Energy Bangla

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Dhaka Monday,  Feb 6, 2023

Petroleum

Bangladesh will start importing diesel from India through a pipeline on a trial basis in June, Nasrul Hamid has said. The state minister for power, energy and mineral resources revealed the information in parliament on Monday. The work to set up the 131.5-kilometre pipeline, including five kilometres in India, has ended, according to him. Now the pre-commissioning work of the India-Bangladesh Friendship Pipeline is ongoing, he said. “The commissioning of... »
The government has greenlighted proposals to import 2.1 million tonnes of diesel and other sorts of refined fuel oil from six countries at Tk 190 billion this year. Bangladesh Petroleum Corporation would bring in 60,000 tonnes of diesel throughout the year from India’s Numaligarh Refinery Limited at Tk 5.45 billion, Additional Cabinet Secretary Sayeed Mahbub Khan said. Although fuel oil prices change in the international market, the diesel would cost... »
State Minister for Power, Energy, and Mineral Resources Nasrul Hamid has expressed Bangladesh’s interest in importing more petroleum products at an affordable price from India. He conveyed this while making a courtesy call on India’s Minister of Petroleum and Natural Gas Hardeep Puri in Delhi. The Power Division issued a press release in this regard. Nasrul Hamid discussed diesel import, India-Bangladesh friendship pipeline, Engineers India Limited (EIL), increasing energy cooperation,... »
Bangladesh Petroleum Corporation (BPC) Chairman ABM Azad today said there is no possibility of reducing fuel oil price for the time being. “BPC is still losing Tk 2-3 per litre in diesel sales, however there is profit in selling petrol and octane. As such, there is no possibility of reducing the price of fuel oil for the time being,” the BPC chairman said at a press conference at their office.... »
A lighter vessel with 11 lakh liter of fuel sank after being hit by another vessel in Meghna river due to dense fog in sadar upazila of Bhola district early Sunday. Report UNB KM Shafiul Kinjal, media officer of Coast Guard South Zone, said the vessel named ‘Sagar Nandini-2’ carrying 11 lakh litre of fuel from Chattogram port sank in the Meghna as another vessel hit it at Tulatuli Majher... »
Amid the record price hike of commodities, the government is considering bringing a bit of relief to people as it has asked the Bangladesh Petroleum Corporation (BPC) to find out if the fuel oil prices can be cut in line with the downward trend in the global market. The Ministry of Power, Energy and Mineral Resources also asked the BPC to let it know if the price could be adjusted... »
State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said that a policy preparation work is underway to allow private sector for importing and selling fuel. “Ensuring supply of fuel at a lower price is the main problem now. Apart from the government, private sector can also import fuel and sell it to the consumers,” he said this while addressing a seminar at Bidyut Bhaban as a guest... »
Oil prices fell more than 3% on Wednesday, continuing a streak of volatile trading, as the Group of Seven (G7) nations considered a price cap on Russian oil above the current market level and as gasoline inventories in the United States built by more than analysts’ expected. Brent futures for January delivery fell $2.95, or 3.3%, to settle at $85.41 a barrel. U.S. crude fell $3.01, or 3.7%, to $77.94... »
Saudi Arabia rejected as “not based on facts” statements criticising the kingdom after an OPEC+ decision last week to cut its oil production target despite US objections, saying it serves the interests of both consumers and producers. The OPEC+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volatility, the Saudi foreign ministry said in a statement on Thursday.... »
State-owned Bangladesh Petroleum Corporation (BPC) will probably need to pay an additional $800 million to $1 billion this fiscal for costly fuel imports due to soaring fuel prices in the international market and fluctuations in dollar rate. Besides, additional import of liquid fuel due to scarcity of gas has swelled the import bills, BPC Chairman ABM Azad told. “We have to spend around $4 billion to procure 6.5 million tonnes... »