Dhaka:The Cabinet Committee on Economic Affairs has recommended the approval of three proposals to secure crude oil and refined petroleum product supplies for 2027. These include government-to-government (G2G) procurement and a shorter bidding period for imports through international tenders.
According to United News of Bangladesh, the committee's meeting took place at Bangladesh Secretariat, chaired by Finance Minister Amir Khosru Mahmud Chowdhury. The first proposal involves importing crude oil via the direct procurement method under the G2G process for processing at Eastern Refinery PLC (ERPLC) in 2027.
Additionally, the committee suggested direct procurement of refined petroleum products through the G2G approach for the entire year of 2027. These proposals were submitted by the Energy and Mineral Resources Division.
The committee also advised reducing the bidding period for international open tenders by the Bangladesh Petroleum Corporation (BPC) for the import of refined petroleum products in the first half of 2027. The new proposal suggests a 21-day period for bidders to submit their offers, as opposed to the current 42-day period. This measure aims to streamline the procurement process for refined fuel oil imports from January to June 2027.