Bangladesh to receive 1 lakh tonnes of Saudi crude oil in early May

Bangladesh is set to receive a major crude oil shipment from Saudi Arabia in early May, as part of efforts to maintain fuel supply amid ongoing regional tensions.

An oil tanker carrying around 1 lakh tonnes of crude oil is expected to arrive at Chattogram Port on 4 or 5 May, Managing Director of Eastern Refinery PLC Md Sharif Hasnat confirmed on Tuesday.

He said the vessel, named MT Ninemia, departed from Yanbu Port on Saudi Arabia’s Red Sea coast early Tuesday after being loaded the previous night. Unlike usual routes, the tanker is travelling via the Red Sea, bypassing the Strait of Hormuz due to security concerns.

Officials said that the shipment is expected to play a crucial role in stabilising Bangladesh’s fuel supply during a period of uncertainty in global energy markets.

Sharif Hasnat noted that vessels typically take around two weeks to reach Chattogram from Saudi Arabia.

He added that the expected arrival of the crude shipment would help ease concerns surrounding operations at the state-run refinery.

Meanwhile, another tanker, Nordics Pollux, also carrying 1 lakh tonnes of crude oil, remains stranded at Ras Tanura Port in Saudi Arabia’s eastern region due to disruptions linked to the closure of the Strait of Hormuz.

According to Bangladesh Petroleum Corporation (BPC), the country’s annual fuel demand stands at approximately 72 lakh tonnes, of which about 92 per cent is met through imports. Only around 8 per cent comes from domestic sources.

Eastern Refinery Limited (ERL) processes roughly 15 lakh tonnes of crude oil annually, supplying nearly 20 per cent of the country’s fuel requirements.

BPC data shows that Bangladesh sold about 68,30,000 tonnes of fuel in the 2024-25 fiscal year. The transport sector accounted for the largest share, consuming over 63 per cent of total fuel, followed by agriculture, power generation, industry, households, and other sectors.

In terms of fuel types, diesel dominated consumption with more than 63 per cent of total sales, followed by furnace oil, petrol, octane, jet fuel, kerosene, and other products.