Numaligarh Refinery (NRL), the Assam-based subsidiary of state-run Bharat Petroleum Corporation (BPCL) has inked a 15-year agreement with Bangladesh Petroleum Corporation (BPC) for exporting gas oil (off road diesel). In the process, the Miniratna PSU has become the first Indian company to sign a long-term fuel supply deal with Bangladesh.
The heads of the two entities inked the deal in the presence of external affairs minister Sushma Swaraj, who concluded her two-day visit to Bangladesh.
BPC will initially import up to a quarter million tonne per annum (MTPA) of gas oil from NRL for the first three years through a 133-km product pipeline proposed to be built with a capacity of 1 MMTPA, the company said in a statement. The quantity will be gradually raised to 400,000 tonnes over the tenor of the supply agreement which will take effect after the pipeline is built.