Dhaka Tuesday, Jul 14, 2026
- Government Begins Talks with IMF for a New Loan Program
- Power Division Opens Control Room to Address Flood Situation
- It Will Take Time to Break Free from the Cycle of Corruption in the Power Sector: Information Minister
- Electricity Prices Increased for All Consumers
- Approval Given to Purchase Three LNG Cargoes
- Diesel, Kerosene Prices Cut By 50p For November
- AI Boom To Fuel Natural Gas Demand In Coming Years, Report Says
- Bangladesh signs €477m deals with EU and EIB for renewable energy and more
- The Current Oil Price Rally Is Reaching Its Limits
Petroleum
Oil prices have briefly fallen below $30 a barrel on international markets for the first time since April 2004, before recovering again. Brent crude, used as an international benchmark, fell as low as $29.96, but bounced back to trade at $30.22. Oil prices have fallen by 70% in the past 15 months. Earlier, Russia’s Prime Minister, Dmitry Medvedev, warned tumbling oil prices could force his country to revise its 2016... »
UK oil firm BP said it would cut 4,000 jobs globally, 600 of which will be from its North Sea operations. It comes as profits continue to suffer as a result of a 70% collapse in oil prices leading to a big cutback in investment across the oil industry. The North Sea job cuts are expected to take place over a two-year period. Meanwhile, Brazil’s oil giant, Petrobras, announced a... »
Oil prices have been volatile again, hit by continuing oversupply, the strong dollar and weak global demand. Some members of the Opec group of oil producers have called for an emergency meeting to discuss reducing output. Opec president Emmanuel Ibe Kachikwu said an extraordinary meeting could be held in early March. On Tuesday, Brent crude fell as low as $30.43 per barrel before recovering to trade 0.5% higher at $31.75... »
Crude oil fell 3 percent on Tuesday, heading toward $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines. Prices are down around 20 percent since the start of the year, dragged lower by soaring oversupply, China’s weakening economy and stock market turmoil, as well as the strong dollar, which makes it more expensive for... »
State-owned Bangladesh Petroleum Corporation (BPC) has decided to store diesel to ensure supply of fuel for the upcoming irrigation season in Northern region. Since the Northern Region consumes maximum diesel during irrigation season the Energy Division gave emphasis to the region. BPC estimated 3.80 lakhs tones of diesel for this season for Northern side of the country. BPC estimated for the season 17 lakhs tones of fuel among them 3.80... »
Oil prices rebounded from 12-year lows in Asia Friday but the China-triggered global stock market turmoil and crude oversupply kept investors on edge. The plunge in Chinese stocks is raising further concerns about the country’s economic growth slowdown and its impact on oil demand. China is the world’s second biggest economy and top energy consuming nation. Beijing attempted to reassure markets late Thursday by lifting a circuit breaker system that... »
Oil prices jumped on the first trading day of 2016 as Middle East tension outweighed a selloff in financial markets around the world. Oil markets remain oversupplied and depressed, but geopolitical flashpoints have a historical tendency to disrupt market trends. Over the weekend, Saudi Arabia carried out a mass execution of 47 prisoners, including a prominent Shiite cleric Nemer al-Nemer. The executions prompted condemnations from around the world, but in... »
Leading financial watchdog Centre for Policy Dialogue (CPD) monday suggested lowered petroleum price against the backdrop of the international market trend expecting the move to benefit the national economy. “Domestic price of petroleum products have not been adjusted with the declining trend in the international price since January 2013 despite a strong demand from stakeholders,” the think-tank said in its State of the Bangladesh Economy report for 2015-2016 fiscal. Revealing... »
Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. “A low point could be in the first quarter,” Dudley told BBC radio. Oil prices fell by 34 percent in 2015, battered by prolonged global oversupply and a slowdown in energy-hungry China’s economy. Dudley predicted that prices could stabilise towards the end of the year, but... »
Russian Energy Minister Alexander Novak said in an interview this week aired on a Russian television channel Saudi Arabia was to blame for the collapse in crude oil prices, Oil Gas Daily reported. Brent crude oil prices are down roughly 36% from this time last year and continue to hold beneath $40 per barrel — even pennies below West Texas Intermediate crude — Kallanish Energy calculates. Oversupply, despite low crude... »