The state-run Bangladesh Petroleum Corporation (BPC) has taken an initiative to export 18,000 tonnes of naphtha to international buyers as supply has outpaced local demands.
The Corporation has floated an international tender to export around 165,000 barrels of heavy naphtha from the Chattogram port, said a senior BPC official.
The naphtha will be exported as free on board (FOB), meaning that the importers would have to take the delivery from the Chattogram port.
The corporation would not have any responsibility to transport the product to the buyers' end.
The BPC usually gets naphtha as a by-product from the Eastern Refinery Ltd., a wholly-owned subsidiary of the BPC, and sell it to privately owned petrochemical companies.
But due to low domestic demand, the state-run corporation has decided to export naphtha, said the official.
The bid submission deadline is January 13. Delivery of naphtha to the bid winner will take place during February 07-09. Previously, the BPC had exported around 170,000 barrels of naphtha until 2017.
