Energy Bangla

Energy electricity and environment news portal

Dhaka Sunday,  Oct 22, 2017

Petroleum

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... »
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... »