Jamuna Oil Company Ltd (JOCL) (estd. as Pakistan National Oil in 1964; renamed as Bangladesh National Oil in 1972) ( DSEbr>JOCL
is a subsidiary of the

Bangladesh Petroleum Corporation Bangladesh Petroleum Corporation () (BPC) is a government agency in Bangladesh to import, distribute and market oil and petroleum products. A. B. M. Azad is the chairperson of Bangladesh Petroleum Corporation. History Founded in 1976 by Presi ...

that nationally markets

octane Octane is a hydrocarbon and an alkane with the chemical formula , and the condensed structural formula . Octane has many structural isomers that differ by the amount and location of branching in the carbon chain. One of these isomers, 2,2,4-Tri ...

petrol Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines (also known as petrol engines). It consists mostly of organic co ...

diesel Diesel may refer to: * Diesel engine, an internal combustion engine where ignition is caused by compression * Diesel fuel, a liquid fuel used in diesel engines * Diesel locomotive, a railway locomotive in which the prime mover is a diesel engin ...

kerosene Kerosene, paraffin, or lamp oil is a combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in aviation as well as households. Its name derives from el, κηρός (''keros'') meaning "wax", and was regi ...

, furnace oil,

bitumen Asphalt, also known as bitumen (, ), is a sticky, black, highly viscous liquid or semi-solid form of petroleum. It may be found in natural deposits or may be a refined product, and is classed as a pitch. Before the 20th century, the term a ...

and

lubricants A lubricant (sometimes shortened to lube) is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, t ...

in Bangladesh. In 1975, it was renamed Jamuna Oil Company (JOCL) after the river Jamuna. It is headquartered in

Chittagong Chittagong ( /ˈtʃɪt əˌɡɒŋ/ ''chit-uh-gong''; ctg, চিটাং; bn, চিটাগং), officially Chattogram ( bn, চট্টগ্রাম), is the second-largest city in Bangladesh after Dhaka and third largest city in B ...

Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mos ...

History

In 1964 Pakistan National Oil Limited (PNOL), the maiden

National oil company A national oil company (NOC) is an oil and gas company fully or in the majority-owned by a national government. According to the World Bank, NOCs accounted for 75% global oil production and controlled 90% of proven oil reserves in 2010. Due to thei ...

of the then Pakistan was established as a private limited company. The company started functioning with an authorized capital of Tk.2.00 crore. After the Independence of Bangladesh in 1971 the Government of the People's Republic of Bangladesh acquired the assets and liabilities of Pakistan National Oil Limited by virtue of Bangladesh Abandoned Property (control, Management & Disposal) Order, 1972 (P. O. No. 16 of 1972) and the company was renamed as Bangladesh National Oil Limited. The company has been finally renamed as Jamuna Oil Company Limited (JOCL) by the Government on 13 January 1973. At that time the company was operated by an adhoc committee called Oil Companies Advisory Committee (OCAC) under Petrobangla, constitute by the notification No. 21 m-4/76 (NR) dated 21-4-73, M/O. Natural Resources. Jamuna Oil Company Limited was registered with the registrar of Joint Stock Companies & Firms as fully Government owned Private Limited Company on 12 March 1975 under Companies Act 1913 with authorized capital of Tk. 10.00 crore and paid-up capital of Tk. 5.00 crore. Subsequently, in the year 1976 the assets and liabilities of the company were transferred & handed over to Bangladesh Petroleum Corporation (BPC) as per schedule stated in clause 31(c) of BPC Ordinance No. LXXXVIII (published in Bangladesh Gazette extra ordinary on 13 November 1976). Since then Jamuna Oil Company Limited has been functioning as a Subsidiary of BPC. On 1 January 1986 all assets and liabilities of Indo-Burmah Petroleum Company Limited (IBPCL) were transferred to the company. In 2005-2006 FY the paid-up capital of the company was increased to Tk. 10.00 crore from Tk. 5.00 crore by issuing of bonus share out of its profit. The company was converted into a Public Limited Company from a Private Limited Company on 25 June 2007 and its authorized capital was increased to Tk. 300.00 crore. On 10 August 2007 the paid-up capital of the company was increased to Tk.45.00 crore by issuing bonus share of Tk. 35.00 crore. The company was enlisted with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on 9 January 2008 with a view to off-load 1.35 crore shares of Tk.10.00 each under direct listing procedure and accordingly the shares of the company were off-loaded in the capital market.

Organization and structure

Jamuna Oil is managed by a

Board of Directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

, a team of 6 executives, all of them are nominated by the

Government of Bangladesh The Government of the People's Republic of Bangladesh ( bn, গণপ্রজাতন্ত্রী বাংলাদেশ সরকার — ) is the central executive government of Bangladesh. The government was constituted by the Con ...

. The board is responsible for over all decisions and top policy making body of the company.

General Manager A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of ...

, the

Chief Executive A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

of the company is appointed by

in addition to approval by the

Government A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...

. *The

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

is the

Joint Secretary Joint Secretary to Government of India (often abbreviated as JS, GoI or Union Joint Secretary or Joint Secretary to Union of India) is a post under the Central Staffing Scheme and the third highest non-political executive rank in Government of I ...

of (Energy & Mineral Resources Division) at the ''Ministry of Power, Energy & Mineral Resource'' of the Government of Bangladesh. *The

is the top official and executive from Jamuna Oil Company, at Chittagong of the Government of Bangladesh. *The First Director is a member of (Tax Admn. & Director National Board of Revenue, at Dhaka) of the Government of Bangladesh. *The Second Director is the

of ''Ministry of Commerce'', Dhaka, The Government of Bangladesh. *The Third Director is the

of ''Ministry of Finance'', Dhaka, The Government of Bangladesh. *The Fourth Director is the Deputy Secretary of ''Ministry of Power, Energy & Mineral Resource'', Dhaka, The Government of Bangladesh. In recent times, the board has added 2 more directors who are all nominated by the National Government.

Operations

335

filling station A filling station, also known as a gas station () or petrol station (), is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold in the 2010s were gasoline (or petrol) and diesel fuel. Gasoli ...

s, 573 Distributors Point and 153 Packed Paint Dealers. Besides, the Company delivers products directly to industries and Power Plants. Apart from that, Company has 732

Liquefied petroleum gas Liquefied petroleum gas (LPG or LP gas) is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, propylene, butylene, isobutane and n-butane. LPG is used as a fuel gas in heating appliances, cooking e ...

dealers and 83

pesticide Pesticides are substances that are meant to control pests. This includes herbicide, insecticide, nematicide, molluscicide, piscicide, avicide, rodenticide, bactericide, insect repellent, animal repellent, microbicide, fungicide, and lampri ...

dealers. Company gets supply of LPG from LP Gas Limited,

and Kailashtila Project,

Sylhet Sylhet ( bn, সিলেট) is a metropolitan city in northeastern Bangladesh. It is the administrative seat of the Sylhet Division. Located on the north bank of the Surma River at the eastern tip of Bengal, Sylhet has a subtropical climate an ...

. The present employee strength of the company is 591 which include 176 officers, 123 staff and 292 workers.

References

External links

{{Commons category, Jamuna Bhaban
Official Website
jamunaoil.gov.bd
Organization History
Oil and gas companies of Bangladesh Companies based in Chittagong Non-renewable resource companies established in 1964 1964 establishments in East Pakistan Companies listed on the Chittagong Stock Exchange