Govt approves proposal for importing 1.5m tonnes crude oil

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved in principle to import 1.5 million metric tons of crude oil from Saudi Arabia and United Arab Emirates (UAE) for the year 2024.

The approval came from the 24th meeting of the CCEA in this year held virtually with Finance Minister AHM Mustafa Kamal in the chair, reports BSS

Briefing reporters after the meeting virtually, Cabinet Division additional secretary Sayeed Mahbub Khan said as per proposal of the state-owned Bangladesh Petroleum Corporation (BPC), moved by the Energy and Mineral Resources Division of the Ministry of Power, Energy and Mineral Resources, the crude oil will be imported through direct purchase method (DPM).

Saudi Aramco and UAE-based Adnoc will supply the total crude petroleum, he added.

The Cabinet body also approved, in-principle, another proposal -- of Bangladesh Hi-Tech Park Authority under the Department of Information and Communication Technology -- to appoint a private company for operation and maintenance work of its "Vision 2041 Smart Tower" in Kawranbazar, Dhaka.

The company will operate the building under the "Digital Entrepreneurship and Innovation Eco-System" project after its construction work.