Bangladesh may prefer to import Russian oil via a third country to avert possible risks of the business, reports UNB.
According to official sources at the Ministry of Power, Energy and Mineral Resources, neighboring India might be such a preferred third country with regard to importing Russian oil.
"Currently, India has been importing Russian oil defying the US sanctions while Bangladesh has a long term contract with India to import refined oil from its refinery at Numaligarh in Assam state, '' said an official at the ministry preferring anonymity.
“If there is a bilateral arrangement between the two nations, such a business is very much possible,” he said, adding it could be a possible way to avert the risk in import of Russian oil at a cheaper rate.
The possibility of importing petroleum fuel from Russia came into discussion at the policymaking level following an offer from a Russian company to sell its refined petroleum, specially diesel, at a cheaper rate to Bangladesh.
Russneft, a Russian oil company headquartered in Moscow, recently offered the state-owned Bangladesh Petroleum Corporation (BPC) petroleum fuels at $59 per barrel against a global market price of over $100 per barrel.
As per the offer, the Russian company will reach its refined petroleum to Chattagram port at the rate which includes the premium and shipping cost as well.
However, the Ministry of Power, Energy and Mineral Resources has not yet officially disclosed anything about the Russian company’s offer.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid declined to give any detail of such an offer.
“No more update as yet,” he added.
Bd-pratidin English/Tanvir Raihan
