Jamuna Oil Company

Jamuna Oil Company LTD (JOCL)

Type	Public
Traded as	: JAMUNAOIL
Industry	Petroleum
Founded	1964
Headquarters	Chittagong, Bangladesh
Area served	National
Products	Oil Petrol Octane Diesel Kerosene
Revenue	BDT 489.4 million (2011)
Operating income	BDT 179.3 million (2011)
Net income	BDT 128.7 million (2011)
Number of employees	591 (2005)
Website	jamunaoil.gov.bd

Jamuna Oil Company Ltd (JOCL) (estd. as Pakistan National Oil in 1964; renamed as Bangladesh National Oil in 1972) (:JOCL) is a subsidiary of the Bangladesh Petroleum Corporation that nationally markets octane, petrol, diesel, kerosene, furnace oil, bitumen and lubricants in Bangladesh. In 1975, it was renamed Jamuna Oil Company (JOCL) after the river Jamuna. It is headquartered in Chittagong, Bangladesh.

In 1964 Pakistan National Oil Limited (PNOL), the maiden National oil company of the then Pakistan was established as a private limited company. The company started functioning with an authorized capital of Tk.2.00 crore. After the Independence of Bangladesh in 1971 the Government of the Peoples Republic of Bangladesh acquired the assets and liabilities of Pakistan National Oil Limited by virtue of Bangladesh Abandoned Property (control, Management & Disposal) Order, 1972 (P. O. No. 16 of 1972) and the Company was renamed as Bangladesh National Oil Limited. The Company has been finally renamed as Jamuna Oil Company Limited (JOCL) by the Government on 13 January 1973. At that time the company was operated by an adhoc committee called Oil Companies Advisory Committee (OCAC) under Petrobangla, constitute by the notification No. 21 m-4/76 (NR) dated 21-4-73, M/O. Natural Resources.

Jamuna Oil Company Limited was registered with the registrar of Joint Stock Companies & Firms as fully Government owned Private Limited Company on 12 March 1975 under Companies Act 1913 with authorized capital of Tk. 10.00 crore and paid-up capital of Tk. 5.00 crore. Subsequently, in the year 1976 the assets and liabilities of the Company were transferred & handed over to Bangladesh Petroleum Corporation (BPC) as per schedule stated in clause 31(c) of BPC Ordinance No. LXXXVIII (published in Bangladesh Gazette extra ordinary on 13 November 1976). Since then Jamuna Oil Company Limited has been functioning as a Subsidiary of BPC. On 1 January 1986 all assets and liabilities of Indo-Burmah Petroleum Company Limited (IBPCL) were transferred to the Company.