Cabinet okays emergency 260,000 MT fuel imports

To ensure energy security amid rising tensions in the Gulf region, the Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved in principle the emergency procurement of 260,000 metric tons of fuel, including diesel and 
crude oil.
The approvals, presented by the Energy Ministry, were endorsed at a committee meeting chaired by Finance and Planning Minister Amir Khasru Mahmud Chowdhury, aimed at strengthening national reserves amid volatile global energy markets.

Following the green light, the Energy Division and Mineral Resources Division received clearance for three major import proposals under the Direct Purchase Method (DPM) and Government-to-Government (G2G) arrangements.

Under these arrangements, 100,000 metric tons of crude oil will be procured from Abeer Trade & Global Markets. In addition, under a G2G framework, 60,000 metric tons of 0.5% sulfur gas oil will be imported from Indonesia's state-listed firm PT Bumi Siak Pusako Zapin (BSP Zapin), while another 100,000 metric tons of 50 PPM sulfur diesel was approved for purchase from Maxwell International SPC.

However, the Energy and Mineral Resources Division withdrew two proposals from the meeting agenda: 100,000 metric tons of EN590-10 PPM sulfur diesel from Exxon Mobil Kazakhstan Inc. (EMKI) and 60,000 metric tons of 0.5% sulfur gas oil from Archer Energy LLC.

Officials noted that the direct purchase method is being used to bypass lengthy tendering processes, ensuring a steady fuel supply amid unstable international markets.

The approved proposals will now proceed to the Cabinet Committee on Government Purchase (CCGP) for final price verification and contract awarding.