Bangladesh Petroleum Corporation has paid all its dues to foreign suppliers in just two months with the help of seven private banks.
With the new pricing formula in place, there is no way that BPC can lose money.
Eight officials of Standard Asiatic Oil (SAOCL), a subsidiary of the Bangladesh Petroleum Corporation, have embezzled Tk 21.64 crore by showing advance cost and fake bill vouchers, found investigations by the Directorate of Power and Energy Audit and BPC.
The government has been deprived of Tk 472.7 crore for 21 counts of irregularities by Standard Asiatic Oil Company, a subsidiary of the Bangladesh Petroleum Corporation, found an audit.
Partex Petro Ltd, an oil refinery, has started production and marketing of aviation fuel, becoming the first company in Bangladesh to manufacture the finished product for the growing air transport market.
There has been no external audit of the accounts of Bangladesh Petroleum Corporation over the last 10 years, the Parliamentary Standing Committee on Public Undertakings has found.
Bangladesh Petroleum Corporation (BPC) is considering buying discounted diesel and jet fuel from Russia as it seeks relief from the elevated prices in the global market.
Prime Minister Sheikh Hasina has given directives to the respective ministry to clarify once again the reason behind the fuel price hike.
The government has increased prices of fuel, effective as of today (August 6, 2022).
Bangladesh Petroleum Corporation (BPC) is considering buying discounted diesel and jet fuel from Russia as it seeks relief from the elevated prices in the global market.
Prime Minister Sheikh Hasina has given directives to the respective ministry to clarify once again the reason behind the fuel price hike.
The government has increased prices of fuel, effective as of today (August 6, 2022).
State Minister for Power, Energy and Mineral Resources, Nasrul Hamid has called upon the public to not pay heed to any rumours regarding shortage in fuel stock in the country.
Uncertainty looms over the country’s fuel stock as the Bangladesh Petroleum Corporation is finding it difficult to import fuel amid a dollar shortage at local banks.
Shahidul Islam landed a job in Standard Asiatic Oil Company Limited (SAOCL), a partner company of state-run Bangladesh Petroleum Corporation (BPC), as a senior officer (maintenance) in 2015.
Bangladesh Petroleum Corporation has put forward a proposal to the energy ministry to introduce an automated pricing formula to adjust petroleum prices against international prices on a monthly basis.
And it makes even less sense to now charge the same taxpayers' higher prices so that the BPC can deposit the subsidy amount to the government. What good is it to have citizens pay double and have the money sitting around in the government's coffers?
State-owned Bangladesh Petroleum Exploration and Production Company Limited (Bapex) begins extraction of natural gas from Sundalpur gas field in Noakhali.
Bangladesh Petroleum Corporation (BPC) and Indian Oil Corporation Ltd (IOCL) to sign a memorandum of understanding (MoU) on cooperation of downstream oil and gas sector opportunities tomorrow.
