Energy Bangla

Royal Dutch Shell chief executive Ben van Beurden has told the BBC a recovery in the price of oil is hard to foresee. ‘It is a very, very volatile business in terms of supply and demand. The oil price responds to very small mismatches between supply and demand,’ he told BBC Radio 4’s Today program. The price of oil has roughly halved in the past year, to around $50 per... »

As traders, investors and pundits, we all like to think that what we do is akin to a science. We believe that by working harder and being smarter we can give ourselves an edge, that enough research will reveal to us the next move, either a long term trend or an intraday blip on a chart, and that we can profit from that knowledge. Usually, especially over longer time spans,... »

Finance ministry want fuel sells half profit, not repayment of debt, from state owned Bangladesh Petroleum Corporations (BPC). In this connection BPC initiated to give the profit. Technical committee of finance ministry has decided the issue in a meeting recently. Last year, BPC gained 5,500cr profit from selling oil. Finance ministry want 2500cr from this. State minister of power Energy and Mineral Resources Nasrul Hamid placed the information to the... »

The price of oil could more than halve again, to just $20 (£13) a barrel, experts at Goldman Sachs are predicting, a shift which would spell big savings for motorists but cast doubt on the viability of North Sea oilfields. Homeowners, motorists and many industries would gain although a further price collapse could prompt thousands more job losses in the struggling North Sea sector and could eventually hit Treasury tax... »

After decades of exhaustive attempts to overcome the dirty reputation of oil sands, we finally have an environmentally-friendly and low cost method to tap into these vast resources in the state of Utah—good news both for Mother Nature and all oil and gas investors. MCW Energy Group’s CEO, former Exxon President of the Arabian Gulf region, Dr. R. Gerald Bailey, tells Oilprice.com in an exclusive interview that his hunt for... »

Crude prices have dived in Asia, with US oil trading below the key $US40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply. US benchmark West Texas Intermediate (WTI) for October delivery fell $US1.04 to $US39.41 while Brent crude for October eased US91c to $US44.55 in late-morning trade. WTI extended losses after briefly dipping to $US39.86 on Friday in New York — breaking $US40 for... »

The Cabinet has endorsed a proposal to make into a law the Bangladesh Petroleum Corporation Ordinance, which was promulgated during the military regime. The final approval for the draft ‘Bangladesh Petroleum Corporation Law, 2015’ came at a regular meeting on Monday, presided over by Prime Minister Sheikh Hasina. Cabinet Secretary Muhammad Musharraf Hossain Bhuiyan later told reporters there was no marked change in the final sanction of the draft law... »

The government will lower fuel prices after months of resisting downward revision despite the freefall of global oil prices. The prices of fuel oil in the domestic market would be re-fixed in September by adjusting them with the international prices, Finance Minister AMA Muhith said on Sunday. The steady fall in the international market for over a year has made it clear that oil prices in Bangladesh will drop after... »

The finance ministry has issued a counter guarantee of $200 million in favour of Bangladesh Bank as the central bank facilitates the Bangladesh Petroleum Corporation in sourcing foreign fund for importing fuel oil. The fund will be sourced from International Islamic Trade Finance Corporation, which requires a guarantee from the central bank and a counter guarantee from the government, a top finance official said. ‘We have issued counter guarantee of... »

The Bangladesh Petroleum Corporation on Monday received only two bids for exporting the first consignment of natural-gas condensate — a source of petrol and octane. BPC floated open tenders on July 16 inviting interested companies to submit the bids by Monday to buy 120,000 barrels or nearly 140,000 tonnes of condensate from Chittagong between August 23 and 25. The bidders were asked to offer price of the gas condensate in... »