MJL Bangladesh Limited

MJL Bangladesh Limited was established as Mobil Jamuna Lubricants Limited in 1998 by Jamuna Oil Company, a subsidiary of the state owned Bangladesh Petroleum Corporation and Mobil Corporation. The company was founded at the initiative of Mobil. In 2003, a Lube Oil Blending Plant was established by the company; which was the first lube oil factory in Bangladesh. The base oil to blend lubricant products in the factory comes directly from ExxonMobil. ExxonMobil disinvested from the company in 2003 that made EC Securities Limited the largest shareholder of the company. In 2010, MJL Bangladesh Limited entered into the stock market by issuing IPO worth 4.60 billion taka on Dhaka Stock Exchange; setting a record for the second largest IPO in Bangladesh. In 2013, MJL Bangladesh Limited signed an agreement with AKT Petroleum Ltd to launch a joint venture in Myanmar to market Mobil branded lubricant's in the country. In 2017, the company gave 45 percent cash dividend to its shareholders. It's profit in 2017 was 1.9 billion taka. In 2018, profits rose by 14 percent for the company. In 2020, sales of the company declined for the first time in three years. ==Subsidiaries==

Omera Petroleum Limited Omera Petroleum Limited is a subsidiary of MJL Bangladesh Limited. Omera Petroleum Limited manufactures and distributes liquefied petroleum gas (LPG) in Bangladesh. Omera Cylinders Limited Omera Cylinders Limited manufactures cylinders and works as a backward integration company. MJL & AKT Petroleum Company Limited MJL & AKT Petroleum Company Limited is a joint venture between MJL Bangladesh Limited and AKT Petroleum Limited that markets Mobil lubricants in Myanmar. ==References==