The government has launched a comprehensive initiative to increase the country's strategic fuel storage capacity to 90 days. This move aims to strengthen energy security and protect the economy from global geopolitical and market uncertainties. Bangladesh Petroleum Corporation (BPC) Chairman Md Rezanur Rahman stated that the initiative will ensure uninterrupted industrial production and sustain economic growth even during disruptions in the international energy market.
Under the plan, the strategic fuel storage capacity will be increased from the current 60 days to 71 days by December this year and to 90 days by 2027. The Energy Division and BPC are implementing a series of measures to achieve this, including expanding storage infrastructure, constructing new depots, renovating idle tanks, and leasing surplus tanks from government and private organizations.
BPC's current fuel storage capacity is sufficient for more than 60 days, and the government is working to increase it to 71 days by December. The target is to ensure 90 days' storage capacity by 2027. Energy Division Secretary Mohammad Saiful Islam noted that the energy policy stipulates a strategic fuel reserve of 60 days, but the government plans to raise it to 90 days considering current realities.
BPC's storage capacity for diesel is 57 days, for octane 46 days, for petrol 29 days, and for furnace oil 78 days. The corporation aims to increase the country's overall strategic fuel storage capacity to 90 days. The government is also planning to lease surplus storage capacity from power plants, Bangladesh Railway, and the Bangladesh Road Transport Corporation (BRTC).
Energy Division joint secretary Monir Hossain Chowdhury mentioned that if the power sector and Bangladesh Railway store fuel for three months' demand, the country's overall fuel reserve could increase by another 12 to 13 days without launching any new projects. However, these organizations prefer deferred payment, which poses a challenge for BPC as it imports petroleum through cash payments.
