Amid ongoing instability in the Middle East, concerns have grown in Bangladesh over the country’s fuel supply and reserve situation, with rationed oil distribution leading to long queues at petrol pumps and frustration among customers.
Many commuters have started travelling to offices and courts by public transport after failing to obtain fuel, while allegations have surfaced that some people are purchasing extra oil and storing it. The chaotic situation is widely being attributed to the Middle East crisis, with many fearing it could lead to a fuel shortage in the coming days. However, officials of the Bangladesh Petroleum Corporation (BPC) say the actual situation is different and that adequate fuel stocks remain available.
There is also confusion among the public about how long the current reserves will last. An analysis of BPC stock data shows that, as of March 8, existing fuel reserves could last between 13 and 71 days depending on the type. A week earlier, the reserves were estimated to last about 21 days.
A BPC official said the country currently has sufficient fuel stocks and imports have been ensured according to demand until next month.
A vessel carrying fuel arrived at Chittagong Port on Monday morning, while another ship is expected to arrive later tonight, the Energy Division said.
BPC officials said there is no immediate crisis regarding fuel reserves. Of the 14 cargoes scheduled to arrive this month, most have already reached the country, while a few are still on the way.
For next month, 13 of the planned 15 cargoes have so far been confirmed. Suppliers have said the remaining two cargoes will be sent the following month, in May.
Officials said contingency plans are also in place to import oil from Malaysia and Indonesia to avoid any possible shortage.
Regarding concerns over the Strait of Hormuz, an Energy Division official said they expect no disruption there as Chinese vessels remain outside the scope of sanctions.
The Energy Division said the process of importing 280,000 metric tonnes of diesel by next month has already been finalized and shipments have started arriving in the country. In addition, the process to import another 100,000 metric tonnes of diesel is underway.
Plans are being made to bring this diesel from India, Brunei and several other countries.
According to the latest BPC data, diesel reserves currently stand at about 158,921 metric tonnes, which can meet demand for around 13 days.
Octane reserves stand at about 26,251 metric tonnes, enough to supply the market for around 25 days.
Petrol reserves total about 20,609 metric tonnes, which can meet demand for roughly 17 days.
Furnace oil reserves stand at about 67,509 metric tonnes, enough to sustain supply for about 45 days.
Jet fuel reserves total about 60,698 metric tonnes, which can support supply for around 42 days.
Kerosene reserves stand at about 14,073 metric tonnes, enough to meet demand for about 71 days.
Marine fuel reserves total about 5,004 metric tonnes, which can sustain supply for around 19 days, according to BPC data.
BPC said the estimated supply duration has been calculated based on stocks stored at depots and storage facilities across the country as well as the average daily sales.
The corporation said import activities are continuing as needed to keep the fuel supply situation normal.
