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Committee to evaluate tender in 15 days for fuel oil import

For importing petroleum products on behalf of the state owned Bangladesh Petroleum Corporation (BPC), an evaluation committee will submit a report within 15 working days, sources with the BPC said.

The seven member evaluation committee headed by a Director of BPC was formed to evaluate tender documents of importing petroleum. The tender documents have been opened on Monday after 16 companies purchased tender schedule by February 18.

“Out of 16 international organisations, 12 have been qualified including UAE based Emirates National Oil Company (sin.) pte. Ltd (ENOC), China based Petrochina (Singapore) pte. Ltd, Unipec Singapore pte. Ltd, Malaysian PETRONAS, US based ExxonMobil. The lowest bidder will be selected form this organisation to import petroleum,” BPC Director (OPS & PLNG) Mosleh Uddin and convener of evaluation committee told energynewsbd.com.

On February 11, an international tender was floated for the import, doing away with the government-to-government (G2G) negotiations, to make profits in the context of a slumping global oil market.

BPC Chairman AM Badrudduja told energynewsbd.com that the cost of import would either be covered from BPC’s fund or sourced from the state coffer.

BPC will procure of 9.875 million barrels [1.32 million tonnes] of import refined diesel [GASOIL] and 1.440 million barrels [180,000 tonne] of Jet A-1

The government believes that importing oil through international tenders will lower the premium rate, the BPC chief said.

State-owned BPC incurred huge losses after introducing the G2G system in 2003-04.

Until 2003, the BPC imported petroleum products through tenders and negotiated premium rates – transportation, insurance and other costs – every six months. Recently, it has imported refined diesel with a premium of $4.50 per barrel.

G2G negotiations came into effect in 2005. Under the agreement, BPC closed minimum two-year deals with oil companies. Before that, its losses were lower under the competitive market tender policy.

 

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