Energy Bangla

SINGAPORE, March 05, 2014: Oil prices were mixed in Asia today as fears of an immediate armed conflict in Ukraine receded, but analysts said the presence of Russian-backed troops in the Crimean peninsula continue to support prices. New York’s main contract, West Texas Intermediate (WTI) for April delivery, rose 10 cents to $103.43 in afternoon trade, while Brent North Sea crude for April eased 14 cents to $109.16. WTI fell... »

Bangladesh Petroleum Corporation (BPC) has sought tax and VAT waiver for importing high-speed furnace oil for feeding power plants, aiming to make the corporation profitable. The request was made at an inter-ministerial meeting held at the Energy and Mineral Resources Division (EMRD) on 19th February with secretary Md Mozammel Huque Khan in the chair. As per the advise of the NBR representatives, the EMRD will send an official letter seeking... »

By. Nick Cunningham: Iraq’s Deputy Prime Minister for Energy Affairs firmly stated the central government will take action, “including fiscal measures,” if Kurdistan begins exporting oil without coming to an agreement with Baghdad. The remarks came as Minister Hussain al-Shahristani spoke at a conference in London on January 28. The Kurdish Regional Government (KRG) announced in mid-January that oil had begun to flow through a pipeline towards Turkey and that... »

Tullow Oil plc (“Tullow”) on 15th january announces oil discoveries at the Amosing-1 and Ewoi-1 exploration wells in Block 10BB onshore northern Kenya. As a result of these latest successes and recently reported discoveries at Ekales-1 and Agete-1, Tullow has updated its estimate of discovered resources in this basin to over 600 mmbo. Tullow believes that the overall potential for the basin, which will be fully assessed over the next... »

The Energy Division has sought Tk 10.0 billion as subsidy for import of oil for six months in July- December, 2013, from Finance Ministry. Bangladesh’s demand for fuel is growing sharply as a shortfall of natural gas has forced it to turn to costly oil-fired power plants to resolve the crippling electricity shortages. Energy Division officials said, The Bangladesh Petroleum Corporation (BPC) required US$5.0 billion for the fiscal year 2013-14... »

Oil prices started the new year Thursday with a gain amid hopes for stronger demand following a 7 percent surge in 2013. Benchmark oil added 28 cents to $98.70 on the New York Mercantile Exchange. Hopes for the solid demand in coming months are pegged to the signs of a recovery in the U.S., which is expected to help revive other major global economies. Brent crude, a benchmark used to... »

Oil prices were mixed in thin Asian trade Monday as investors focused on a fall in US crude inventories, indicating robust demand in the world’s top consumer. New York’s main contract, West Texas Intermediate (WTI) for February delivery, was down ten cents at $100.22 in mid-morning trade while Brent North Sea crude for February gained 18 cents to $112.36. The US Department of Energy on Friday reported that crude inventories... »

Oil prices edged further down below $99 Tuesday after gaining more than $2 last week on signs of improvement in the U.S. economy. Benchmark U.S. oil for February delivery was down 20 cents to $98.71 a barrel in electronic trading on the New York Mercantile Exchange. Last week, oil rose nearly 3 percent after positive economic news that the U.S. economy had accelerated to 4.1 percent growth in the third... »

Oil prices turned lower in pre- holiday trading Monday, but retained support from bullish US economic data that have raised hopes of resurgent demand in the world’s top crude consumer, analysts said. New York’s main contract, West Texas Intermediate for February delivery, was down 10 cents at $99.22 in afternoon trade while Brent North Sea crude for February also eased 10 cents to $111.67. Desmond Chua, market analyst at CMC... »

NEW YORK, Dec 14 (BSS/AFP) – Oil prices traded mixed yesterday as Libya was expected to begin exporting more crude into a market already flush with supply. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery fell 90 cents to $96.60 a barrel. In London, Brent North Sea crude for January finished 16 cents higher at $108.83. Traders were waiting to see if a Libyan tribe... »