The government yesterday approved the direct purchase of 1.75 lakh tonnes of diesel and octane from two suppliers, bypassing the standard tender process as concerns deepen over Gulf supply disruptions caused by the US-Israeli war on Iran.
The Cabinet Committee on Government Purchase (CCGP) cleared multiple proposals from state agencies to that end at a cost of nearly Tk 1,700 crore.As per the proposals, 100,000 tonnes of diesel will be bought from US-based Archer Energy LLC at Tk 674 crore. Another 75,000 tonnes of fuel, including 50,000 tonnes of diesel and 25,000 tonnes of octane, will be bought from Dubai-based DBS Trading House FZCO at Tk 1,023 crore.
The war on Iran, which began on February 28, sent oil prices spiralling after Iran effectively blocked the Strait of Hormuz, through which roughly one-fifth of global oil supply passes.
