Energy Bangla

Energy electricity and environment news portal

Dhaka Friday,  Sep 17, 2021

Petroleum

BSS: With installation of the Single Point Mooring (SPM) having double pipeline facility to supply imported fuel at Moheshkhali island, the government will save at least Taka 800 crore per annum. “Bangladesh Petroleum Corporation (BPC) initiated the SPM project to carry fuel through pipelines from mother vessels quickly, which would also save Taka 800 crore per annum,” State Minister for Power Energy and Mineral Resources told BSS here today. He... »
M AZIZUR RAHMAN: Bangladesh Petroleum Corporation (BPC) will strike a deal with the consortium of Japanese Marubeni, ‘controversial’ Vitol Asia Pte Ltd and local PowerCo International Pte Ltd to build an LPG terminal. Energy ministry has asked it to ink a memorandum of understanding (MoU) in order to construct the facility at Moheshkhali island in the Bay of Bengal. In a letter last week, energy and mineral resources division under... »
Md Abu Bakar Siddique has been appointed as new Chairman of the Bangladesh Petroleum Corporation (BPC). The Ministry of Public Administration issued a circular in this regard on Thursday, saying the order will come into immediate effect. Siddique, who has been serving as additional secretary (Political and ICT) at the Public Security Division of the Ministry of Home Affairs, was promoted to secretary and posted as Chairman of the BPC,... »
While the international oil market saw its worst day on Monday as US crude oil price dropped below zero, Bangladesh began preparing to hoard 1.1 lakh tonnes of oil to take advantage of the situation. This extra oil is good enough for 10 days of consumption by the nation in a normal situation. Oil prices have been falling throughout April – which triggered many nations, including the US, China and... »
The price of a barrel of Brent Crude – the UK benchmark for oil – has slipped below $20, its lowest level since 2002. The more than 25% slump followed negative prices being recorded for a barrel of West Texas Intermediate (WTI), the benchmark for US oil. The declines are a testament to the sharp decline in energy demand due to coronavirus lockdowns across the world. Butthe negative oil prices... »
U.S. crude prices fell to their lowest level since 2002, briefly dropping below $20 a barrel, as investors grew more pessimistic about oil demand. West Texas Intermediate futures, the main U.S. crude gauge, were down 6.5% at $20.11 a barrel after hitting their lowest level since February 2002 on Monday. Brent crude, the global benchmark, fell 6.4% to $26.18 a barrel.
NEW DELHI: Oil prices will give up the recent surge if there is no major retaliatory action by Iran within weeks since the top Iranian general’s killing has raised regional tension and stoked fears of supply disruption but hasn’t changed the actual demand-supply situation, chairman of Hindustan Petroleum Corp has said. “The news has been factored in the price. Now it’s about the perception of the people, whether it will... »
Petrol station owners and workers have suspended an indefinite strike until Dec 15 after the government assured them of looking into their 15-point charter of demands. At a meeting with Bangladesh Petroleum Corporation in Dhaka on Monday, the Bangladesh Petrol Pump and Lorry Tank Malik-Sramik Oikya Parishad and Jalani Tel Paribeshak Samity decided to halt the strike. “We don’t want people to suffer. We’re convinced that our demands will be... »
The sale of fuel oil has stalled in Rajshahi, Rangpur and Khulna as petrol station owners enforce an indefinite strike to press home a 15-point charter of demands, including an increase in the commission on fuel sale and insurance for tank-lorry workers, among others. Bangladesh Petrol Pump and Lorry Tank Malik-Sramik Oikya Parishad and Jalani Tel Paribeshak Samity started the strike at 6am on Sunday, which is set to affect... »
Oil prices rose in early trading on Friday on hopes that the U.S.-China trade negotiations might result in a limited breakthrough. President Trump said that talks on Thursday went well, and the two sides resume negotiations on Friday. An attack on an Iranian tanker (more below) also bolstered oil prices. IEA cuts demand forecast. The IEA cut its demand forecast once again to just 1 mb/d in 2019 and 1.2... »