Bangladesh offered finished oil from Russia

Bangladesh does not have the capacity to refine Moscow's crude oil

A Russian state-owned company, Rosneft Oil Company Russia, offered to sell finished oil to Bangladesh last week.

Seeking anonymity, a Bangladesh Petroleum Corporation (BPC) high official revealed the information. 

Bangladesh does not have the capacity to refine Moscow's crude oil.

The price at which the company will supply oil could not be learnt immediately. But Bangladesh expects to get it at a reasonable price.

China and India are procuring Russian crude oil at 35% lower than regular prices as of now.

BPC currently imports refined fuel from eight countries — Kuwait, Malaysia, the UAE, China, Indonesia, Thailand, Singapore and India.

The price of refined oil is determined by S&P Platts' rate, which is equal to the crude oil price rate plus a $20-$24 premium per barrel.

The BPC is now looking over the proposal as Russia has given set conditions that come along with this.


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