Padma Oil to market Total Lubricants
Improve performance or face privatisation
State minister warns three BPC companies]
Star Business Report
"Improve performance or face privatisation," State Minister for Energy and Mineral Resources AKM Mosharraf Hossain warned the three subsidiary distribution companies under Bangladesh Petroleum Corporation (BPC)."There are widespread allegations of adulteration in fuel oil and deceiving the customers with wrong measurement," Mosharraf told high officials of Padma, Meghna and Jamuna oil companies. The state minister was speaking at the launching of Total Lubricants in Bangladesh by Padma Oil Company Limited, a subsidiary of the BPC, at Pan Pacific Sonargaon Hotel on Tuesday evening. Mosharraf said sale of kerosene has decreased significantly after turning kerosene into blue to check adulteration. "This proved that dishonest traders used to mix kerosene with petrol," said Mosharraf. Commerce Minster Amir Khosru Mahmud Chowdhury was present as chief guest at the launching ceremony. Padma Oil Company Limited General Manager A Jamal Khan Choudhury, Trade Services International (TSI) Managing Director Syed Mahmudul Huq and Total Oil Singapore Regional Director Norbert Fruythof were also present. The commerce minister hoped besides marketing of oil, Total Lubricants will go for setting up a blending factory in future, which will bring investment. According to Norbert Fruythof, the company produces lube oil suitable for all types of vehicles and also for transmission system, break system and gear box. The lube can also be used in turbine, compressor, machine tools, hydraulic or mechanical transmission gear, textile machine, metal working and food industries, he said. Fruythof said they have chosen Padma Oil Company Limited for marketing Total Lubricants in Bangladesh as it is the largest fuel oil marketing company in the country having 20 depots and 408 filling stations. France-based Total Oil company is the 4th largest oil company in the world. Its turnover was 102.5 billion euros in 2002. The company has been marketing liquefied petroleum gas (LPG) of 'Totalgaz' brand for using in domestic purposes in Bangladesh since last year. The two other multinational oil companies -- Mobil and British Petroleum (BP) -- are already in Bangladesh market.
|