Energy Bangla

Energy electricity and environment news portal

Dhaka Monday,  Apr 22, 2019

Petroleum

By. James Burgess: The future of oil exploration lies in new technology – from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs. Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling. Oil majors... »
By Nicholas Cunningham: The confrontation between Russia and the West took a turn for the worse with the downing of a Malaysian airliner on July 17, and that could spell trouble for several major oil companies operating in Russia. Just one day earlier, U.S. President Barack Obama slapped sanctions on Russia over its ongoing role in the destabilization of Ukraine. The sanctions prohibited American banks from issuing loans with a... »
By Claude Salhani: For the terrorist group known as the Islamic State, Syria and Iraq were a good place to start their campaign, but in order to survive and prosper it knew from the outset that it had no choice but to set its sights on the ultimate prize: the oil fields of Saudi Arabia. It is in that direction that the battle for control of the world’s largest oil... »
By Nick Cunningham: The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the lowest level in six weeks. “Unless there’s a significant reversal in oil... »
Bangladesh Petroleum Corporation (BPC) has sought Tk 600 crore from its enterprises — Padma, Meghna and Jamuna — for importing petroleum fuel to avoid huge bank loan interests. “We have already sought Tk 200 crore each from Padma, Meghna and Jamuna oil companies to meet the immediate fund crisis,” BPC Chairman Eunusur Rahman has said. He said the BPC has sought Tk 4,721.73 crore from the Finance Division. Of the... »
The government does not plan to raise prices of fuel oil anytime soon, Finance Minister AMA Muhith has said He said the Cabinet Committee on Government Purchase did not discuss fuel price in its Thursday’s meeting. “It really depends on the international market,” Muhith said. He said the committee would not take any steps to raise or decrease fuel oil prices unless the energy ministry sent a proposal. “We will... »
NEW YORK, Aug 23, 2014 (BSS/AFP) – Oil prices retreated yesterday as investors focused on the prospect of having too much oil supply amid weakening demand in the global market. US benchmark West Texas Intermediate for October delivery finished trade at $93.65 a barrel, down 31 cents from Thursday’s close. Brent North Sea crude for October, Europe’s main futures contract, dropped 34 cents to settle at $102.29 a barrel in... »
US oil and player Apache has made what is being feted by some as potentially Australia’s largest oil discovery in the last 30 years, fuelling hopes of a new oil province located off the north-west coast. The field found by the Phoenix South-1 well, which was targeting gas rather than oil, could have potentially up to 300 million barrels of oil in place, according to Apache. Only a portion of... »
While we fixate on sexy headlines about Chinese military threats in the South China Sea, for instance, or Washington ‘lifting the ban’ on crude oil exports, we miss the bigger stories—and we miss the reality. China’s relentless resource quest has the greatest impact on trading prices, which may not make for headline news, but is a very important reality, while the stories about the US lifting the crude oil ban... »
By Chris Dalby: The debate over the impact of peak oil has been raging for decades. Although few deny that the end of mass oil consumption is drawing nearer, educated estimates now range between 2020 and 2030. But more important than the timeframe of peak oil are its consequences. Some seek to spell the end of life as we know it, so reliant is the world upon black gold. Others,... »