Standard Asiatic Oil Company Limited is a Bangladeshi government owned oil company under Bangladesh Petroleum Corporation.[1] The company sells several grade lubricant, bitumen, diesel oil, furnace Oil, and LP gas.[2]
History
Standard Asiatic Oil Company Limited was established in 1965 as a joint venture of Asiatic Industries Limited and Esso.[3]
After the Independence of Bangladesh in 1972, Esso left the company and their shares were taken over by the government of Bangladesh.[3] The shares of Esso given to Bangladesh Petroleum Corporation, under the Ministry of Power, Energy and Mineral Resources, which now owns 50 per cent of Standard Asiatic Oil Company Limited.