DHAKA, April 1 Bangladesh expects to stop
importing 95-octane gasoline by 2016, saving $200 million
annually, a senior energy official said on Monday.
"We are working on a plan to become self-sufficient in
octane in four years by enhancing annual production at Rashidpur
Condensate Fractionation Plant (RCFP) to 120,000 tonnes," said
Muhammad Hussain Monsur, Chairman of the Bangladesh Oil, Gas and
Mineral Corporation, or Petrobangla.
"That is good enough to meet the entire domestic annual need
for octane," he told Reuters. "It will save $200 million as we
will no longer buy octane from abroad." RCFP is a subsidiary of
Bangladesh currently imports about 90,000 tonnes a year of
95-octane gasoline. It buys refined oil products from several
state-owned oil companies including Malaysia's Petronas
, PetroChina, Philippines National Oil
Company (PNOC), Kuwait Petroleum Corporation (KPC), Emirates
National Oil Company (ENOC), Egypt's Middle East Oil Refinery
and Vietnam's Petrolimex.
"We have already taken up a project to refine additional
condensate produced by the RCFP," Monsur said. RCFP currently
produces 36,000 tonnes of octane for fuel-run motor vehicles,
43,200 tonnes of petrol, 36,000 tonnes of kerosene and 43,200
tonnes of diesel.
Monsur said that after the completion of the RCFP expansion
in 2016 at a cost of 1.60 billion taka ($20 million) it would
use the condensate from Bibiyana gas filed which is run by U.S
energy firm Chevron.
($1= 78.00 taka)
(Reporting By Serajul Quadir; Editing by Anis Ahmed and