Oil prices in the international market are low but looting in Bangladesh
In the global oil market, which is affected by Corona, the price has come down, but it is being sold in Bangladesh at the same price as 4 years ago. Oil prices fell in the international market at the beginning of the global stagnation in Corona. Demand for oil has plummeted worldwide as one country after another has been shut down in Corona and air travel has been curtailed. According to a BBC report on April 20, oil prices have fallen to an all-time low. Oil prices have fallen in the world market, including the United States. There have even been cases of buyers being harassed after buying oil. However, the purpose of keeping the previous prices in Bangladesh is to keep the top level people of the government in foreign banks. And the cowardly people of the country once took to the streets to increase the price of oil by one taka per liter during the BNP rule, but now they are buying ten taka of oil for one hundred taka with a smile.
In the international market, the Organization of the Petroleum Exporting Countries (OPEC) member countries were not already in agreement over oil prices. In addition, the Corona epidemic was compounded by differences between Russia and OPEC and non-OPEC allies. As a result, oil prices have fallen to alarming levels, forcing many countries to cut production.
As a result of the record fall in global demand during the Corona period, the actual price of petrol and diesel per liter fell in the international market by less than twenty rupees in Bangladeshi currency. But it did not have any effect on the market of Bangladesh. There was no change in the price of fuel oil. No objections were noticed from spineless buyers. The story of bribing thousands of crores of taka to India and Summit without electricity has come out on the pages of my country. But people are also afraid to make noise.
After that, even though the price of fuel oil of the world fell, there was no change in the price of the country. This is probably what the kneeling people deserve. It is said that the government provides oil at subsidized prices to oil-based power plants in Bangladesh. In addition, due to the marketing costs of the tariff and oil companies, its price in the retail market is still much higher. According to the October 11 update list of Bangladesh Petroleum Corporation, diesel-65, kerosene-75, petrol-6 and octane are being sold at Tk 69.
Note that BPC last rescheduled the price of fuel oil 4 years ago. After that no price adjustment was made.
According to the BPC's marketing department, energy demand in industry, trade, agriculture and transportation fell by 50 per cent during the Corona Lockdown. In April 2019, an average of 13,000 tons of diesel was used per day, but it was reduced to 6,000 tons. In addition, the daily demand for jet fuel in the airline was 1239 metric tons, but it decreased to only 61 tons. In addition, demand for other fuels, including petrol, octane and kerosene, has declined significantly.
As everything was closed, the use of fuel oil went to the bottom. At that time there were some pumps open in different parts of the country but their sales were very low. The petrol pumps in the capital are running on a limited scale. However, by taking advantage of this opportunity, the corrupt regime has built their illegal assets in foreign banks with stolen money from hiked up energy price.
Oil storage capacity in Bangladesh:
BPC officials say that even though the price of fuel oil has come down in the international market, Bangladesh is not able to take advantage of it as there is not enough space for oil storage in the country. BPC usually imports Arab light and marble oil from Saudi Arabia, UAE and Kuwait.
According to BPC sources, diesel is about 70-75 percent of the demand for fuel oil in Bangladesh. At present, there is a stock of 5 lakh 30 thousand tons against the capacity of 6 lakh 26 thousand tons of diesel. Four more oil tankers awaiting unloading contain 120,000 tonnes of oil.
According to Chittagong Customs, from January to April 23 this year, 6 lakh 79 thousand tons of diesel was imported and 3 lakh 30 thousand tons of crude fuel oil was imported. At the same time last year it was 10 lakh 71 thousand tons and 3 lakh 6 thousand tons respectively.
BPC wants to increase stocks:
Bangladesh Petroleum Corporation (BPC) wants to take advantage of this opportunity to lower the price of fuel oil in the international market.
According to BPC sources, Bangladesh buys 50-55 lakh tonnes of oil from the international market every year. Meanwhile, the official oil storage capacity is three months. BPC wants to take advantage of the opportunity to reduce oil prices in the international market.
It is to be noted that electricity is generated at higher prices to run oil based power plants. As a result, BPC was counting the losses due to subsidy for a long time. The authorities think that it would have been possible to reduce the losses if the stocks could have been increased to reduce the price in the international market.
According to analysts, the potential of the private sector can be harnessed in oil reserves. In this case, if fuel oil is imported from the international market, it is possible to meet the demand for one year.
They say the cost of production of goods and services should be reduced by increasing oil reserves. Because the purchasing power of consumers is decreasing day by day.
According to government sources, BPC has taken steps to buy some additional petroleum fuel from the international market at lower prices. To this end, they approached nine private companies to use their warehousing facilities on a rental basis to store imported fuel oil. Currently those companies are using their archives for power plant or refinery business.
But the purpose of the corrupt government is to reduce oil reserves on the one hand, and to pay thousands of crores of taka as capacity charges to regime followers and India without buying electricity. It is to be noted here that most of the money of this commission is shared by the head of government and his family. In recent times, the fall in oil prices has been a boon for this corrupt class. The International Monetary Fund, the World Bank and the ADB are directly contributing to the government's corruption. To please India, all these international financial institutions have been providing all kinds of assistance to the pro-India fascist government of Bangladesh in corruption. And the burden of this debt has to be borne by the general poor population of the country. If a people's government is ever established in Bangladesh, the international organizations will have to be held accountable by helping Sheikh Hasina in all these corruptions.
It is also to be noted that the revenue of the government is declining, the people's pockets are being cut and the price of fuel oil is being increased 4/5 times to meet the revenue deficit. The people of Bangladesh have turned into lifeless zombies like horror movies and the government is failing to protest against this misdeed.
www.newsbybd.net
In the global oil market, which is affected by Corona, the price has come down, but it is being sold in Bangladesh at the same price as 4 years ago. Oil prices fell in the international market at the beginning of the global stagnation in Corona. Demand for oil has plummeted worldwide as one country after another has been shut down in Corona and air travel has been curtailed. According to a BBC report on April 20, oil prices have fallen to an all-time low. Oil prices have fallen in the world market, including the United States. There have even been cases of buyers being harassed after buying oil. However, the purpose of keeping the previous prices in Bangladesh is to keep the top level people of the government in foreign banks. And the cowardly people of the country once took to the streets to increase the price of oil by one taka per liter during the BNP rule, but now they are buying ten taka of oil for one hundred taka with a smile.
In the international market, the Organization of the Petroleum Exporting Countries (OPEC) member countries were not already in agreement over oil prices. In addition, the Corona epidemic was compounded by differences between Russia and OPEC and non-OPEC allies. As a result, oil prices have fallen to alarming levels, forcing many countries to cut production.
As a result of the record fall in global demand during the Corona period, the actual price of petrol and diesel per liter fell in the international market by less than twenty rupees in Bangladeshi currency. But it did not have any effect on the market of Bangladesh. There was no change in the price of fuel oil. No objections were noticed from spineless buyers. The story of bribing thousands of crores of taka to India and Summit without electricity has come out on the pages of my country. But people are also afraid to make noise.
After that, even though the price of fuel oil of the world fell, there was no change in the price of the country. This is probably what the kneeling people deserve. It is said that the government provides oil at subsidized prices to oil-based power plants in Bangladesh. In addition, due to the marketing costs of the tariff and oil companies, its price in the retail market is still much higher. According to the October 11 update list of Bangladesh Petroleum Corporation, diesel-65, kerosene-75, petrol-6 and octane are being sold at Tk 69.
Note that BPC last rescheduled the price of fuel oil 4 years ago. After that no price adjustment was made.
According to the BPC's marketing department, energy demand in industry, trade, agriculture and transportation fell by 50 per cent during the Corona Lockdown. In April 2019, an average of 13,000 tons of diesel was used per day, but it was reduced to 6,000 tons. In addition, the daily demand for jet fuel in the airline was 1239 metric tons, but it decreased to only 61 tons. In addition, demand for other fuels, including petrol, octane and kerosene, has declined significantly.
As everything was closed, the use of fuel oil went to the bottom. At that time there were some pumps open in different parts of the country but their sales were very low. The petrol pumps in the capital are running on a limited scale. However, by taking advantage of this opportunity, the corrupt regime has built their illegal assets in foreign banks with stolen money from hiked up energy price.
Oil storage capacity in Bangladesh:
BPC officials say that even though the price of fuel oil has come down in the international market, Bangladesh is not able to take advantage of it as there is not enough space for oil storage in the country. BPC usually imports Arab light and marble oil from Saudi Arabia, UAE and Kuwait.
According to BPC sources, diesel is about 70-75 percent of the demand for fuel oil in Bangladesh. At present, there is a stock of 5 lakh 30 thousand tons against the capacity of 6 lakh 26 thousand tons of diesel. Four more oil tankers awaiting unloading contain 120,000 tonnes of oil.
According to Chittagong Customs, from January to April 23 this year, 6 lakh 79 thousand tons of diesel was imported and 3 lakh 30 thousand tons of crude fuel oil was imported. At the same time last year it was 10 lakh 71 thousand tons and 3 lakh 6 thousand tons respectively.
BPC wants to increase stocks:
Bangladesh Petroleum Corporation (BPC) wants to take advantage of this opportunity to lower the price of fuel oil in the international market.
According to BPC sources, Bangladesh buys 50-55 lakh tonnes of oil from the international market every year. Meanwhile, the official oil storage capacity is three months. BPC wants to take advantage of the opportunity to reduce oil prices in the international market.
It is to be noted that electricity is generated at higher prices to run oil based power plants. As a result, BPC was counting the losses due to subsidy for a long time. The authorities think that it would have been possible to reduce the losses if the stocks could have been increased to reduce the price in the international market.
According to analysts, the potential of the private sector can be harnessed in oil reserves. In this case, if fuel oil is imported from the international market, it is possible to meet the demand for one year.
They say the cost of production of goods and services should be reduced by increasing oil reserves. Because the purchasing power of consumers is decreasing day by day.
According to government sources, BPC has taken steps to buy some additional petroleum fuel from the international market at lower prices. To this end, they approached nine private companies to use their warehousing facilities on a rental basis to store imported fuel oil. Currently those companies are using their archives for power plant or refinery business.
But the purpose of the corrupt government is to reduce oil reserves on the one hand, and to pay thousands of crores of taka as capacity charges to regime followers and India without buying electricity. It is to be noted here that most of the money of this commission is shared by the head of government and his family. In recent times, the fall in oil prices has been a boon for this corrupt class. The International Monetary Fund, the World Bank and the ADB are directly contributing to the government's corruption. To please India, all these international financial institutions have been providing all kinds of assistance to the pro-India fascist government of Bangladesh in corruption. And the burden of this debt has to be borne by the general poor population of the country. If a people's government is ever established in Bangladesh, the international organizations will have to be held accountable by helping Sheikh Hasina in all these corruptions.
It is also to be noted that the revenue of the government is declining, the people's pockets are being cut and the price of fuel oil is being increased 4/5 times to meet the revenue deficit. The people of Bangladesh have turned into lifeless zombies like horror movies and the government is failing to protest against this misdeed.
বিডিটুডে.নেট:আন্তর্জাতিক বাজারে তেলের দাম তলানীতে কিন্তু বাংলাদেশে লুটপাট
করোনায় আক্রান্ত বিশ্বে আন্তর্জাতিক তেলের বাজারে দাম তলানিতে নেমে আসলেও বাংলাদেশে বিক্রি হচ্ছে ৪ বছর আগের দামেই। করোনায় বিশ্বজুড়ে অচলাবস্থা শুরুর দিকেই তেলের দাম পড়ে যায় আন্তর্জাতিক বাজ
