BRIEF HISTORY OF JAMUNA OIL COMPANY LIMITED

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.

In 2005-2006 FY the paid-up capital of the company was increased to Tk. 10.00 crore from Tk. 5.00 crore by issuing of bonus share out of its profit. The company was converted into a Public Limited Company from a Private Limited Company on 25 June, 2007 and its authorized capital was increased to Tk. 300.00 crore. On 10 August, 2007 the paid-up capital of the company was increased to Tk.45.00 crore by issuing bonus share of Tk. 35.00 crore. The company was enlisted with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on 9 January, 2008 with a view to off-load 1.35 crore shares of Tk.10.00 each under direct listing procedure and accordingly the shares of the company were off-loaded in the capital market.

On 14th may,2011, in its 35th AGM, the company declared to pay 30% cash dividend and 20% Bonus share of taka 10.00 each for the FY 2009-2010. With this issuance of bonus share, company's total paid up capital soared to Tk. 54.00 Crore.

On 11th february,2012, in its 36th AGM, the company declared to pay 30% cash dividend and 30% Bonus share of taka 10.00 each for the FY 2010-2011. With this issuance of bonus share, company's total paid up capital soared to Tk. 70.20 Crore.

In its 37th AGM, held on January 12, 2013, the company declared and approved to pay 45% cash dividend and 30% stock dividend of taka 10.00 each for the FY 2011-12. As a result, company's total paid up capital increased to 91.26 Crore.

There is a Board of Directors constituting of 9 members to run the Company. The overall activities of the company are performed with the approval of the Board of Directors. The company implements the Government policies as per the guidance and directives of BPC from time to time.

2. Organizational Goals :

• To ensure smooth supplies of products all over the Country.
• To ensure excellent service to the consumers.
• To ensure effective cost control & profit.
• To maintain effective management system.
• To create effective manpower for the Company.

3.  Organizational Structure :

View the Organizational structure here

4.  Capital Structure :

Please view the Capital structure & share holding information here

5.  STORAGE CAPACITY (as on 30-06-2012):

Storage capacity (Quantity in Metric Ton) :

6. SALES PERFORMANCE:

Sales Performance for last five years (Quantity in Metric Ton) :

7. OPERATING PERFORMANCE FOR LAST FIVE YEARS:

8. FINANCIAL PERFORMANCE :

 Financial Performance for last five years (Amount in Crore Taka) :

9. BALANCE SHEET :

 Balance Sheet for last five years (Amount in Crore Taka) :

10. PAYMENT TO THE NATIONAL EXCHEQUER :

Payment to the national exchequer for last 5 years (Amount in Crore Taka).

11. Distribution Network :

Product receipts from ERL & LPG plant and imported finished products are being marketed by the Company through 421 Filling Stations, 713 Distributors Point, 182 Packed Point Dealers and 792 LPG Dealers. Besides, the Company delivers products directly to industries and Power Plants. Company gets supply of LPG from LP Gas Limited, Chittagong and Kailashtila Project, Sylhet.

12.  Employee Strength :

As per organogram and at present, strengths of officers and staffs are as follows:

13. Profit Margin

Jamuna Oil Company Limited is engaged in marketing POL products. The income it earns is termed as ‘Margin’ which is fixed and determined by the Government. Jamuna has no control over in fixing the price of the products.

14.  Joint Venture Company :

Shareholding position :

  MJL Bangladesh Ltd. (formally MJLL) floated it’s shares in the market at Tk. 152.40 per share of Tk. 10.00 each. Company’s value of investment at market price @110.00 stands at Tk. 443.74 Crore as against the original investment of Tk. 8.77 Crore only. Mobil Jamuna Fuels Ltd. (MJFL) has started construction of oil storage Tanks at its premises and expected to be completed within this calendar year.