Russia offers to export refined diesel at $59 dollars to Bangladesh

[BananaRepublicUK]

well the point is there is no western ban on purchase of Russian oil and gas. If Bangladesh decides to purchase Russian fuel it's not a problem, no sanctions, no consequence. UKBengali invented a problem and then theorized the west is too weak to stop Bangladesh. I don't get why people living in the west long for their own countries to "become feeble".

So, you think anyone can buy Russian oil?

Just like that

Pray tell us what happened to Imran Khan?

 

[Bengal71]

well the point is there is no western ban on purchase of Russian oil and gas. If Bangladesh decides to purchase Russian fuel it's not a problem, no sanctions, no consequence. UKBengali invented a problem and then theorized the west is too weak to stop Bangladesh. I don't get why people living in the west long for their own countries to "become feeble".

Please don't let the 'feeble' word hurt your feelings. Obviously the west is not feeble. We know that, the whole world knows that. We need the west as they are our major export destinations and we haven't been harmed by them (so far except for the colonial times). It is in our interest to continue to trade with the west and be on good terms. I just wish that the US and it's allies try to understand the predicaments we have as a developing country where we can fall into severe crisis because of high prices of oil as we don't have the economic means to continue to buy oil at such high prices. We need the cheap Russian oil or any cheap oil from any source.

So, you think anyone can buy Russian oil?

Just like that

Pray tell us what happened to Imran Khan?

Imran Khan did not get kicked out because of trying to buy Russian oil.

 

[bluesky]

Please open the Reuter news below to see that America has not sanctioned oil purchases from Russia. It is March news but no changes occurred since then. This is what I think.

U.S. has not sanctioned Russian oil but traders avoiding it

U.S. traders in the nation’s largest oil hubs have cautiously put imports from Russian companies on hold, even though the White House has said oil sales are not the target of sanctions.

www.reuters.com

 

[Samlee]

China India and Saudi are already importing.Pakistan and Bangladesh should import together
The west can't just sanction everyone

 

[bluesky]

It is not that I like the Rissian invasion of Ukraine. But, the war has opened the weakness of NATO/ Western countries. They are unable to forge anything together.

Every country is for itself because each has a different set of issues. American issues are so different from German issues.

On the contrary, Russian diplomatic standing is returning to the USSR time. It has successfully created new allies so far allied exclusively with the Western countries. Many countries are returning to the Russian fold thanks to its fuel and wheat diplomacy.

America lacks the energy fuel to play stronger than Russia. And Russia is setting new rules and new world order.

Saying so, BD is a small and poor country that depends also on Western goodwill for its exports. BD must navigate the water prudently.

 

[Black_cats]

Bangladesh may prefer to import Russian oil via third country​

Published: August 21, 2022 18:10:28

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Bangladesh may prefer to import Russian oil via a third country to avert possible risks of the business.

According to official sources at the Ministry of Power, Energy and Mineral Resources, neighbouring India might be such a preferred third country with regard to importing Russian oil.

"Currently, India has been importing Russian oil defying the US sanctions while Bangladesh has a long-term contract with India to import refined oil from its refinery at Numaligarh in Assam state, '' said an official at the ministry preferring anonymity.

“If there is a bilateral arrangement between the two nations, such a business is very much possible,” he said, adding it could be a possible way to avert the risk in import of Russian oil at a cheaper rate.

The possibility of importing petroleum fuel from Russia came into discussion at the policymaking level following an offer from a Russian company to sell its refined petroleum, specially diesel, at a cheaper rate to Bangladesh, reports UNB.

Russneft, a Russian oil company headquartered in Moscow, recently offered the state-owned Bangladesh Petroleum Corporation (BPC) petroleum fuels at $59 per barrel against a global market price of over $100 per barrel.

As per the offer, the Russian company will reach its refined petroleum to Chattagram port at the rate which includes the premium and shipping cost as well.

However, the Ministry of Power, Energy and Mineral Resources has not yet officially disclosed anything about the Russian company’s offer.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid declined to give any detail of such an offer.

“No more update as yet,” he told UNB on Thursday.

Sources at the BPC said the import of Russian oil is not like fuel import from other countries.

They said Bangladesh is assessing its possible risks to import petroleum fuels from Russia as such imports may invite anger from the USA and its Western allies.

Russia has been facing huge economic sanctions from the USA and its European allies following its war with Ukraine.

If any country directly imports Russian oil it may face similar sanctions, said the officials, adding that is why any move in this regard will not only depend on the decision of the Ministry of Power, Energy and Mineral Resources.

Bangladesh may prefer to import Russian oil via third country

Bangladesh may prefer to import Russian oil via a third country to avert possible risks of the business. According to official sources at the Ministry of Power, Energy and Mineral Resources, neighbouring India might be such a preferred third country with regard to importing Russian oil...

thefinancialexpress.com.bd

 

[dbc]

Please don't let the 'feeble' word hurt your feelings. Obviously the west is not feeble. We know that, the whole world knows that. We need the west as they are our major export destinations and we haven't been harmed by them (so far except for the colonial times). It is in our interest to continue to trade with the west and be on good terms. I just wish that the US and it's allies try to understand the predicaments we have as a developing country where we can fall into severe crisis because of high prices of oil as we don't have the economic means to continue to buy oil at such high prices. We need the cheap Russian oil or any cheap oil from any source.



Imran Khan did not get kicked out because of trying to buy Russian oil.

it's not just Bangladesh that is suffering, Americans suffer at the pump too. It's part of the reason Biden went to Saudi and released oil from the strategic reserves. One thing everyone needs to understand is that over the last decade there has been little invested in finding and developing new fields. Oil producers, will need to invest in developing new fields to replace brownfields and that requires a period of high prices. This is the reason Saudi and others are reluctant to over produce today and bring down prices. We are in a catch 22 scenario, oil producers need to make huge investments and need higher prices while economies around the world are on the threshold of recession. As for Russia, its output is declining 16% YoY accelerated by sanctions on Western technology and is expected to be worse next year. Russian oil and gas may be an answer for Bangladesh today but its ability to sustain production is rapidly declining. Hopefully sanctions on Iran will be lifted soon, but Saudi is once again playing pantomime villain. They will not raise production and they will do everything possible to block Iran.

 

[bluesky]

Bangladesh may prefer to import Russian oil via third country

This small man has been proposing to import via India for many weeks. No other country is more suitable than India. If it is Russian crude.

India can process it and re-export the fuels to BD by keeping a margin of profit. India gets profits and BD gets its fuel supply cheaper.

 

[Bengal71]

it's not just Bangladesh that is suffering, Americans suffer at the pump too. It's part of the reason Biden went to Saudi and released oil from the strategic reserves. One thing everyone needs to understand is that over the last decade there has been little invested in finding and developing new fields. Oil producers, will need to invest in developing new fields to replace brownfields and that requires a period of high prices. This is the reason Saudi and others are reluctant to over produce today and bring down prices. We are in a catch 22 scenario, oil producers need to make huge investments and need higher prices while economies around the world are on the threshold of recession. As for Russia, its output is declining 16% YoY accelerated by sanctions on Western technology and is expected to be worse next year. Russian oil and gas may be an answer for Bangladesh today but its ability to sustain production is rapidly declining. Hopefully sanctions on Iran will be lifted soon, but Saudi is once again playing pantomime villain. They will not raise production and they will do everything possible to block Iran.

Saudis obviously have an interest not to raise production, they are enjoying the high prices.