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).
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.
For around 15 years, Bangladesh had to struggle with import of oil because the price continued to climb from just $25 in1998 a barrel to $145 in 2008. The country's oil importing agency Bangladesh Petroleum Corporation (BPC) counted staggering losses from 1999 till mid 2014.
Bangladesh Petroleum Corporation this year is expected to log in twice the profit it counted in fiscal 2014-15 on the back of the low oil price on the international market. The benefits of this low price, however, are yet to trickle down to the consumers.
Cabinet gives its final approval to the draft of Bangladesh Petroleum Corporation Act 2015 doubling the jail term and fine for defaulters.
Bangladesh Petroleum Corporation will pay Tk 30 for buying per litre of oil spilled from three wagons of a train that plunged into a canal in Boalkhali upazila in Chittagong.