In response to the global energy crisis, the government initiated a process to directly procure fuel oil from alternative sources. Under this mechanism, 56 foreign companies applied, and contracts were awarded to eight of them. Several more are awaiting approval. However, none of these suppliers has delivered oil so far. In other words, over the past two months, no “emergency supply” of fuel oil has arrived. At present, an open tender has been floated to procure oil for the July–December period.

Despite the situation, there is currently no fuel shortage in the country. After an increase in supply, congestion at filling stations has eased, and situations have largely returned to normal. A shipment of crude oil is expected in the first week of the month, and discussions are ongoing regarding two additional crude oil shipments.

For May, diesel demand stands at 370,000 tonnes. Suppliers have confirmed the arrival of 329,000 tonnes. Octane demand is 37,000 tonnes, of which 24,000 tonnes will come from local sources and around 26,500 tonnes are expected through imports. If direct procurement succeeds in bringing in additional diesel and octane, stock levels may further improve.

Officials of the Bangladesh Petroleum Corporation (BPC) explain that fuel procurement is planned in six-month cycles. Around 50 per cent of refined fuel is purchased through government-to-government (G2G) agreements, while the remaining half is procured via open tender.