State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Monday said Russia has offered to export crude oil to Bangladesh.
“However, there are still many obstacles when it comes to paying for imports to Russia. If these issues are resolved, we will move forward,” he said while talking to reporters at Bidyut Bhaban in Dhaka.
According to the Bangladesh Petroleum Corporation, the country every year consumes around 60 lakh tonnes of crude oil which is imported from major sources like Saudi Arabia and the United Arab Emirates.
In November last year, the government increased prices of diesel and kerosene by Tk 15 per litre in the backdrop of price hike on the global market.
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Oil prices gained on Monday with US fuel demand, tight supply and a slightly weaker US dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth.
Brent crude futures rose $1.12 or 1 per cent to $113.67 a barrel at 0912 GMT, while US West Texas Intermediate (WTI) crude futures climbed 96 cents, or 0.9 per cent, to $111.24 a barrel, adding to last week's small gains for both contracts, reports Reuters.
