Bangladesh puts China-built crude oil offloading facility into operation

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Bangladesh puts China-built crude oil offloading facility into operation

Bangladesh launched in recent days a large crude oil reception and discharge facility, Allowing the South Asian oil importer to significantly reduce the cost of shipping crude oil, a senior industry official told Reuters.

The installation of single point mooring at Port of Chittagong On Sunday, December 3, it unloaded 82,000 tons (about 600,000 barrels) of crude oil from a 100,000-ton tanker, according to a state oil company official. Bangladesh Petroleum Corp (BPC).

The project is mostly funded by the Chinese government and built by a unit of China’s state-owned oil company. CNPAccording the BPC official, who declined to be identified because he is not authorized to speak to the media.

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Bangladesh, which imports most of its fuel needs, does not have a deep-water port and relies on small vessels to transport crude oil from large tankers parked outside port compounds.

It used to take 11 days to unload a 100,000-ton cargo of oil and the new facility will reduce the unloading time to 48 hours, the BPC official said.

An engineering unit of the state-owned CNPC began construction of the government-funded unloading facility in 2019. Export-Import Bank from China, which offers preferential loans, the Reuters source added.

The new facility is expected to accelerate the planned expansion of Bangladesh’s sole refinery to 3 million tons per year (60,000 barrels per day) from the current 1.5 million tons per year, the insider added.

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Eastern Refinery Limitedthe onLimited they in Bangladesh, currently processes 1.4 million tons of crude oil per year.