to Bangladeshi concerns than China is.
    It is a testament to our friendship with Bangladeshis that we are so, otherwise like China(and Pakistan) we would be supplying planes to Myanmar to bomb the Rohingyas.

    In any case, unlike Pakistan, the rest of South Asia is getting more and more connected with trade. The rest of us donot share Pakistan's penchant for violence in the region.
     
  5. Chinese-Dragon

    Chinese-Dragon RETIRED TTA

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    Tributary payments to Modi.
     
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  6. pothead

    pothead BANNED

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    The fact that they would prefer to be slaves to China than be friends with India shows how far their brains have been damaged.
     
  7. Nilgiri

    Nilgiri ELITE MEMBER

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    Dare ya to post that in BD subforum in the topic there :D
     
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  8. takeitwithyou

    takeitwithyou BANNED

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    Instead of predatory payments to Xi
     
  9. Acknowledge

    Acknowledge FULL MEMBER

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    I am particularly loving the open hypocricy of Pakistanis. They claim they love Rohingyas and want BD to be against India all the while they sell weapons to Myanmar Military.

    Inspiring and nauseating at the same time.