BPC fuel oil sales rise slightly in last FY padma oil leads market

Business Report :

Bangladesh Petroleum Corporation (BPC) reported a modest increase in fuel oil sales in FY 2024-25, with its six subsidiaries selling over 6.83 million tons, up from 6.76 million tons the previous year a 1.09 percent rise.

Padma Oil Company Limited led the market, selling nearly 2.62 million tons, or 38.41 percent of total sales, largely thanks to its exclusive license for jet fuel.

Meghna Petroleum Limited followed with 2.38 million tons (34.88 percent), while Jamuna Oil Company Limited sold 1.71 million tons (25.11 percent). Together, the top three companies accounted for over 73 percent of BPC’s fuel oil sales.

Padma Oil’s Managing Director, Md Mofizur Rahman, said the company has steadily increased its market share in recent years, which helped reduce operational losses.

Meghna Petroleum, once the sole market leader, sold slightly more fuel in FY 2024-25 compared to the previous year, while Jamuna Oil also saw an increase in sales.

Standard Asiatic Oil Company Limited (SAOCL) sold 100,265 tons, a slight decline from the previous year, while LP Gas Limited and Eastern Lubricants Blenders PLC reported minimal sales.

SAOCL’s CEO, Ferdousi Masum Himel, attributed the decline to the end of credit sales and the closure of many power plants that previously bought fuel on credit.

In terms of fuel types, diesel remained the top-selling product, with 4.35 million tons distributed among Meghna (1.68 million tons), Padma (1.44 million tons), Jamuna (1.25 million tons), and SAOCL (19,761 tons).

Furnace oil sales reached 878,088 tons, while petrol sales totaled 462,475 tons and octane 415,653 tons. All 547,804 tons of jet fuel were sold through Padma Oil. Other products included kerosene, bitumen, lubricating oil, marine fuel, and LPG.

Padma Oil and Meghna Petroleum continue to dominate key fuel categories, with Padma holding the edge in jet fuel and Meghna leading diesel sales. The overall increase in BPC’s fuel sales reflects steady energy demand in the country, despite challenges in smaller subsidiaries and changes in industrial consumption patterns.