Bangladesh is considering diversifying its sources of oil imports that now heavily depend on Kuwait and the Kingdom of Saudi Arabia, local daily The Financial Express reported Thursday.

"We are now examining the possibilities for import of oil from Iran, Abu Dhabi, and Malaysia," the daily quoted a senior official of the Ministry of Energy, Power and Mineral Resources as saying.

"Our ministry has already started negotiating with Iran, Abu Dhabi and Malaysian governments," said the official.

He said the terms put forward by Kuwait sometime seem harsh and its authorities do not have flexible policies for Bangladesh.

However, a member of Board of Investment (BoI) delegation, who is currently visiting Kuwait along with BoI Executive Chairman Mahmudur Rahman, told the daily over phone Wednesday that there was a possibility that Kuwait would allow Bangladesh to import oil under deferred payment systems.

Bangladesh currently imports 3.8 million tonnes of crude and finished fuel oil annually. Some 80 percent of refined oil come from Kuwait.

Source: Xinhua