Bangladesh's sea-land oil storage, transportation system operational


  • World
  • Monday, 18 Mar 2024

DHAKA, March 17 (Xinhua) -- Bangladesh's first sea-land integrated oil storage and transportation system has been put into commercial operation.

The project started in 2019 and was completed in November 2023, with preferential loans provided by the Chinese government, financed by the Export-Import Bank of China and undertaken by China Petroleum Pipeline Engineering Co., Ltd.

The project will shorten oil unloading and transportation time for 100,000-ton oil tankers from 11 days to about 48 hours, saving the country 128 million U.S. dollars in crude oil transportation every year.

It will make unloading system more efficient and reduce cost, and it will be a modern environmental project, Md Sharif Hasnat, deputy general manager of Eastern Refinery Limited, told Xinhua, adding the project will have a positive impact on the economy, especially the energy sector.

Project manager Sun Bijun said that the project under the Belt and Road Initiative will greatly ease the current energy shortage in Bangladesh and become a new energy artery in the country.

The project has also provided 4,000 jobs, Sun said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Group who boarded ship off Somalia have departed, crew safe, UKMTO says
Singapore says investigators have data for flight hit by turbulence
Fallout from cyberattack at Ascension Hospitals persists, causing delays in patient care
These autonomous trucks could soon be taking to US highways
In Russia at war, kids swap classroom for shooting range
US prison social media crackdown plan raises free speech concerns
Greenpeace activists climb up building near TotalEnergies HQ ahead of shareholder meeting
Man shot dead by police in riot-hit New Caledonia - media
‘Normalised and invisible’: Online abuse targets Ethiopian women
TikTok, facing ban, makes it easier for creators to earn money

Others Also Read