State-owned Bangladesh Petroleum Corporation (BPC) is set to sign a 15-year sales and purchase agreement with Indian oil company Numaligarh Refinery Ltd (NRL) on October 22, for importing diesel to meet local demand. “We hope that the agreement will be signed during Indian Foreign Minister Sushma Swaraj’s upcoming Dhaka visit,” BPC Director (Operations and Planning) Sayed Mohammad Mozammel Haque told the Dhaka Tribune on Thursday. “Diesel will be imported through a cross-border pipeline from the Indian oil refinery, located at Golaghat in the north-eastern state of Assam. Managing Director of NRL, a subsidiary of India’s state-run Bharat Petroleum Corporation Ltd, P Padmanabhan and BPC Director Mozammel will sign the agreement on behalf of their respective countries in Dhaka. The BPC will pay NRL a premium of $5.50 per barrel while the diesel price will be fixed according to the rate in the international market.

Source: Dhaka Tribune October 20, 2017 05:48 UTC