Standard Asiatic Oil Company Limited

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Standard Asiatic Oil Company Limited
Formation1965
HeadquartersChittagong, Bangladesh
Official language
Bengali
Parent organization
Bangladesh Petroleum Corporation
Websitesaocl.gov.bd

Standard Asiatic Oil Company Limited (Bengali: স্ট্যান্ডার্ড এশিয়াটিক অয়েল কোম্পানী লিমিটেড) is a Bangladeshi government owned oil company under Bangladesh Petroleum Corporation.[1] The company sells several grade lubricant, bitumen, diesel oil, furnace Oil, and LP gas.[2]

History

Standard Asiatic Oil Company Limited was established in 1965 as a joint venture of Asiatic Industries Limited and Esso.[3] After the Independence of Bangladesh in 1972, Esso left the company and their shares were taken over by the government of Bangladesh.[3] The shares of Esso given to Bangladesh Petroleum Corporation, under the Ministry of Power, Energy and Mineral Resources, which now owns 50 per cent of Standard Asiatic Oil Company Limited.[3][4] Only Standard Asiatic Oil and Eastern Refinery Limited store oil condensate in Bangladesh.[5]

References

  1. ↑ "Fuel sales jumped just before price hike". The Daily Star. 2021-11-07. Retrieved 2022-11-30.
  2. ↑ "Company Profile". saocl.gov.bd. Retrieved 2022-11-30.
  3. ↑ 3.0 3.1 3.2 "Background". saocl.gov.bd. Retrieved 2022-11-30.
  4. ↑ "BPC records up to 50% spike in oil sales just before hike of prices". The Daily Star. 2021-11-06. Retrieved 2022-11-30.
  5. ↑ "Pvt refineries to get condensate on condition of clean energy". The Business Standard. 2021-08-28. Retrieved 2022-11-30.
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