Govt considering buying India's surplus fuel: Foreign Secretary

[mb444]

If cheaper than global rate then it makes sense in the short term, otherwise no.

In the longrun BD needs to consider setting up refinaries in country.

BD should not facilitate creation of any strategic leverage for india. Surplus oil has no meaning at all. BD requires guaranteed supply and I see no reason to shift away from the Arabs unless benefits are quantifiable and sustained.

 

[Bilal9]

wonder what's @Bilal9 's take on this

Buying fuel oil is helpful for the economy, wherever it comes from. Provided it is a fair price, there should be no issues.

The only problem arises - when countries try to block supplies, and artificially raise commodity prices to make an extra buck.

If cheaper than global rate then it makes sense in the short term, otherwise no.

In the longrun BD needs to consider setting up refinaries in country.

BD should not facilitate creation of any strategic leverage for india. Surplus oil has no meaning at all. BD requires guaranteed supply and I see no reason to shift away from the Arabs unless benefits are quantifiable and sustained.

My thoughts exactly, we should not be lulled into any sense of comfort and smoothing of our feathers because of Indian diesel piped to our borders.

At best it is supplemental stock to tide over supply shocks, like the one happening right now.

It is the responsibility of Energy ministers to ensure sufficient stock for running business and logistics operations for at least a year under normal conditions and that should include local LNG produced from local gas.

We should also stop appointing ministers to these critical positions who dream of Akhand Bharat and Ram Rajya principles....like which were awarded the portfolios of education and commerce ministries.

 

[Bilal9]

I think @Bilal9 will dislike this novel arrangement only because BD dollars will find ways to enter India and BD will become poorer than now. He may also think that without timely payments, India will complain the matter to the WTO.


Yes, because of Mullah teaching, our people are generally a group of ingrates. No humanity, no sincerety and no thanks giving.

It's okay bluesky bhai, if we need fuel oil and diesel and Indian price is fair, I see no problem in getting it from them. But we should not let them have any leverage to control our supply of fuel. The portion of Indian fuel and diesel imported must never be allowed to exceed at best 10% of our total fuel needs. Besides we get special subsidized petroleum from Gulf countries as a Muslim economy. India cannot match those prices.

Even I can guess his take.

Don’t want to steal his thunder. Let him declare himself - what all is wrong with this idea.

Sorry to deflate your inflated balloon - see above.

 

[bluesky]

It's okay bluesky bhai, if we need fuel oil and diesel and Indian price is fair, I see no problem in getting it from them. But we should not let them have any leverage to control our supply of fuel. The portion of Indian fuel and diesel imported must never be allowed to exceed at best 10% of our total fuel needs. Besides we get special subsidized petroleum from Gulf countries as a Muslim economy. India cannot match those prices.

By knowing the nature of Indian govt people they will blackmail BD into giving them something more than that country deserves.

Anyway, India will start anew a new game to dominate BD. I would prefer similar oil supply agreement with China instead of India. But, the shipping costs will be prohibitively expensive.

By the way, I have started a new thread. It says India will expedite the pipeline construction to our Parbatipur in Dinajpur. It will reduce the carrying cost comparing to trucking or railway.

 

[bluesky]

Don't buy bloody oil, please

Do not please worry about @Homo Sapiens. He will spend sleepless nights with fans or A/Cs not running.

In the morning he will get up shouting at India that it is responsible for his restless nights.