Bangladesh Mineral Oil & Gas Corporation (BMOGC) was created through the Presidential order 27 on March 26, 1972. The minerals operation of the corporation was segregated and vested with a new organization, Bangladesh Mineral Development Corporation (BMEDC), on 27 September 1972, through the PO 120. The reconstituted Bangladesh Oil & Gas Corporation (BOGC) was short named Petrobangla through the ordinance 15 of 22 August, 1974. On 13 November 1976, through the ordinance 88, the importation, refining and marketing of crude and petroleum products and vested with newly formed Bangladesh Petroleum Corporation (BPC).
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