In response to the ongoing global energy crisis, the Cabinet Committee on Economic Affairs has granted principled approval for the emergency import of 300,000 tons of diesel to maintain the country’s power and transport sectors.
The decision was reached during a meeting held Wednesday (April 8) at the National Parliament House, chaired by Finance and Planning Minister Amir Khasru Mahmud Chowdhury.
Direct Procurement Strategy
According to the proposal by the Energy and Mineral Resources Division, the fuel will be sourced from three international companies, with each supplying 100,000 tons:
While the Bangladesh Petroleum Corporation (BPC) typically imports fuel through open international tenders, this procurement will follow a direct purchase method. Government sources stated that this deviation is legally permitted under special provisions of the Public Procurement Act 2006 and Public Procurement Rules 2008 to address state emergencies.
Currently, BPC usually procures 50% of its requirements through Government-to-Government (G2G) deals and the remaining 50% via open tenders.
However, the government has opted for this expedited route to ensure immediate supply, with the imported oil slated for processing at Eastern Refinery PLC.
Context: Middle East Instability
The urgency behind this decision stems from escalating geopolitical tensions in the Middle East.
Following a joint military operation by the US and Israel on February 28, restrictions were imposed on vessel movements through the Strait of Hormuz, a critical global chokepoint.
This disruption has severely impacted global supply chains, leading to a surge in oil prices, volatile shipping costs, and limited supply from exporting nations.
By securing these 300,000 tons, the government aims to stabilize domestic reserves and preempt a potential fuel shortage.
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