Bangladesh Petroleum Corporation (BPC) has initiated steps to relocate its headquarters from Chattogram to Dhaka, with plans to purchase three floors of the 20-storey Jamuna Oil Company building in Karwan Bazar. The process has advanced significantly, receiving approval from Jamuna’s board and a positive response from the government. A committee has been formed to determine the fair value of the floors, and BPC intends to finalize the purchase after Eid. However, the transfer appears to breach company law, which requires approval from the annual general meeting (AGM) for asset transfers.

Jamuna Oil, a listed company with BPC holding 60 percent of its shares, built the Dhaka building to generate rental income. Critics say the transfer decision bypassed shareholder approval and was driven by top-level pressure. BPC’s move comes even as it recently completed a new headquarters building in Chattogram’s Joypahar area, where 90 percent of its operations are based.

Energy sector experts and transparency advocates warn that relocating the headquarters could undermine administrative decentralization, create bureaucratic delays, and contradict the government’s policy of moving institutions outside Dhaka.