টপিকঃ To reduce petroleum import cost government plan to build crude oil re
Kuwait Petroleum Inter-national (KPI) delegation interest to build the crude oil refinery in Bangladesh. KPI has scrapped its plan to construct a 10 million tonnes per year capacity crude oil refinery worth US$ 6.0 billion in Bangladesh in a major setback for future energy security. Kuwait Petroleum Corporation (KPC), is now keen to shift the site of its planned refinery to Bangladesh. The Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources planned to hand over the land to the KPI. The KPI had plans to build a refinery in the country with the capacity of 300,000 barrels per day. The Kuwaiti firm was eyeing to build a complex refinery to convert less valuable petroleum output into a valuable one. Bangladesh currently imports around 6.0 million tonnes of refined and crude oil every year. The government has long been trying to increase the country's crude oil refining capacity to reduce its petroleum import costs and cope with the mounting demand for petroleum products.