Bashundhara Oil and Gas Company (BOGCL) is likely to become the first private entity in the country to get the nod to market products after the refinement of imported crude oil, according to officials of the Bangladesh Petroleum Corporation (BPC).
The company already has a bitumen plant from which it sells by-products such as diesel oil to the BPC.
According to BPC sources, two to three companies applied for registration to establish a crude oil refinery, but the state-owned corporation is only considering Bashundhara's submission.
"It is complying with BPC regulations as they already have businesses with the BPC," said a top official of the state-owned corporation.
He claimed the rest of the companies only provided inadequate one-page submissions, which were declined by the BPC.
The BPC has formed a technical committee, led by its Director (operations) Khalid Ahmed, to analyze Bashundhara's submission.
