Energy Bangla

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Dhaka Wednesday,  Aug 23, 2017

Petroleum

oil-prices-falling Foreign Remittance is one of the major sources of this country’s income.But, Continuous fall of the oil price in the global market affected the remittance inflow. Sources from Bangladesh Bank stated that, remittance reception dropped by $1.3 billion in the last 11 months this year comparing to the same time frame last year. Central Bank provided data suggests that, remittance has been on the slide every month since December last... »
oil pic Indian consumers will soon have to pay more for fuel as global crude oil prices have shot up 15% in the last two weeks as OPEC and other major producers such as Russia have agreed to cut supplies for the first time since 2001. Analysts said state oil marketing companies may need to raise petrol and diesel prices by up to Rs 6 per litre when they review global fuel... »
Russia's Energy Minister Novak, OPEC President al-Sada and Saudi Arabia's energy minister al-Falih address a news conference after a meeting in Vienna OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to play ball,... »
spm State–owned Bangladesh Petroleum Corporation (BPC) signed a contract with Chinese firm China Petroleum Pipeline Bureau (CPP) to implement ‘Single Point Mooring (SPM) with Double Pipeline’ project. BPC director (P&D) Mozammel Haque and CPP president Zhao Yujian signed the contract on behalf of their respective sides. As per the deal, Chinese state-owned CPP will set up the project as EPC (engineering, procurement and construction) contractor at a cost of $550.40 million... »
bno mou sign A MoU signed between Lub-rref Bangladesh Ltd and South West Holdings (Pvt) Ltd, Srilanka recently in Taiwan. Under this MoU, South West Holdings (Pvt) Ltd will be distributing BNO Lubricants in Srilanka. Mr. Salauddin Yousuf, Director of Lub-rref Bangladesh Ltd and Mr.  Anura Samarawickrema Lokuhetty, Chairman of South West Holdings (Pvt) Ltd signed the MoU on behalf of their respective company. Mr.  Abdul Matlub Ahmad, President FBCCI Bangladesh and Ms.... »
oil pic Iraq has to up its crude output because dwindling oil prices and the fight against Islamic State have left “a huge hole” in the economy, Foreign Minister Ibrahim al-Jaafari said Tuesday, as the OPEC cartel scrambles to agree a production cut deal. “As oil makes up for more than 90 percent of Iraq’s budget, a huge hole was knocked in the budget by the fall in prices right at the... »
crude oil to refined prodcut pic Bangladesh Petroleum Corp (BPC) issued an international tender on Monday to sell 170,000 barrels of naphtha for Dec. 22-24 loading from Chittagong, according to the tender document. The tender will close on Dec. 6 with validity up to Dec. 13. This month, state-owned BPC sold a cargo of the same size to Swiss Singapore Overseas at a discount of 89 cents to Singapore quotes. Bangladesh’s sole Eastern Refinery, which has... »
Nasrul Hamid State Minister for Power and Energy Nasrul Hamid said, the government wants to see the “direct benefit” of fuel price cut in the transport sector. A direct benefit of drop in fuel price will be reduction in transport fares, but it is not happening. This time we want to see this happen, he told the media on Sunday, referring to earlier price adjustments. Finance Minister AMA Muhith has recently said... »
oil A decision in principle to reduce fuel oil prices in order to strengthen the country’s economy will be finalised soon, Finance Minister AMA Muhith has indicated. “The issue of cutting down on oil prices was discussed at a coordination council meeting. Now we will prepare the papers and send those to the energy ministry,” Muhith said on Thursday. “The matter will be finalised after discussions with the prime minister when... »
oil pic A technical meeting that was supposed to iron out some wrinkles for a deal to cut oil production ended in acrimony over the weekend, and OPEC’s effort at coordination could be at yet another impasse. Following the Algiers agreement at the end of September, a tentative deal that called for a collective reduction in oil output in the range of 200,000 to 700,000 barrels per day, OPEC scheduled a meeting... »