Energy Bangla

Energy electricity and environment news portal

Dhaka Wednesday,  Feb 21, 2018

Petroleum

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... »
oil-tank-337x205 Oil prices edged higher from one-month lows in early trading in Asia on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on managing production. But the gains were limited as the market was weighed down by further indications of record output from the group, a sign the glut that has kept a lid on prices is not draining... »
The World Bank is raising its 2017 forecast for crude oil prices to $55 per barrel from $53 per barrel as members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to limit production after a long period of unrestrained output. Energy prices, which include oil, natural gas and coal, are projected to jump almost 25 percent overall next year, a larger increase than anticipated in July. The revised... »
oil pic ISTANBUL: OPEC said Wednesday it was inviting Russia and other key non-members to a meeting later this month as the oil cartel and Moscow seek to tighten cooperation to boost historically low crude prices. The announcement came after a meeting in Istanbul between several top OPEC energy ministers with their Russian counterpart Alexander Novak aimed at advancing joint efforts to bolster oil prices whose lows have hurt the highly-dependent economies... »