Abbreviation | ELBL |
---|---|
Formation | 1963 |
Type | Government-owned limited company |
Headquarters | Dhaka, Bangladesh |
Region served | Bangladesh |
Official language | Bengali |
Key people |
(Secretary) |
Parent organization | Bangladesh Petroleum Corporation |
Website |
elbl |
[1] [2] |
Eastern Lubricants Blenders Limited ( Bengali: ইস্টার্ন লুব্রিকেন্ট ব্লেন্ডার লিমিটেড) is a subsidiary of the government-owned Bangladesh Petroleum Corporation. [3] This organization is listed on the Dhaka Stock Exchange in 1976 and traded as EASTRNLUB. [4]
The company had officially started operations in 1960. [5] Eastern Lubricants Blenders Limited started production in 1963 as the East Pakistan Lubricants Blenders Limited in Chittagong; it was owned by Burmah Oil Company. [3] [6] By 1969, it was one of three lubricant companies in East Pakistan. [7]
Since the Independence of Bangladesh in 1971, Eastern Lubricants Blenders Limited had a monopoly position till the early 2000s when other lubricant companies where allowed to operate in the market. [8] 12 percent of the shares of the Eastern Lubricants Blenders Limited are listed on the stock exchange. [9]
In 1977, the Eastern Lubricants Blenders Limited became a subsidiary of Bangladesh Petroleum Corporation. [6]
In 2004, the company declared 25 percent dividends. [10]
In 2009, the company shares were moved from A category to B category. [11]
In 2015, Eastern Lubricants Blenders Limited became the official distributors of GS Yuasa International, a Japanese company, in Bangladesh. [12]
Eastern Lubricants Blenders Limited signed an agreement in July 2019 to sell bitumen to Bangladesh Petroleum Corporation. [13]
The company's profit increased in 2021 due to a decline in global oil prices. [8] It sells oil to its three sister companies, Jamuna Oil, Meghna Petroleum, and Padma Oil. [8] It signed an agreement with KB Petrochemicals Limited, a joint venture of Sena Kalyan Sangstha. [8]