Dhaka: The government today approved a proposal in principle for procuring crude oil on a government-to-government (G2G) arrangement under the direct procurement method for processing at Eastern Refinery Limited (ERL) in the 2026 calendar year. The decision aims to streamline the crude oil supply to ensure smooth operations at the country’s state-owned refinery.
According to Bangladesh Sangbad Sangstha, the Advisers Council Committee on Economic Affairs in its 36th meeting of the year recommended approving the proposal submitted by the Energy and Mineral Resources Division. The meeting was chaired by Finance Adviser Dr Salehuddin Ahmed and took place at the Cabinet Division Conference Room at Bangladesh Secretariat.
The committee’s endorsement of the crude oil procurement initiative highlights the importance of maintaining an uninterrupted supply and refining operations at ERL. This move is considered crucial for the country’s energy security and economic stability.