When war in the Middle East sent fuel prices climbing, Bangladesh looked like an obvious casualty. An import-dependent economy with a thin reserve cushion and a recent history of dollar shortages had every reason to buckle. It has not.

Allowing private companies to directly import and market refined petroleum products could lead to revenue losses, artificial shortages, hoarding, price volatility, substandard fuel and risks to national energy security, said a BPC committee.

Move comes after Bashundhara’s proposal to bring in up to 33.5 lakh tonnes a yr; minister says it aims to introduce competition; BPC has ‘reservations’

Costlier crude imports are pushing up subsidies, inflation and pressure on reserves after renewed conflict unsettled global energy markets

Nearly three-fifths of Bangladesh’s trade deficit is now driven by fossil fuel imports, underscoring how the country’s growing reliance on imported energy has become a major structural burden on the economy, said the UK-based energy think-tank Ember.

The Cabinet Committee on Government Purchase (CCGP) today approved the import of another 2.6 lakh tonnes of fuel oil, as the government moves to safeguard national energy reserves against the backdrop of the US-Israel war on Iran

Asks US for waiver of sanctions on Russian petroleum products; looks for supplies from India, Malaysia, Nigeria, Australia, America

Bangladesh is contemplating import of Russian oil via a third country.