CHATTOGRAM, Bangladesh (Commonwealth Union)_ The oil refinery Partex Petro Ltd has begun manufacturing and distribution of aviation fuel, becoming the first firm in Bangladesh to provide the final product for the expanding air transport sector. Partex Group has spent Tk 1,400 crore to establish the factory, which at its full capacity would manufacture 14,000 barrels of gasoline, octane, and diesel per day, in addition to 2,800 barrels of jet fuel.
Commenting on the development, Rubel Aziz, managing director of Partex Group, said: “We are able to meet one-third of the demand for jet fuel in the country and save $300 million in foreign currencies.” Every day, Bangladesh requires more than 9,000 barrels of jet fuel. Aziz stated that Partex Petro’s value addition per barrel is nearly $50 since the firm imports base oil. “If the government imports finished oil, it has to spend $159 per barrel. We are supporting the government to mitigate the dollar crisis,” he added.
Partex Petro sent Padma Oil its first shipment of 10 million liters of jet fuel this week. Domestic and international airlines in Bangladesh, as well as private helicopter operators, the Bangladesh Air Force and the Bangladesh Army, utilize this domestic jet fuel. The Bangladesh Petroleum Corporation (BPC) sold around 238,000 tonnes of jet fuel in the financial year 2020-2021, which is a decline from 345,000 tonnes in the previous fiscal year, since the COVID-19 pandemic severely impacted the domestic and international air travel market.
Partex Group has built the largest condensate refining facility in the country on 40 bighas of land beside the banks of the Karnaphuli River in Anwara, Chattogram. According to Subir Kumar Ghose, the chief executive officer of Partex Petro, the facility can meet the nation’s energy requirements. “Our refineries are strategically located in the south of Bangladesh, offering the benefits of low transportation costs for raw materials and proximity to high-growth markets,” he added.
