BPC’s profit in 2024-25 fiscal year despite fuel price hike: CPD

Bangladesh Petroleum Corporation (BPC) has earned Tk 2.5 billion in the fiscal year 2024-25 due to the increase in fuel prices under the automatic pricing system, according to the Center for Policy Dialogue (CPD), a private research organization.

The CPD made this information at a meeting titled ‘Power and Energy Sector in the National Budget for Fiscal Year 2025-26: Reflection of Energy Transformation Priorities’ organized at the BRAC Center in the capital today (June 26).

However, due to recent geopolitical instability, including Israel-Iran tensions in the Middle East, oil prices have increased in the international market. As a result, BPC’s profit in the next fiscal year will fall to Tk 6.15 billion, CPD has predicted.

At the event, several sector experts spoke, including CAB’s (Consumers Association of Bangladesh) energy advisor M Shamsul Alam and Dr. Khondaker Golam Moazzem, research director at the Centre for Policy Dialogue (CPD).

CPD reported that, in addition to BPC (Bangladesh Petroleum Corporation), two other Petrobangla subsidiaries — BAPEX (Bangladesh Petroleum Exploration and Production Company Limited) and RPGCL (Rupantarita Prakritik Gas Company Limited) — have also made profits in the 2024–25 fiscal year.

According to the think tank’s calculations, BAPEX earned a profit of Tk 137 crore, while RPGCL made Tk 41 crore. This profit came as a result of increased gas prices in the industrial sector.

CPD forecasts that in the 2025–26 fiscal year, BAPEX’s profit may rise to Tk 258 crore and RPGCL’s to Tk 49 crore. This growth is attributed to the waiver of VAT on LNG imports and the possibility of further gas price hikes.

On the other hand, the Bangladesh Power Development Board (BPDB) is facing massive losses. CPD stated that BPDB incurred a loss of Tk 8,803 crore in the 2024–25 fiscal year, and this could rise to Tk 9,043 crore in the next fiscal year.