Energy Bangla

The country requires around 1.7 million Metric Tonnes (MT) of diesel during the December-April period to meet the additional demand for irrigation during the peak season for boro plantation, according to a ministry official. “The government is committed to ensure smooth supply of diesel to meet farmer’s demand during the irrigation season,” State Minister for Power, energy and Mineral Resources Nasrul Hamid told on Sunday. He also said currently power... »

BNO Lubricants, brand of Lub-rref (Bangladesh) ltd., brings mobile oil transformer filtration system to facilitate customers service. The system will ensure door to door oil supply service at customers call. The advanced system will improve dielectric strength of in-service transformer oil up to a significant level also guarantees longer life of processed oil as well as it will help to remove foreign materials, moisture content, dissolved gas and restore pH... »

US politicians have approved a measure to lift the 40-year ban on crude oil exports. The move is part of a $1.1 trillion (£738bn) spending bill approved by the Senate on Friday that will fund the US government until 2016. Oil prices rose on Friday following several weeks of falls, as the markets cope with a glut of crude. US West Texas Crude gained 1.1% to $36.38 a barrel, while... »

Oil tumbled to fresh multi-year lows in Asia Friday after the OPEC cartel said output had surged, exacerbating concerns over a supply glut that is expected to persist beyond next year. The Organization of the Petroleum Exporting Countries reported its collective production rose by 230,100 barrels a day in November to 31.7 million, the highest in three and a half years and beyond its 30 million ceiling target. The group... »

The Executive Committee of the National Economic  Council (Ecnec) Tuesday approved the Installation of Single Point  Mooring with Double Pipe Line project with an outlay of Tk 49.35 billion  (4,935.97 crore), aiming to ensure smooth unloading of crude oil and finished  products. The approval was given at the 15th Ecnec meeting of the current fiscal year held at the NEC conference room with Ecnec Chairperson and Prime Minister Sheikh Hasina... »

More than 30 workers have been reported killed in an inferno at an oil platform in Azerbaijan. A fire on an offshore oil platform in the Guneshli field near Azerbaijan has claimed the lives of 32 workers. More than 40 were rescued in an emergency evacuation as the inferno took hold. The country’s state energy company State Oil Company of the Azerbaijan Republic (Socar) said the fire started after a... »

Chief scientific officer of Bangladesh Atomic Energy Commission AKM Fazle Kabria on Saturday said uranium of 500 ppm has been found in Sylhet and Moulvibazar areas. He, however, said this is still at the study and research level whether this uranium will be commercially extractable or not. But internationally, uranium of 300ppm to 1000pmm is used for different purposes. The BAEC official disclosed this while addressing a seminar on primary... »

The government has instructed the state-run BPC to conduct a Feasibility Study (FS) on constructing 250-km fuel pipeline between Chittagong and Dhaka by 2017 aimed at reducing transport cost and stopping pilferage of fuel. “The government would install 250-kilometre fuel pipeline between Chittagong and Dhaka to save Taka 130 crore annually and ensure fuel security,” State Minister for Energy and Mineral Resources told BSS here today. He said the Bangladesh... »

Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. That spells more pain for the energy sector. Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb. According to Graves & Co., an industry... »

With global oil prices, the difference is not more than tk 10. Abul Mal Abdul Muhit informs this to international monitoring fund (IMF). A letter has been sent to managing director of IMF Mr. Kristin Legard. An economic report was sent with the latter. In the report there is detail of governments work plan. The report was sent to get the loan. Still oil price is $40 per Barrel in... »