Energy Bangla

The Center for Policy Dialogue (CPD) has recommended curtailing of diesel and kerosene prices. The non-government research body, at a media briefing on Sunday, argued that these two fuel items – diesel and kerosene – are used mostly by the poorer segment of the society. “So, it will not bring about so much social and economic benefits if the government makes much profit out of these two fuels,” said the... »

Bangladesh has imported 2200 metric tonnes of diesel from India. A number of 42 waggons carrying that amount of diesel entered into the country’s territory using the Biral border situated at Dinajpur district. Prime Minister Sheikh Hasina, now in Delhi on a four-day crucial visit, and her Indian counterpart Narendra Modi jointly inaugurated the diesel import on Saturday through a video conference. The train did set off from Radhikapur of... »

India will formally commence the commercial supply of High Speed Diesel (HSD) to Bangladesh from Saturday, said Minister of State for Petroleum and Natural Gas Dharmendra Pradhan. Interacting with Indian and Bangladeshi media on the sidelines of an event at a hotel here, Pradhan said that an inaugural consignment of 2200 metric tones of HSD would be sent to Bangladesh. India plans to build a pipeline to carry HSD to... »

It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. The deal–initially aired as ‘an agreement to agree on a deal’ in September and signed at the end of November—will likely impact the market for at least the next six months. The agreement clearly states... »

Saudi Arabia is increasingly unable to control the global oil supply because of rising energy production in the U.S., Russia and Iran. “Saudi Arabia is under extraordinary pressure both internally and externally,” Dr. Jean-Marc Rickli, a risk analyst at the Geneva Centre for Security Policy, told The Wall Street Journal. The world’s biggest crude exporter is conceding ground to its rivals to enact a steep oil production cut to prop... »

Oil prices plunged 5 percent to their lowest levels this year on Wednesday as U.S. crude inventories surged much more than expected to a record high, stoking concerns a global glut could persist even as OPEC tries to prop up prices with output curbs. Crude stockpiles in the world’s top energy consumer have been rising all year, and soared last week by 8.2 million barrels, more than quadruple the forecasts,... »

Lub-rref (Bangladesh) Limited, Chittagong, announces the signing of a contract with Chemical Engineering Partners (CEP), California, USA to build a Lube Base Oil Refinery in Chittagong. This facility will be the first of its kind in Bangladesh; it will treat used lube oil and refinery by-products combining two purposes in a single plant. “We are pleased to increase our global clients by bringing the CEP Process to this Southeast Asian... »

The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. Oil prices have stabilized and the cost cutting measures implemented over the past three years should allow companies to turn a profit even though crude trades for about half of what it did back in 2014. The collapse of oil prices forced the majors to... »

State Minister of Power, Energy and Mineral Resources Nasrul Hamid said, we asked the government for permission to reduce prices, but the global price of oil started rising suddenly. According to the World Bank’s calculations, the price of oil may rise further. As a result we cannot bring down the price of oil now. Asked how much the Bangladesh Petroleum Organisation earns through the sale of diesel and furnace oil,... »

Eastern Refinery Limited (ERL) is going to enhance its capacity by setting up another Refinery unit. The state-run Bangladesh Petroleum Corporation (BPC) has taken initiatives to conduct the ‘installation of ERL Unit-2’ project. BPC signed a deal on Wednesday with a French company called Technip to install this second unit at ERL. According to the deal, Technip, which installed the first unit of ERL will be responsible for a Front... »