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]
| 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] | |
History edit
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 edit
- ^ "Home Page". elbl.portal.gov.bd. Archived from the original on 2020-03-17. Retrieved 3 January 2022.
- ^ "Board of Directors". elbl.portal.gov.bd. Archived from the original on 2020-03-16. Retrieved 3 January 2022.
- ^ a b "Eastern Lubricants Blenders Limited Company Profile - Bangladesh | Contacts & Key Executives | EMIS". www.emis.com. Retrieved 2022-01-03.
- ^ https://www.dsebd.org/displayCompany.php?name=EASTRNLUB
- ^ 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.
- ^ a b "Yearly report 2019-2020" (PDF). elbl.portal.gov.bd. Archived (PDF) from the original on 2022-01-03. Retrieved 3 January 2021.
- ^ Hafeez, Saeed (1969). Industrial Reference Guide. Press Corporation of Pakistan. p. 51.
- ^ a b c d "Eastern Lubricant profit jumps for low-cost base oil imports". The Business Standard. 2021-12-26. Retrieved 2022-01-03.
- ^ "Govt to offload shares in 9 firms next year". The Daily Star. 2007-12-01. Retrieved 2022-01-03.
- ^ "The Daily Star Web Edition Vol. 4 Num 293". The Daily Star. Retrieved 2022-01-03.
- ^ "24 listed firms down a notch". The Daily Star. 2009-12-30. Retrieved 2022-01-03.
- ^ Chowdhury, Sarwar A. (2015-12-22). "Japan's Yuasa batteries to make Bangladesh debut in Jan". The Daily Star. Retrieved 2022-01-03.
- ^ "Eastern Lubricants to sell bitumen to BPC". The Daily Star. 2019-07-08. Retrieved 2022-01-03.
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