Energy Bangla

Brent oil on Wednesday surpassed $90 per barrel to strike the highest level for more than seven years, rattled by geopolitical tensions in Ukraine and supply concerns in the Middle East. European benchmark Brent North Sea crude rallied as high as $90.42 in afternoon London trade, attaining a level last seen in October 2014. The contract later stood at $90.23, up 2.3 percent from Tuesday. “This has been coming for... »

  OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output. The December figure compares with 117% in November. The International Energy Agency said this week that the group missed its production targets by 790,000 barrels per day (bpd) in December as members like West African producers Nigeria and... »

Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron Covid variant and geopolitical tensions. The contract hit $86.84 in Asian trade, a level not seen since late October 2014. Brent and West Texas Intermediate have climbed more than 10 percent so far this year as investors become increasingly confident that the demand will increase as the... »

Centre for Policy Dialogue recommended the government to reinstate the earlier prices of diesel and kerosene immediately to maintain stability in economic, social and political arena.“We recommend the government to reinstate the previous rates of fuel as an immediate step to maintain stability,” Dr Fahmida Khatun, Executive Director of CPD, said at a press briefing on Wednesday.The CPD organised the press briefing on the impacts of petroleum fuel price hike.... »

UNB: Diesel still sells cheaper in Bangladesh than in India, he says Information and Broadcasting Minister Hasan Mahmud on Friday said the hike in diesel price should not be used as an excuse to increase the prices of other essentials. He made the remarks while exchanging views with reporters at his official residence on Minto Road in the capital. He said diesel still sells cheaper in Bangladesh than in India.... »

BSS: The country will also import 5.85 million tonnes of refined oil to meet the growing national energy demand The Cabinet Committee on Economic Affairs on Thursday approved two separate proposals in principle for importing 1.6 million tonnes of crude oil and 5.85 million tonnes of refined oil for this year. In a bid to meet the growing national demand for energy, committee gave the approval at its 31st meeting... »

The government has increased the prices of diesel and kerosene by Tk 15 a litre with effect today. The prices of diesel and kerosene have been increased to Tk 80 a litre from Tk 65, said a notification issued by the power and energy ministry. The prices of octane and petrol have been kept unchanged at Tk 89 a litre and Tk 86 per a litre, respectively. The state-run Bangladesh... »

BSS: With installation of the Single Point Mooring (SPM) having double pipeline facility to supply imported fuel at Moheshkhali island, the government will save at least Taka 800 crore per annum. “Bangladesh Petroleum Corporation (BPC) initiated the SPM project to carry fuel through pipelines from mother vessels quickly, which would also save Taka 800 crore per annum,” State Minister for Power Energy and Mineral Resources told BSS here today. He... »

M AZIZUR RAHMAN: Bangladesh Petroleum Corporation (BPC) will strike a deal with the consortium of Japanese Marubeni, ‘controversial’ Vitol Asia Pte Ltd and local PowerCo International Pte Ltd to build an LPG terminal. Energy ministry has asked it to ink a memorandum of understanding (MoU) in order to construct the facility at Moheshkhali island in the Bay of Bengal. In a letter last week, energy and mineral resources division under... »

Md Abu Bakar Siddique has been appointed as new Chairman of the Bangladesh Petroleum Corporation (BPC). The Ministry of Public Administration issued a circular in this regard on Thursday, saying the order will come into immediate effect. Siddique, who has been serving as additional secretary (Political and ICT) at the Public Security Division of the Ministry of Home Affairs, was promoted to secretary and posted as Chairman of the BPC,... »