Formation and History of Petrobangla

Bangladesh Minerals, Oil and Gas Corporation (BMOGC) was established pursuant to President’s Order No. 27 of 26 March, 1972 for dealing with the exploration and development of oil, gas, and mineral resources of the country. During the priod of the greatest Bengali of all time the architect of Bangladesh`s independence and Father of the Nation Bangabandhu Sheikh Mujibur Rahman the activities of the corporation relating to minerals were segregated and placed under a new organization named Bangladesh Mineral Exploration and Development Corporation (BMEDC), which was formed by President’s Order No. 120 of 27 September, 1972. Later, During the period of Father of the Nation Bangabandhu BMOGC was substituted as Bangladesh Oil and Gas Corporation (BOGC) and also short-named "Petrobangla" by Ordinance No. XV of 22 August, 1974. Through Act No. LXX of 28 November, 1974, Oil and Gas Development Corporation (OGDC) was established by Ordinance No. XXXVII of 1961 was repealed, and all its assets and liabilities were transferred to and vested in the BOGC (Petrobangla). On 13 November, 1976, by promulgation of Ordinance No. LXXXVIII, the import, refining, and marketing of crude oil and petroleum products were separated and vested in the newly formed Bangladesh Petroleum Corporation (BPC). BOGC and BMEDC were merged into a single entity under the name "Bangladesh Oil, Gas and Mineral Corporation (BOGMC)" by the Bangladesh Oil, Gas, and Mineral Corporation Ordinance, 1985 (Ordinance No. XXI of 11 April, 1985).

After independence, ensuring national energy security was one of the memorable and visionary activities undertaken by Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, for national progress. In just three and a half years of independence, through his political wisdom including the establishment of institutions for power and energy, on August 9, 1975, he purchased 5 gas fields, namely Titas, Habiganj, Rashidpur, Kailashtila and Bakhrabad from the then British oil company Shell Oil for only 4.5 million pounds sterling. The progress of Bangladesh's energy began since then. Following the path of development thoughts of the father of the nation, the government led by his worthy daughter, Hon'ble Prime Minister Sheikh Hasina, has been celebrating this day as 'National Energy Security Day' since 2010.

Finally, the Bangladesh Oil, Gas, and Mineral Corporation Ordinance, 1985 (Ordinance No. XXI of 11 April, 1985), was repealed and brought up to date with necessary amendments and modifications by Act No. 19 of 20 November 2022, and an act named the Bangladesh Oil, Gas, and Mineral Corporation Act, 2022, was enacted in Bengali, and the corporation was named Bangladesh Oil, Gas and Mineral Corporation (Petrobangla).