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Saudi firm offers to build refinery in Bangladesh
Mon, Nov 21st, 2011 3:26 pm BdST
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DHAKA, Nov 21 (bdnews24.com/Reuters) - Saudi Aramco has proposed building an oil refinery in Bangladesh at an estimated cost of $2.5 billion, a senior energy official has said.
He said on Monday that the proposal was made when a Saudi Aramco delegation visited Dhaka last week and met officials at the ministry of power and energy.
"The ministry will examine the proposal and take a decision as soon as possible," the official told Reuters, requesting anonymity.
Saudi Aramco is a leading Saudi Arabian oil firm which produces, manufactures, markets and ships crude oil, natural gas and petroleum products to buyers around the world.
It supplies crude oil to Bangladesh regularly, the official said.
If a deal is finalised, Saudi Aramco will build the second oil refinery in Bangladesh. It will have an annual capacity to refine up to 8 million tonnes of crude.
Bangladesh's state-run Eastern Refinery Limited in Chittagong port city has a capacity to refine 1.4 million tonnes of crude a year.
Bangladesh will double its oil imports to nearly 6.5 million tones in the fiscal year ending June 2012 to run oil-fired power generating plants and meet increased demand by manufacturing firms.
Bangladesh's demand for fuel oil increases annually by more than 6 percent a year, officials said.
bdnews24.com/rn/1520h
Mon, Nov 21st, 2011 3:26 pm BdST
Dial 2000 from your GP mobile for latest news
DHAKA, Nov 21 (bdnews24.com/Reuters) - Saudi Aramco has proposed building an oil refinery in Bangladesh at an estimated cost of $2.5 billion, a senior energy official has said.
He said on Monday that the proposal was made when a Saudi Aramco delegation visited Dhaka last week and met officials at the ministry of power and energy.
"The ministry will examine the proposal and take a decision as soon as possible," the official told Reuters, requesting anonymity.
Saudi Aramco is a leading Saudi Arabian oil firm which produces, manufactures, markets and ships crude oil, natural gas and petroleum products to buyers around the world.
It supplies crude oil to Bangladesh regularly, the official said.
If a deal is finalised, Saudi Aramco will build the second oil refinery in Bangladesh. It will have an annual capacity to refine up to 8 million tonnes of crude.
Bangladesh's state-run Eastern Refinery Limited in Chittagong port city has a capacity to refine 1.4 million tonnes of crude a year.
Bangladesh will double its oil imports to nearly 6.5 million tones in the fiscal year ending June 2012 to run oil-fired power generating plants and meet increased demand by manufacturing firms.
Bangladesh's demand for fuel oil increases annually by more than 6 percent a year, officials said.
bdnews24.com/rn/1520h

Talk about overzealous media!