Summit Power International Limited has confirmed that it currently has approximately 44,000 metric tons of Heavy Fuel Oil (HFO) in stock at its fuel terminals in Bangladesh. Based on power demand, this stock will ensure uninterrupted production of Summit’s four power plants (with a combined generation capacity of 645 MW) for the next 30-45 days, a press release said.
The stockpiles were built up in the normal course of business before the global oil market volatility began. The cost of the latest shipment, released in the second week of February 2026, was approximately US$449.47 per metric ton. As of March 9, 2026, the market price of the equivalent fuel on Singapore Platts stood at approximately US$941.26 per metric ton.
This existing stock means that the power sales price to BPDB from Summit’s HFO-based power plants: Summit Gazipur-2 Power Limited, Ace Alliance Power Limited, Summit Barisal Power Limited and Summit Narayanganj Power Unit-2 Limited will remain free from the current volatility of the spot market in the near future.
Summit is working closely with BPDB and relevant authorities to maintain stability and continuity of power supply in Bangladesh.
About Summit Power International Limited:
Summit Group is the largest infrastructure-based industrial conglomerate in Bangladesh. The company supplies nearly 2 GW of power to the national grid and operates the country’s second floating LNG terminal (FSRU) and LNG import terminal, with a capacity of 500 million cubic feet per day. Summit is a well-known and trusted name in the sustainable power generation of the future.
