The High Court on Sunday declared illegal the gas price hike for household use in the second phase that came into effect on 1 June, reports UNB. The High Court bench of justice Zeenat Ara and justice Kazi M Ejarul Haque Akond passed the order after hearing on a rule. Besides, the court asked the Bangladesh Energy Regulatory Commission (BERC) to issue a notice in this regard before 1 August.... »
Chevron Corporation, the US based oil giant has started negotiation with the state-run Petrobangla for the approval of its disputed share transfer procedure. A high-level delegation from Chevron sat on a meeting with Petrobangla regarding this issue on Wednesday at the Petrocentre of the capital. After the meeting, Petrobangla chairman Abul Monsur Md. Fayjullah told the newsmen that, Chevron was being questioned about the transfer of its share transfer without... »
IFC, a member of the World Bank Group, and Excelerate Energy Bangladesh Limited (Excelerate) are co-developing the Moheshkhali Floating LNG project – Bangladesh’s first liquefied natural gas (LNG) import terminal. The project will be located offshore Moheshkhali island in the Bay of Bengal with a project cost of $179.5 million. IFC and Excelerate today announced securing the debt financing for the project to help expand access to clean energy in... »
Bangladesh will begin substituting part of its oil product imports with LNG next year, as it aims to use more gas in power generation to replace oil-fired plants, Sayed Mohammad Mozammel Haque, director for Operations and Planning at Bangladesh Petroleum Corporation (BPC), told S&P Global Platts on Wednesday. Bangladesh’s demand for LNG is expected to rise to 9 million mt annually by 2022, Platts Analytics has estimated, but it’s not... »
The Supreme Court has cleared a hike in the price of gas in the second phase overriding a ban on it by the High Court. On Monday, the Appellate Division bench led by Chief Justice Surendra Kumar Sinha upheld the stay on the High Court’s order. On Feb 23, the Bangladesh Energy Regulatory Commission or BERC made a public announcement fixing monthly gas bills for one burner at Tk 750... »