Energy Bangla

Energy electricity and environment news portal

Dhaka Sunday,  Apr 30, 2017

Petroleum

oil The government may reduce the cost of fuel in the next month. The government’s announcement comes five months after it made fuel cheaper in the wake of a call by businesses for a blanket cut. The prices of diesel and kerosene were brought down by Tk 3 a litre, and octane and petrol by Tk 10 in the month of April this year. The power, energy and mineral resources minister on... »
oil pic Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring. Goldman Sachs revised down its estimate for oil prices for the end of... »
oilprice Oil prices edged up on Thursday after two consecutive days of losses, with gains capped by returning supplies from Nigeria and Libya. Brent crude futures LCOc1 were trading at $46.23 per barrel at 1012 GMT, up 38 cents, from the last settlement. U.S. West Texas Intermediate (WTI) futures CLc1 were up 25 cents, or 0.6 percent, at $43.83 a barrel. Crude prices fell about 3 percent for a second straight... »
oil-tank-337x205 Oilfield services, shipbuilders and other industries that rose with the pre-2014 oil price boom have had it hard. Since barrel rates fell, their previous patrons have become uninterested in doling out major purchase orders, leaving oil and gas equipment manufacturers without revenues. A recent report by Arkansas Online says the energy industry’s support sector could feel the effects of low oil prices for up to two years after the current... »
oil pic Oil prices edged up slightly Thursday after being hammered the day before by data showing a sharp rise in US stockpiles, while analysts warned a pick-up in the dollar would add further downward pressure. Both main contracts plunged Wednesday after the US Energy Department said commercial inventories in the world’s top oil consumer edged up last week and were now 16 percent higher than the same period last year. The... »
tripura oil permit Bangladesh has given India route permit to carry petroleum products such as motor spirit, high speed diesel, superior kerosene and liquefied petroleum gas from Assam to Tripura through its territory. Indian Oil Corporation Limited (IOCL) signed a MoU with Bangladesh’s Roads and Highways Department on Thursday. The High Commission of India said heavy monsoon and the resultant extremely bad road condition of NH44 have caused disruptions in the supply of... »
bpc-337x205 Bangladesh Petroleum Corp (BPC) has received offers in its first tender to buy fuel oil at premiums lower that its term deals, two company sources said on Sunday. The tender was issued as part of an effort to move away from direct-term deals with fuel products suppliers to try to buy at cheaper rates. A total of nine international oil and trading companies have been competing to win the tender... »
oil pic The rig count has rebounded from the lows seen in late May, a small indication that oil companies in the U.S. could begin drilling anew. Shale drilling is a short-cycle prospect, requiring only a few weeks to drill and bring a well online. Because of this, the collective U.S. shale industry has been likened to the new “swing producer”: low oil prices force quick cutbacks but higher prices trigger new... »
oil-field Bargain-hunting investors helped to support world oil prices Monday despite deep uncertainty following Britain’s vote to quit the EU. Oil prices had slumped more than five percent on Friday following the British referendum. They slid again as trading opened in Asia on Monday, rebounded hours later, and then came under fresh pressure in European business. At around 1035 GMT, Brent crude was up six cents at $48.47, while US benchmark... »
bpc-337x205 More than a number of 2.5 thousands of ‘audit objections’ have been filed at the Bangladesh Petroleum Corporation (BPC) and the number is like ever increasing. However, complaints are there that the authority has a lack of sincerity to resolve those issues. As the time passes by, the unresolved objections get tangled, making the situation more complicated. The accumulated amount for each of the objections worth more than 65 thousand... »