Russia offers crude oil export to Bangladesh: Nasrul Hamid

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 from Russia. If these issues are resolved, we will move forward,” he said while talking to reporters at Bidyut Bhaban in Dhaka.

China and India have been importing fuel oil from Russia amid sanction by the West nations since the beginning of Ukraine war. China is currently importing a record amount of oil from Russia, according to world media.

State Minister Nasrul Hamid gave this information in such a situation. However, it is not yet clear what decision the government will take in this regard.

An official present at the meeting said the state minister had only expressed the interest showed by Russia.

He did not say what decision the government would take in this regard.

According to BPC, Bangladesh consumes around 60 lakhs metric tons crude oil, mainly imported from Saudi Arabia and United Arab Emirates.

In November last year, BPC increased prices (Tk15/liter) of diesel and kerosene in the backdrop of price increase in the international market for petroleum at $85 per barrel (158.99 liters).

Brent crude futures rose 82 cents to $113.37 a barrel at 0126 GMT, while US West Texas Intermediate (WTI) crude futures climbed 69 cents, or 0.6%, to $110.97 a barrel, adding to last week’s small gains for both contracts.