Arab Today, arab today dhaka agrees to fuel deals at higher costs
Last Updated : GMT 08:04:07
Arab Today, arab today
Arab Today, arab today

Dhaka agrees to fuel deals at higher costs

Arab Today, arab today

Arab Today, arab today Dhaka agrees to fuel deals at higher costs

Dhaka - Arabstoday

Bangladesh Petroleum Corporation (BPC) has concluded 2012 term negotiations with six suppliers for diesel and jet fuel at stronger premiums than its current contracts, a senior BPC official said yesterday. The BPC finalised its diesel term contract for the first half of 2012 at a premium of $3.50 a barrel to Middle East quotes, up from the $3.30 a barrel premium for its July to December term cargoes this year. The term contract for jet fuel has been fixed at a premium of $4.50 a barrel, up from $4.30 a barrel. Kuwait Petroleum Corporation (KPC) will supply around 1.02 million tonnes of diesel in 2012 and 210,000 tonnes of jet fuel. Malaysia\'s Petronas will supply 650,000 tonnes of diesel and 180,000 tonnes of jet fuel. Another 700,000 tonnes of diesel will be sourced from Egypt\'s Middle East Oil Refinery and 300,000 tonnes of diesel from Emirates National Oil Company (Enoc). Philippines National Oil Company (Pnoc) will supply 400,000 tonnes of diesel and 64,000 tonnes of 95-octane gasoline and PetroChina will supply 200,000 tonnes of diesel and 32,000 tonnes of 95-octane gasoline in the next year. For 95-octane gasoline the BPC will pay a premium of $7.20 a barrel, up from $7.05 per cent now. Imports to double Bangladesh\'s fuel oil imports are likely to more than double next year to around 1.65 million tonnes, while overseas purchases of diesel may rise about 25 per cent to 3.74 million tonnes on growing domestic demand, a senior BPC official told Reuters last month. Besides diesel and fuel oil, Bangladesh will import 385,000 tonnes of jet fuel, 100,000 tonnes of 95-octane gasoline and 90,000 tonnes of kerosene in 2012, the official said. Pnoc will also supply around 40,000 tonnes of jet fuel and 30,000 tonnes kerosene while Petronas 60,000 tonnes of kerosene to Bangladesh. The BPC failed to reach agreement on fuel oil, however, as suppliers were asking much higher premiums, the official said. \"We are getting offers ranging from $42.00 to $51.00 for fuel oil,\" he said. BPC paid a premium of $32 a tonne to Singapore spot quotes for 180-centistoke (cst) fuel oil in July-December. Domestic demand for fuel oil has been swelling as a shortfall of natural gas supply forced the country to turn to costly oil-fired quick rental power plants. The chronic electricity shortage has limited economic growth and investments in Bangladesh and often stirs public fury. BPC will buy 700,000 tonnes of Murban crude from Abu Dhabi National oil Co and another 700,000 tonnes of Arab Light crude from Saudi Aramco in the next year for its lone refinery.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dhaka agrees to fuel deals at higher costs Arab Today, arab today dhaka agrees to fuel deals at higher costs

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts

GMT 05:23 2017 Tuesday ,21 February

Oil rises, but growing US output threatens rally

GMT 00:24 2017 Tuesday ,21 February

OPEC daily basket price announced for Thursday

GMT 16:12 2017 Sunday ,19 February

Oil prices still under pressure from North America
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday