MJL Bangladesh PLC, popularly known as Mobil Bangladesh, has decided to sell a secondhand oil tanker for $22.7 million, the company said yesterday.

The 20-year-old Aframax oil tanker MT Omera Legacy has a capacity of 107,091 tonnes, according to a disclosure filed by the company with the Dhaka Stock Exchange (DSE) yesterday.

An Aframax oil tanker refers to a medium-sized oil tanker with a deadweight capacity typically ranging from 80,000 to 120,000 tonnes.

A senior MJL official said the company will pay a 3 percent commission to brokers involved in the sale.

Following the announcement, MJL's shares rose by 1.48 percent to close at Tk 96.20 on the DSE yesterday.

This move follows MJL's board decision in December last year to acquire another secondhand Aframax oil tanker, MT Nissos Delos, for $45.3 million.

The 12-year-old vessel, with a carrying capacity of 115,690 tonnes, will replace MT Omera Legacy.

MJL reported a 30 percent year-on-year increase in profit during the first half of the financial year 2025, reaching Tk 217.46 crore.

However, the lubricant oil company saw a marginal decline in profit to Tk 276.63 crore in the financial year 2024, down from Tk 276.90 crore the previous year.

A joint venture between East Coast Group's EC Securities and state-owned Jamuna Oil Company, MJL has been a key player in lubricant blending in Bangladesh since its establishment in 1998.