Saudi Aramco has proposed to build a refinery in Bangladesh, state news agency BSS reported citing an official release by the power, energy and mineral resources ministry.


It said that Aramco Managing Director Waleed K Ghemlas expressed the Saudi Arabian national petroleum and gas company’s interest during a meeting in Dhaka on Monday (Jan 21 ) with State Minister Nasrul Hamid.


State Minister Hamid urged Aramco to conduct a feasibility study on the market and the Bangladesh Petroleum Corporation (BPC) to assist in this regard during the meeting, according to the statement.
Energy and Mineral Resources Division Secretary Abu Hena Md Rahmatul Munim and Aramco India Office President Mohammed Mughirah were present, among others, in the meeting, said the BSS report.
Sources confirmed Bangla Tribune that Aramco is keen on investing in a refinery capable of processing 20 million tonnes of crude oil a year.
Bangladesh, however, said it’s contemplating a refinery in line with its plans to increase oil import from 5 .5million tonnes to 10 million by the next few years, they said.
Bangladesh's state-run Eastern Refinery Limited in Chittagong port refines 1.5 million tonnes of crude a year while the remaining 3 million tonnes are imported as refined.

Saudi Aramco, officially the Saudi Arabian Oil Company, is the Saudi Arabian national petroleum and natural gas company based in Dhahran. It is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world.