State-owned Bangladesh Petroleum Corporation (BPC) markets fuel oil in the country. Latest data show that BPC’s six subsidiary companies sold over 6.83 million tons of 15 types of fuel oil in FY 2024-25. Previously, in FY 2023-25, sales totaled 6.76 million tons. Over the one-year period, sales saw an increase of 74,021 tons, or 1.09 percent.

Padma Oil Company Limited led the market, selling nearly 2.62 million tons, or 38.41 percent of total fuel oil in the concluded fiscal year. Meghna Petroleum Limited secured the second position with 2.38 million tons, or 34.88 percent. Together, these two companies accounted for 73.26 percent of BPC’s total fuel oil sales. Padma Oil remains at the top overall due to holding the sole license for jet fuel sales.

Jamuna Oil Company Limited ranked third, selling 1.71 million tons, or 25.11 percent. Standard Asiatic Oil Company Limited (SAOCL) sold 100,000 tons, while LP Gas Limited and Eastern Lubricants Blenders PLC reported minimal sales.

According to BPC data, Padma Oil sold 2.62 million tons in FY 2024-25, up from 2.59 million tons the previous fiscal year — an increase of 32,479 tons. Padma Oil’s Managing Director, Md Mofizur Rahman, told Bonik Barta, “Over the past few years, Padma Oil has increased its share in BPC’s fuel oil sales. That is why sales rose in the concluded fiscal year. The same trend is visible in the current fiscal year.” He also noted that higher sales are reducing the company’s operational losses.

Four years ago, Meghna Petroleum had been the sole leader in fuel oil sales. In FY 2024-25, the company sold 2.38 million tons, up from 2.37 million tons the previous fiscal year. In total, Meghna Petroleum saw an increase of 13,643 tons in fuel oil sales.

Jamuna Oil sold nearly 1.71 million tons in FY 2024-25, up from 1.68 million tons the year prior, marking a total increase of 27,128 tons.

Standard Asiatic Oil Company Limited (SAOCL) sold 100,265 tons of fuel oil in the concluded fiscal year, a decrease of 619 tons compared with FY 2023-24. LP Gas Limited sold 2,652 tons of fuel oil, while Eastern Lubricants Blenders PLC sold only 6,877 tons of bitumen.

According to BPC data, its companies sold over 6.83 million tons of fuel oil in FY 2024-25, broken down as follows: diesel 4.35 million tons, furnace oil 878,088 tons, petrol 462,475 tons, octane 415,653 tons, jet fuel 547,804 tons, kerosene 67,477 tons, bitumen 57,995 tons, lubricating oil 13,296 tons, marine fuel 9,626 tons, LPG 19,479 tons, JBO 8,897 tons, grease 124 tons, SBP 2,006 tons, MTT 2,065 tons, and LDO 280 tons.

Diesel sales of 4.35 million tons were distributed among four companies: Meghna Petroleum sold the most at 1.68 million tons, followed by Padma Oil with 1.44 million tons, Jamuna Oil with 1.25 million tons, and SAOCL with 19,761 tons.

Octane sales totaled 415,653 tons, with Padma selling 148,962 tons, Meghna 158,472 tons, and Jamuna 108,219 tons. Petrol sales reached 462,475 tons, with Padma at 169,975 tons, Meghna at 159,529 tons, and Jamuna Oil at 134,971 tons.

Furnace oil sales amounted to 878,088 tons: Meghna sold 326,199 tons, Padma 260,674 tons, Jamuna 225,243 tons, and SAOCL 65,972 tons. The entire 547,804 tons of jet fuel sold went through Padma Oil.

Eight years ago, SAOCL sold nearly 270,000 tons of fuel oil, but sales fell to 100,265 tons in the recently concluded FY 2024-25. CEO Ferdousi Masum Himel told Bonik Barta, “In 2017-18 fiscal year, sales were mostly on credit. At that time, diesel and furnace oil from SAOCL were in demand at power plants. Now, with credit sales stopped and many power plants closed, sales have declined.”