China is about to buy the assets of Chevron in Bangladesh. Chevron Bangladesh has signed a preliminary deal with the China’s state-owned Zhenhua Oil to sell its assets in the country which includes 3 of the gas fields currently operated by Chevron, reports Reuters. Chevron Bangladesh’s external communications manager Shaikh Jahidur Rahman said, “We can confirm that Chevron has been in commercial discussions about our interests in Bangladesh. We will... »
The High Court has put a six-month embargo on the government’s decision to increase prices of household and industrial gas for a second time in June this year. Tuesday’s order came from the bench of justices Moyeenul Islam Chowdhury and JBM Hassan after a primary hearing on a writ petition filed by Consumer Association of Bangladesh a day ago. Last week, the regulator announced it would hike gas prices twice... »
China’s state-run Zhenhua Oil has signed a preliminary deal with Chevron to buy the U.S. oil major’s natural gas fields in Bangladesh that are worth about $2 billion, two Beijing-based Chinese oil executives said. Zhenhua is a subsidiary of China’s defence industry conglomerate NORINCO. A completed deal would mark China’s first major energy investment in the South Asian country, where Beijing is competing with New Delhi and Tokyo for influence.... »