Bangladesh is also contemplating to import Russian oil. The imports by Dhaka may happen either via India or directly following a Rosneft offer of hugely discounted Russian oil, ET has learnt. Dhaka-based sources told ET that Dhaka is mulling to purchase Russian oil via India.
India’s eastern neighbour Bangladesh is also contemplating to import Russian oil. The imports by Dhaka may happen either via India or directly following a Rosneft offer of hugely discounted Russian oil, ET has learnt.
Dhaka-based sources told ET that Dhaka is mulling to purchase Russian oil via India. The possibility of importing petroleum from Russia came into discussion at the policymaking level, following an offer from Russian oil major Rosneft to sell its refined petroleum, especially diesel, at a cheaper rate to Bangladesh.
Rosneft recently offered the state-owned Bangladesh Petroleum Corporation (BPC) petroleum at $ 59 per barrel against a global market price of over $100 per barrel.
As per the offer, Rosneft will send its refined petroleum to the Chittagong port at the rate which includes the premium and shipping cost as well, according to the above mentioned sources.
Bangladesh Prime Minister Sheikh Hasina at a meeting on August 16 said that the government wants to buy fuel, fertilizer and wheat from Russia. In this connection, she mentioned she had given the responsibility to her Principal Secretary to talk to the Russian Ambassador regarding the matter.
Meanwhile, while a third tanker of Russian oil is on its way to Colombo, Myanmar has started receiving Russian fossil fuel from September. Military-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices.
Colombo has been negotiating with Moscow for discounted oil amid the economic crisis and the issue was raised by the former President Gotabaya Rajapaksa with Russian President Vladimir Putin.
The military junta in bought Russian fuel oil and the cargoes will arrive in phases from September, said junta chief Min Aung Hlaing last week. Ties between the two countries have strengthened with Russia supplying arms, ammunition and training to Myanmar.
“We discussed buying and distributing fuel oil from Russia months before our head of state’s visit to Russia in July,” junta spokesman Zaw Min Tun said last week in a press briefing. “During his visit, the deal was successfully done. We aim to buy high-quality fuel oil at a cheap price from the country where we can get it quickly.”
Certain suppliers have stopped offering fossil fuel to some nations on concerns over their ability to pay. Oil Shipments from Russia tend to be cheaper than other supplies after western buyers stopped direct purchases due to sanctions and restrictions.