Bangladesh: Saudi Aramco Planning Refinery, says Official
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Thursday, 24 November 2011 |
The Financial Express of Bangladesh reports that Saudi Aramco is interested in building a crude oil refinery plant in the Republic. Citing a “top Government official”, the newspaper says Aramco has made a proposal to the Economic Relations Division (ERD) to build the refinery with a capacity of 7-8m tonnes per year at a cost of roughly $2.5bn.
The current state-owned Eastern Refinery Ltd (ERL) can refine only 1.4 million tonnes of crude annually, and the ERD has already informed the energy ministry of the proposal. "We have received the Saudi Aramco's proposal recently over building an oil refinery plant at its own cost," said an official at the Energy Ministry. The official said that the ministry would be scrutinising the proposal, which could potentially cut the substantial cost of importing petrol to the Republic.
PetrolWorld 24112011
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