STANDARD ASIATIC OIL COMPANY LTD is one of the lubricating oil blending plant in Bangladesh set-up in the port city of Chittagong on 50:50 equity joint venture between The Asiatic Industries Ltd, a private limited company and Esso Eastern Inc. of USA in 1964.

After the independence of Bangladesh in 1971, all rights, obligation & shares of Esso were vested to Bangladesh Government and subsequently to Bangladesh Petroleum Corporation (BPC).

The Board of Directors of the company consists of four directors ,two from The Asiatic Industries Ltd and two from Bangladesh Petroleum Corporation. With well equipped laboratory and eight storage tanks of 9,500 metric tons the company has the capacity to blend 30,000 metric tons of lubricating oil per annum.

Around 200 grades of various category of lubricating oils are blended for the state run oil marketing companies as well as private oil marketing companies in the brand names of BP, Mobil, Castrol, Lubzone, Gulf, etc. All the lubricants are tested first in the company's laboratory. After approval the lubricants are packed in drums, tins and cans for shipment to the clients.

Apart from blending lube oils, the company is also engaged in marketing of Lubricating Oil, Liquefied Petroleum Gas (LPG) and Bitumen.