Energy Bangla

Energy electricity and environment news portal

Dhaka Tuesday,  Oct 4, 2022

Petroleum

OPEC and its allies led by Russia on Monday agreed on a small oil production cut to bolster prices that have slid on fears of an economic slowdown. The oil producers will reduce output by 100,000 barrels per day (bpd), amounting to only 0.1% of global demand, for October and also agreed they could meet any time to adjust production before the next scheduled meeting on Oct 5. The decision... »
The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia’s energy resources – caps that Moscow said would lead to significant destabilisation of the global oil market. “Companies that impose a price cap will not be among the recipients of Russian oil,” Kremlin spokesman Dmitry Peskov told reporters in a conference call, endorsing comments made on Thursday by Deputy Prime Minister... »
Tawfiq-e-Elahi Chowdhury, the prime minister’s adviser on power, energy and mineral resources, believes the United States will not stand in the way of Bangladesh purchasing fuel from Russia in the face of a volatile global oil market. In a media briefing at the Prime Minister’s Office on Wednesday, Chowdhury said his view on the matter was based on his recent meeting with Jose Fernandez, US under secretary for economic growth,... »
State Minister for Power, Energy and Mineral Resources Nasrul Hamid today asked the officials concerned to implement initiatives taken to make filing station quality and aesthetic. “It is must to keep wash block clean and adequate in the filing stations,” he said this while speaking at a review meeting on GPS location based filling station management system and layout/design/model preparation for new filing station in light of existing policies at... »
Experts think the government’s decision to slash fuel prices by Tk 5 a litre after the 50 percent average hike 23 days ago will not help in the “slightest” to ease the lives of citizens. However, many experts believe it will allow transport owners to save up expenses on daily trips. On Aug 6, the government increased diesel and kerosene prices from Tk 80 to Tk 114 per litre, petrol... »
The government has reduced the prices of fuel oil by Tk 5 a litre 23 days after raising the prices by as much as 51.68 percent. The new prices of diesel, kerosene, octane and petrol will be effective from Monday night, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid. The decision to cut the prices came after the authorities on Sunday lowered the duty on diesel imports... »
The price of fuel will be adjusted soon, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid. “We’re planning to adjust fuel price in line with the global market trend tomorrow or day after tomorrow,” Nasrul hoped. Talking to reporters at his ministry conference room the state minister said that concerned agencies have been assessing fuel price for adjustment. “Decision will come tomorrow or day after tomorrow in... »
Oil prices ended higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the U.S. Federal Reserve about economic pain ahead. Brent crude futures rose $1.65 to settle at $100.99 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 54 cents to settle at $93.06 a barrel. Both contracts... »
The Parliamentary Committee on Public Undertakings on Tuesday recommended adjusting the price of fuel in the country with the international market. The parliamentary watchdog suggested it to the concerned ministry, reports BSS citing a press release. The committee made the recommendation at its 15th meeting held at the Jatiya Sangsad (JS) Bhaban with its Chairman A S M Feroz in the chair. The concerned ministry is also recommended by the... »
Petrol pump owners in the country have threatened to go on strike on August 31 if their 5-point demands, including raising their sales’ commissions, are not met within next 7 days. Addressing a press conference at Dhaka Reporters Unity (DRU) auditorium in the city, the leaders of Bangladesh Dealers, Distributors, Agents and Petrol Pump Owners Association said they have no option but to close the filling stations as their commission... »