Eastern Lubricants Blenders Limited Explained

Eastern Lubricants Blenders Limited
Formation:1963
Abbreviation:ELBL
Type:Government-owned limited company
Headquarters:Dhaka, Bangladesh
Language:Bengali
Parent Organization:Bangladesh Petroleum Corporation
Region Served:Bangladesh
Key People:
  • A. B. M. Azad (Chairperson)
  • Mohammad Shahidul Alam (Managing Director)
  • Abu Mohammad Saifuddin (Secretary)
Footnotes:[1] [2]

Eastern Lubricants Blenders Limited 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.[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.[10]

In 2004, the company declared 25 percent dividends.[11]

In 2009, the company shares were moved from A category to B category.[12]

In 2015, Eastern Lubricants Blenders Limited became the official distributors of GS Yuasa International, a Japanese company, in Bangladesh.[13]

Eastern Lubricants Blenders Limited signed an agreement in July 2019 to sell bitumen to Bangladesh Petroleum Corporation.[14]

The company's profit increased in 2021 due to a decline in global oil prices. It sells oil to its three sister companies, Jamuna Oil, Meghna Petroleum, and Padma Oil.[15] It signed an agreement with KB Petrochemicals Limited, a joint venture of Sena Kalyan Sangstha.[16]

Notes and References

  1. Web site: Home Page. live. 3 January 2022. elbl.portal.gov.bd. https://web.archive.org/web/20200317022742/https://elbl.portal.gov.bd/ . 2020-03-17 .
  2. Web site: Board of Directors. live. 3 January 2022. elbl.portal.gov.bd. https://web.archive.org/web/20200316071609/https://elbl.portal.gov.bd/site/page/1be23526-5f73-4df6-9223-ec59b6ce1d6e . 2020-03-16 .
  3. Web site: Eastern Lubricants Blenders Limited Company Profile - Bangladesh Contacts & Key Executives EMIS. 2022-01-03. www.emis.com.
  4. https://www.dsebd.org/displayCompany.php?name=EASTRNLUB
  5. Book: Wadhva. Charan D.. ASEAN-South Asia Economic Relations. Asher. Mukul G.. 1985. Institute of Southeast Asian Studies. 978-9971-902-98-8. 256. en.
  6. Web site: Yearly report 2019-2020. live. 3 January 2021. elbl.portal.gov.bd. https://web.archive.org/web/20220103080628/https://elbl.portal.gov.bd/sites/default/files/files/elbl.portal.gov.bd/annual_reports/d61394bd_6fea_4d45_b5e6_f5647150cc5d/2021-02-27-19-59-9f8592b25f13fc0de0882e3deeb27cff.pdf . 2022-01-03 .
  7. Book: Hafeez, Saeed. Industrial Reference Guide. 1969. Press Corporation of Pakistan. 51. en.
  8. News: 2021-12-26. Eastern Lubricant profit jumps for low-cost base oil imports. 2022-01-03. The Business Standard. en.
  9. News: 2007-12-01. Govt to offload shares in 9 firms next year. 2022-01-03. The Daily Star. en.
  10. Web site: Yearly report 2019-2020. live. 3 January 2021. elbl.portal.gov.bd. https://web.archive.org/web/20220103080628/https://elbl.portal.gov.bd/sites/default/files/files/elbl.portal.gov.bd/annual_reports/d61394bd_6fea_4d45_b5e6_f5647150cc5d/2021-02-27-19-59-9f8592b25f13fc0de0882e3deeb27cff.pdf . 2022-01-03 .
  11. News: The Daily Star Web Edition Vol. 4 Num 293. 2022-01-03. The Daily Star.
  12. News: 2009-12-30. 24 listed firms down a notch. 2022-01-03. The Daily Star. en.
  13. News: Chowdhury. Sarwar A.. 2015-12-22. Japan's Yuasa batteries to make Bangladesh debut in Jan. 2022-01-03. The Daily Star. en.
  14. News: 2019-07-08. Eastern Lubricants to sell bitumen to BPC. 2022-01-03. The Daily Star. en.
  15. News: 2021-12-26. Eastern Lubricant profit jumps for low-cost base oil imports. 2022-01-03. The Business Standard. en.
  16. News: 2021-12-26. Eastern Lubricant profit jumps for low-cost base oil imports. 2022-01-03. The Business Standard. en.

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