Energy Bangla

South Korean Daewoo International Corporation has agreed to carry out exploration in three deep sea blocks in the Bay of Bengal in accordance with terms and conditions offered by Petrobangla, a senior official said Wednesday. Daewoo and Petrobangla recently discussed the proposed terms and conditions and modalities for exploring the blocks — DS-12, DS-16 and DS-21 – where the South Korean firm was keen to explore under the current terms... »

The state-owned Petrobangla has finally lost to Niko Resources, as an international court gave its final verdict, saying it would have to pay 275 crore and 34 lacs taka as compensation. It is assumed that the failure of authorities to represent appropriate data caused this loss. The International Center for Settlement of Investment Disputes (ICSID) upheld its previous verdict after a final hearing held on 26th of May; Niko has... »

CNG refilling stations across the country will remain closed for seven hours from 3pm to 10 pm during Ramadan until July 1, reports UNB. The decision was taken at a meeting held at Power Division with State Minister for Power and Energy Nasrul Hamid in the chair yesterday, sources said. But, they said, the decision was not formally announced. CNG refilling stations usually remain closed for 5pm to 9 pm... »

CNG filling stations across Bangladesh will operate round-the-clock to handle the pressure during Eid-ul-Fitr holidays, says Road Transport Minister Obaidul Quader. Services will be available round the clock in the ten days between July 1 and 10, he told an inter-ministerial meeting on traffic movement during the holidays on Thursday. Trucks, covered vans and tanker-lorries will be prohibited from plying on the national and regional highways three days before and... »

Bangladesh Petroleum Exploration and Production Company (Bapex) has filed a case with an international arbitration court against Niko Resources Bangladesh Ltd. Bapex claimed a compensation of around Tk 9,189 crore and annulment of the previous cases against itself. Bapex filed this case at the International Centre for Settlement of Investment Disputes (ICSID). According to the related sources, Niko has pleaded guilty in the Canadian court to bribing a Bangladeshi minister for getting the lease of... »

Petrobangla commenced negotiations yesterday with three international oil companies (IOCs) for three offshore gas blocks, targeting a conclusion by the end of the month. The three deep sea blocks — DS12, 16 and 21 — are located at depths ranging from 20 to 200 metres, with area 3200 to 3600 square kilometers in the Bay of Bengal in Bangladesh. Petrobangla received formal proposals for the blocks in the form of... »

The High Court on Monday issued a stay order on operation of the agreement that was signed with Niko Resources. The HC also issued a rule asking why that Joint Venture Agreement (JVA) should not be declared illegal. Professor M Shamsul Alam, an energy advisor to the Consumer Association of Bangladesh (CAB), filed a writ petition challenging the legality of the JVA. The HC bench comprising Justice Obaidul Hassan and Justice Krishna Debnath gave the... »

Bangladesh and India have decided to invest jointly in building liquid petroleum (LP) gas plant. A memorandum of understanding (MoU) has been signed in this regard on Monday. After the bilateral meeting at Radisson hotel in city, Bangladesh state minister for power, energy and mineral resources Nasrul Hamid and visiting India state minister for petroleum and natural gas Dharmendra Pradhan in a joint press briefing made this disclosure. They informed... »

CNG filling stations in Sylhet have gone an indefinite strike in protest against the attack on a CNG filling station in the city. Over 150 petrol pumps and gas stations in the entire eastern division have stopped services from Tuesday morning, said Bangladesh CNG Filling Station Owners Association’s Sylhet chapter General Secretary Amiruzzaman Chowdhury. The strike is in protest against the attack on and looting of a CNG re-fuelling station at South... »

The gas distribution companies of the country have submitted their proposal to the Bangladesh Energy Regulatory Commission (BERC) to increase gas prices, on average, by 87.66 per cent, according to sources. Six gas distribution companies have submitted a uniform proposal to increase the household gas price by 83 per cent for single burner ovens and 85 per cent for double burner ovens. The proposed prices for single burners is Tk... »