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IOCL and Bangladesh ink MoU to supply emergency petroleum products

A Memorandum of Understanding (MoU) for the emergency delivery of petroleum products via Bangladeshi territory to India was signed by the Indian Oil Corporation Limited (IOCL) and the Bangladesh Roads and Highways department in Dhaka. The Indian High Commission stated in a tweet that this is an interim setup to help with the urgent supply of petroleum products due to damage caused by the flood in Assam this year.

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Oil tankers will enter from Meghalaya and travel into Bangladeshi territory on their way to Tripura. For use of Bangladeshi land, the IOCL shall be responsible for paying all administrative costs, fees, and local taxes, including the road usage fee. The MoU was signed to permit Indian cars to transfer petroleum from Assam to Tripura by road, which has been badly affected as a result of the recent floods in Assam and Tripura, according to a statement from Bangladesh’s Ministry of Foreign Affairs (MoFA).

Important Takeaways For All Competitive Exams:

  • IOCL Chairman: Shrikant Madhav Vaidya
  • Bangladesh’s Prime Minister: Sheikh Hasina Wazed
  • Bangladesh’s Capital: Dhaka

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