Bangladesh to import refined petroleum from Malaysia

The Bangladeshi government approved a proposal for import of some 1.5 million tons of refined petroleum from Malaysia. Under the proposal of the country’s Energy Ministry, the state-owned Bangladesh Petroleum Corporation (BPC) will make the bulk import of petroleum from Petco, a sister company of the Malaysian state-owned Petronas Corporation. Of the total fuels, 1.2 million tons are diesel, 150,000 tons are jet fuel and another 150,000 tons are kerosene, costing a total of 48.97 billion taka (US$721.21 million). The premium was fixed at US$5.98 for a barrel of diesel and US$6.60 for each barrel of jet fuel and kerosene. (December 28, 2008)