During Independence of Bangladesh in 1971, the government of Bangladesh renamed the PNOL (Pakistan National Oil Limited) to Bangladesh National Oil Limited and later government renamed it to Jamuna Oil Company Limited (also known as “JOCL” as its short form). It registered itself as a private limited company in 1975. Since 1977, it is functioning as a fully owned subsidiary of Bangladesh Petroleum Company Ltd. During 1986, Jamuna Oil acquired the assets and liabilities of Indo Burmah Petroleum Company and hence almost doubled its size. In 2007 it converted itself into a Public limited company and in 2008 went for Public offering by issuing an IPO and got itself listed on DSE (Dhaka Stock Exchange) and CSE (Chittagong Stock Exchange).
Jamuna Oil Company Limited’s corporate office is at Chittagong and has 4 divisional offices at Dhaka, Chittagong, Khulna and Bogra. It has 16 up country depots in all part of the country. Company’s major business is to procure, store, distribute and market Petroleum Products, Lubricating Oils, Greases, Bitumen and LPG in the country. Its major objective is to ensure smooth supply of petroleum products in the country with excellent customer service. Company has ensured effective cost control and profitability with efficient management system and taking care of its 519 employees at present.
Company has 14 different types of petroleum products marketed under its umbrella. They are:
- HOBC (High Octane Blending Component)
- MS (Petrol)
- SKO (Superior Kerosene Oil)
- HSD (High Speed Diesel)
- LDO (Light Diesel Oil)
- FO (Fuel Oil)
- LUB (Lubricating Oil)
Out of total 1.4 Million MT Of sales around 1.1 Million MT of sales is of HSD (High Speed Diesel) while it sells 1.7 lac MT of Fuel Oil. This constitutes around 90% of the total sales of petroleum products by the company. Company has established two joint venture agreements with Mobil Asia Pacific Limited. One agreement with Mobil is for Blending of Lubricating oil and other is for LPG Bottling Plant to ramp up the capacity. Name of the companies in this projects are Mobil Jamuna Lubricants Limited (MJLL) and Mobil Jamuna Fuel Limited (MJFL).
To ensure better supply, Jamuna Oil has developed a sound distribution network throughout the country. Currently it has around 1,35,000 Metric Ton storage capacity of petroleum products at its 14 storage depots. Product from ERL and LPG plant along with imported products are marketed from here. To distribute products all over the country company has 421 Filling Stations, 713 Distribution Points, 182 Packed Point Dealers. Company has 792 LPG dealers for distribution of gas cylinders to households in the country. It sources LPG from LP Gas Limited in Chittagong at Kailashtila Project Sylhet. Company also delivers its product directly to Power plants and Industries for their production requirement.
Company’s total sales have grown from Tk. 3728 Crore to Tk. 7796 Crore. Its net profit grew to Tk. 101 Crore in 2011 from Tk. 14 Crore in 2006. Today company is a dividend paying company since last 6 years and is very well regarded in corporate world of Bangladesh. Company is fulfilling all its legal liabilities as per the government of Bangladesh and functions according to the directives from BPC (Bangladesh Petroleum Corporation).
Jamuna Oil Company Limited enlisted in Dhaka Stock Exchange (DSEBD) on 2007. It’s been rated as “A” category share under the fuel and power sector as on 20-07-2013.
Contact information of Jamuna Oil Company Limited:
Address: Jamuna Bhaban, Agrabad C/A, P.O Box-694
Phone: 720181-3, 2520134-9, 2520408