Bangladesh Petroleum Corporation (BPC):

01.00 HISTORICAL BACKGROUND:

01. Of all Bangladeshi Oil Marketing Companies, Padma Oil Company Limited is not only the biggest but also the oldest with its antecedents switching well back to the colonial period of British-India. Its enterprise Rangoon Oil Company" established petroleum business in this part of the world by the middle of nineteenth century. Following is a synopsis of Padma Oil Companies historical background.

02. In 1871 'Rangoon Oil Company" was registered as a joint stock Company in Scotland having its main business activities in Burma ( known to the British until the later years of the l9th century as Burmah, which was a province of the then British India.

03. In 1885, Rangoon Oil Company reconstituted and reformed as Burmah Oil Co. Business of this company was then spread over the provinces of British India including Assam and Bengal. The Company's head Office was at 191, West George Street. Glasgow, UK.

04. Burmah Oil Company for the first time introduced drilling equipment for exploration of Oil in Burma in the year 1888. Previously Oil was being collected in Burma by hand dug well.

05. Burmah Oil Co. established their" Moheshkhal Oil Installation" at Chittagong (in Gosaildanga thana) in the year 1903.

06. In 1908 Burmah Oil Co. conducted a geological survey in Chittagong.

07. In 1914, Burmah Oil Company drilled a well at Sitakunda, Chiltagong.

08. In the year 1920 M/s. Bullock Brothers a major distributor of Burmah Oil Company established their trading office at Sadarghat. Chittagong.

09. In the year 1929, Burmah Oil Company took over the Office of Bullock Brothers at Sadarghat including 4.1 acres of land and established their own office in it.

10. Prior to the partition of the Sub-continent in 1947, mainly two oil marketing companies namely Burmah Oil Company (BOC) and Burmah Shell Oil Storage and Distribution Company (BSOC) were operating Petroleum business in the area what now comprises Bangladesh. Burmah Shell established Aviation Depot at Tejgaon Airport in the year 1948.

11. Considering the Oil Marketing situation in the East Pakistan, Burmah Shell transferred their share to BOC and in the year 1965 and a new company called Burmah Eastern Limited was formed with 49% share of BOC.

12. In 1977, Burmah Pastern Limited became a subsidiary of Bangladesh Petroleum Corporation (BPC).

13. In the year 1985 BOC transferred its entire properly in Bangladesh (including
share of Burmah Eastern Limited) in favor of Bangladesh Petroleum Corporation (BPC).

14. As per term of tie transfer of BOC's entire share to BPO, Burmah Eastern limited 'vas required to change its name and as such subsequently the Company's name was changed as" PADMA OIL COMPANY LIMITED"
in September 1988.

02.00 STATUS OF PADMA OIL COMPANY LIMITED:

01. Padma Oil Company Limited was incorporated as Public Limited
Company on 27th April, 1965 under the name and style of Burmah Eastern
Limited having its registered office at Chittagong. Although Padma Oil
Company Limited is one of the three subsidiary marketing companies of
BPC its status is unique and clearly different from the remaining two. The
features that distinguished POCL from other companies are the following:

a) Unlike other two marketing companies Padma Oil Company
Limited, has share holdings of both Public & Private Sectors.

b) POCL's share is enlisted with both the stock exchanges of the country.

02. Authorized Capital :
1,00,00,000 ordinary shares of Tk. 10 each.......... Tk. 10,00,00,000

Paid up Capital :
49,00,000 ordinary shares of Tk.10 each...............Tk. 4,90,00,000

03. Share-holding partner of the Company stands as at 30.6.2001 as follows:

	Percentage (%)	Amount in Thousand TK
Bangladesh Petroleum Corporation	50.53	24,669
ICR Units & Mutual Fund	6.76	3312
Financial & Private Institution	14.03	6876
Individuals	11.03	5408
Jiban Bima Corporation	6.63	3,248
Investment Corporation of Bangladesh	10.00	4,899
Sadharan Bima Corporation	1.20	588

03.00 ORGANIZATIONAL GOALS:

01 To ensure steady supplies of POL products and others commodities of company's marketing list to the door-steps of consumers in the best possible way and cost-effective manner.

02. To maintain the process attaining excellence for the time honored management system set by the predecessors who were to pioneers of oil industry in this part of the world.

03. To ensure reasonable dividend for the investors and safeguard the interest of the consumers as well.

04. To create efficient manpower for country's Oil industry.

05. To keep up high standard of morality and values among all cross section of employees by ensuring reasonable remuneration for maintaining good standard of living.

04.00 NATURE OF BUSINESS:

01. POCL is basically an Oil Marketing Company dealing in Petroleum
Products. However, the company has diversified its business n
Agrochemical field also- In Country's perspective Padma Oil Company
Limited is to biggest Petroleum Trading Company while in the field of
Country's Agrochemical market its position is the second. The company
has its own Agrochemical Formulation Plant at Main Installation,
Guptakhal, Chittagong.

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