Energy Bangla

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Dhaka Sunday,  Apr 30, 2017

Petroleum

u s oil The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. The premise was you could get out of the army if you were crazy but you weren’t crazy to try to get out of the army. So this avenue to escape the war didn’t work for the book’s... »
oil and gold Oil prices fell in Asia Tuesday, snapping two days of gains, ahead of a report on US crude inventories and the British referendum on whether to stay in the European Union. Worries that Britons will vote to leave the EU on Thursday has frayed nerves, and global investment titans Li Ka-shing and George Soros warned of economic doom if the country exits. ‘Uncertainty around the outcome of the EU referendum... »
bpc profits Bangladesh Petroleum Corporation is set to log in profit of Tk 12,186 crore for fiscal 2015-16, which is three times more than in the previous year, in spite of the recent price cuts, according to the finance ministry’s provisional estimate. After five consecutive years of losses, BPC last year made a profit of Tk 4,126 crore. The fuel price has been on a slide since June 2014 in the international... »
India-Oil-Ministry-Orders-Probe-into-Petronet-RasGas-LNG-Deal After linking the power networks, India and Bangladesh will hold official-level talks here on June 12 to discuss the nitty-gritties of linking their LPG (liquefied natural gas) networks. The Bangladesh energy secretary will be visiting Delhi on June 12 for discussions with our petroleum secretary KD Tripathi. The proposal draws upon the strength of our bilateral ties and will benefit people of both the countries,” oil minister Dharmendra Pradhan said... »
offshore Total global oil production could decline for the next several years in a row as scarce new sources of supply come online. According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. But the deficit will only widen in the years ahead due to the dramatic scaling back in spending on new exploration and development. Statoil says... »
oilsaudi OPEC member Kuwait has earmarked 34.5 billion dinars ($115 billion) to spend on oil projects over the next five years, despite the slump in oil prices, a senior executive said Sunday. “We have earmarked 34.5 billion dinars for spending on oil projects over the next five years,” Wafa al-Zaabi, head of planning at Kuwait Petroleum Corp, told an oil conference. “Over 30 billion dinars ($100 billion) will be spent on... »
oil pic The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. The benchmark Brent crude price hit $50.07 a barrel in Asian trade. The rise followed US data on Thursday showing that oil inventories had fallen, largely due to supply disruptions following fires in Canada. Brent crude has now risen 80% since it... »
oilfield Oil prices pulled back from early losses Thursday to end barely changed, as the market focuses on continued supply disruptions in Nigeria and Canada and potential outages in turbulent Venezuela. Prices closed below Wednesday’s 2016 highs, with US benchmark WTI crude for June delivery off 11 cents at $48.67 a barrel, and London contract Brent North Sea for June off 12 cents to $48.81. The stronger dollar, boosted by rising... »
aoilworries Kuwait has responded positively to cooperate in establishing an oil refinery in Bangladesh. In response to Prime Minister Sheikh Hasina’s request, Kuwaiti Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah assured exploring opportunities in the field of gas and oil. According to a joint statement issued wednesday on conclusion of Sheikh Jaber’s three-day visit, the two sides agreed to expand cooperation in various fields of trade, investment, energy and power, defence,... »
chaina steps up crude purchases Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first quarter of 2016—the highest stockpiling rate since 2014. While the world was speculating about oil prices plunging to $20 and $10 per barrel, China was busy stockpiling its reserves. The chart below shows an increase in imports as... »