OUR VISION

The current levels of per capita Lubricants/Energy consumption in Bangladesh are extremely low as compare to the rest of the world. In terms of comparison with the developed countries, the differentials are even more marked. Growth of the economy would lead automatically to growth in Lubricants/Energy consumption, as there is a direct correlation between the GDP and in Lubricants/Energy consumption. The per capita consumption of primary in Lubricants/Energy of Bangladesh is amongst the lowest in the World. To develop in Lubricants/Energy sector as a globally competitive industry this could be benchmarked against the best in the world through technology up gradation and capacity building in all facets of the industry. The gap between supply and availability of crude oil, Lubricating products as well as petroleum from indigenous sources is likely to increase over the years. The growing demand and supply gap would require increasing emphasis to be given to the exploration and production sector. The objectives of the production policy would be as follows:-

OBJECTIVES:-

a) To undertake a total appraisal of Bangladesh sedimentary basins for tapping the Lubricants potential and to optimise production of Lubricating Oil and crude oil in the most efficient manner so as to have Reserve Replacement Ratio of more than others.

b) To keep pace with technological advancement and application and be at the technological forefront in the global exploration and production industry.

c) To achieve as near as zero impact, as possible, on environment.

d) To achieve the country’s objectives the actions are required to be taken, viz; pursue projects to meet the deficit in demand and supply of Lubricants, and facilitate availability of development.