China Nationwide Petroleum Corp. (CNPC) has put into operation what it calls the primary mega sea-land oil storage and transportation facility in Bangladesh.
The ability serves the Japanese Refinery of Bangladesh Petroleum Corp. (BPC) by means of a pipeline that carries each crude oil and refined petroleum merchandise, CNPC mentioned in a information launch.
“Connecting the tank farm and the refinery, the pipeline is part of the dual-channel Single Level Mooring system constructed by China Petroleum Pipeline Engineering, a subsidiary of CNPC”, the press launch acknowledged. “This marks the launch of Bangladesh’s first sea-land built-in super-large oil storage and transportation system”.
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CNPC added, “The completion of the challenge marks the top of oil transport by barge, shortening the oil unloading and transportation time from 11 days to about 48 hours for 100,000-ton oil tankers, and offering a stable assure for increasing ERL’s [Eastern Refinery Ltd.] processing capability from 1.5 MTPA to 4.5 MTPA”.
ERL Deputy Basic Supervisor Md Sharif Hasnat was quoted as saying within the CNPC announcement, “This challenge can have a big impact on our vitality manufacturing”.
“When it comes to oil unloading, our earlier method was inefficient and expensive.
“With the introduction of the sea-land built-in oil storage and transportation system, fashionable oil transportation services will make our vitality manufacturing extra environment friendly and create extra alternatives to develop ERL’s manufacturing capability”.
CNPC famous the challenge had created practically 4,000 jobs throughout development, in addition to “nurtured many excellent technical skills for the native communities”.
State-owned CNPC known as the challenge a serious achievement within the vitality cooperation between China and Bangladesh underneath President Xi Jinping’s international “Belt and Street” infrastructure funding initiative.
It marks a step towards Bangladesh Imaginative and prescient 2041, the corporate mentioned. The South Asian nation’s improvement roadmap envisions an vitality and energy trade that meets the demand of a high-income financial system, together with by “creating the required infrastructure for main gasoline”, as acknowledged within the imaginative and prescient textual content.
“Moreover, PP2041 [Perspective Plan/Vision 2041] will considerably develop the home oil refining capability and can give attention to putting in petroleum pipeline all through the nation to make sure fast and simple provide of oil to the demand level together with enough security measures to guard the setting”, says Imaginative and prescient 2041.
Earlier a BPC official instructed S&P World Commodity Insights that the state-run gasoline manufacturing and distribution firm plans to chop its imports of refined merchandise this yr by 15.34 p.c to about 6.51 million metric tons. As a substitute, BPC expects to lift crude imports by 7.14 p.c to 1.5 million metric tons.
“In response to the BPC official, the corporate has been importing extra crude oil because of a newly opened single-point mooring facility that may retailer a big quantity of the feedstock, earlier than it’s processed on the Japanese Refinery in Chattogram, Bangladesh’s sole refinery”, S&P mentioned in a report February 16, not naming the official.
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