Eastern Lubricants Blenders Limited
AbbreviationELBL
Formation1963
TypeGovernment-owned limited company
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Key people
  • A. B. M. Azad (Chairperson)
  • Rashed Kawsar (Managing Director)
  • Ali Absar (Secretary)
Parent organization
Bangladesh Petroleum Corporation
Websiteelbl.portal.gov.bd
[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]

History

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]

References

  1. ↑ "Home Page". elbl.portal.gov.bd. Archived from the original on 2020-03-17. Retrieved 3 January 2022.
  2. ↑ "Board of Directors". elbl.portal.gov.bd. Archived from the original on 2020-03-16. Retrieved 3 January 2022.
  3. 1 2 "Eastern Lubricants Blenders Limited Company Profile - Bangladesh | Contacts & Key Executives | EMIS". www.emis.com. Retrieved 2022-01-03.
  4. ↑ https://www.dsebd.org/displayCompany.php?name=EASTRNLUB
  5. ↑ Wadhva, Charan D.; Asher, Mukul G. (1985). ASEAN-South Asia Economic Relations. Institute of Southeast Asian Studies. p. 256. ISBN 978-9971-902-98-8.
  6. 1 2 "Yearly report 2019-2020" (PDF). elbl.portal.gov.bd. Archived (PDF) from the original on 2022-01-03. Retrieved 3 January 2021.
  7. ↑ Hafeez, Saeed (1969). Industrial Reference Guide. Press Corporation of Pakistan. p. 51.
  8. 1 2 3 4 "Eastern Lubricant profit jumps for low-cost base oil imports". The Business Standard. 2021-12-26. Retrieved 2022-01-03.
  9. ↑ "Govt to offload shares in 9 firms next year". The Daily Star. 2007-12-01. Retrieved 2022-01-03.
  10. ↑ "The Daily Star Web Edition Vol. 4 Num 293". The Daily Star. Retrieved 2022-01-03.
  11. ↑ "24 listed firms down a notch". The Daily Star. 2009-12-30. Retrieved 2022-01-03.
  12. ↑ Chowdhury, Sarwar A. (2015-12-22). "Japan's Yuasa batteries to make Bangladesh debut in Jan". The Daily Star. Retrieved 2022-01-03.
  13. ↑ "Eastern Lubricants to sell bitumen to BPC". The Daily Star. 2019-07-08. Retrieved 2022-01-03.


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