Padma Oil Company
The Padma Oil Company Limited (Bengali: পদ্মা অয়েল কোম্পানী লিমিটেড) formerly known as Burmah Eastern Limited, is a subsidiary of Bangladesh Petroleum Corporation (BPC), a statutory organization of the government under the Ministry of Power, Energy, and Mineral Resources (Bengali: বিদ্যুৎ, জ্বালানি ও খনিজ সম্পদ মন্ত্রণালয়). It is registered with the joint-stock company as a public limited company under the Company Act 1913. The company's vision is to ensure energy security in Bangladesh through the uninterrupted supply of Petroleum products at prices fixed by the government. Additionally, Padma Oil Company seeks to increase the supply of environmentally-friendly Agrochemical products to stimulate agricultural production nationwide. The company's head office is located on Strand Road in Chittagong, officially known as Chattogram.
| Type | Registrar with joint stock company as a Public limited company under Company Act 1913 |
|---|---|
| Industry | Petroleum |
| Predecessor | Burmah Oil Company |
| Founded | April 27, 1965 |
| Headquarters | , |
Area served | National |
| Products | Marketing of Petroleum product, Lubricant, Grease, Bitumen, Liquefied petroleum gas & Manufacturing & Marketing of Agrochemical |
| Parent | Bangladesh Petroleum Corporation |
| Website | pocl |
History
Padma Oil Company Limited (POCL) is the largest and oldest oil company in Bangladesh, with its ancestor companies dating back to British-India's colonial period. Its ancestral enterprise, Burmah Oil Company, formerly Rangoon Oil Company in the British Empire, was established in the middle of the nineteenth century. In 1874, the Rangoon Oil Company was registered as a joint-stock company in Scotland. In 1885, the Rangoon Oil Company was reconstituted and reformed as Burmah Oil Company. Burmah Oil Company established its Maheshkhali oil installation plant at Chittagong in the year 1903. In 1914, Burmah Oil Company drilled a well at Sitakunda, Chittagong. Six years later, in the year 1920, M/s Bullock Brothers, a major distributor of Burmah Oil Company, established their trading office at Strand Road, Sadarghat, Chittagong, which was taken over by Burmah Oil Company in 1929 to become their main office.
Before the partition of the sub-continent in 1947, two oil marketing companies, Burmah Oil Company (BOC) and Burmah Shell Oil Storage and Distribution Company (BSOC), operated in Bangladesh. Burmah Shell established an aviation depot at Tejgaon Airport in the year 1948. In 1965, Burmah Shell transferred their share from BOC, and a new company called Burmah Eastern Limited was formed. After the Bangladesh Liberation War, Burmah Eastern Limited became a subsidiary of Bangladesh Petroleum Corporation (BPC) in 1977. In 1985, BOC transferred its entire property in Bangladesh (including Burmah Eastern Limited) in favor of BPC. As per terms of the transfer of BOC's whole share to BPC, Burmah Eastern Limited was required to change its name to Padma Oil Company Limited after the Padma River in 1988. Today, the company is one of the largest distributors of petroleum products in Bangladesh and is listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange.[1]
Products
Padma Oil Company markets Gasoline Petrol (MS) and Octane (HOBC), Diesel fuel Diesel (HSD), Kerosene (SKO), Furnace Oil (HSFO), Jute Batching Oil (JBO), Special Boiling Point (SBP), MTT (Mineral Turpentine), Aviation Fuel (Jet A1), Agrochemical (pesticides and fertilizers), Liquefied petroleum gas, Asphalt Bitumen, Lubricant (PADMA & TOTAL brand) through dealers, agents, packed point dealers, barge dealers and lube dealers in Bangladesh.
Operation and distribution
POCL has a vast depot network to ensure an adequate supply of fuels and agrochemicals throughout the country. The central installation of the company is situated at Gupthakhal, Patenga, and Chittagong. To ensure uninterrupted fuel supply, POCL has 17 oil depots (Godenail, Daulatpur, Bhaghabari, Chandpur, Parbatipur, Natore, Rajshahi Rail Siding, Jhalakati, Barisal Barge, Sylhet, Srimangal, Brahmanbaria, Ashuganj, Bhairab Bazar Barge, Rangpur, Kurmitola Aviation, and Chattogram Airport Depot) in and all over Bangladesh.[2]