The government yesterday approved the purchase of five liquefied natural gas (LNG) cargoes, including three from the spot market, to help meet the country’s energy demand as supplies under long-term contracts face uncertainty amid the conflict in the Middle East. The Cabinet Committee on Government Purchase (CCGP) approved the proposals at a meeting yesterday following ...
This information was disclosed during a press briefing following a committee meeting on Wednesday. A total of seven procurement proposals were tabled at the meeting. Among them, according to a proposal placed by the Energy and Mineral Resources Division, a recommendation has been made to purchase two LNG cargoes from the Switzerland-based firm ‘SOCAR Trading ...
International crude oil prices fell to a two-week low on Monday on optimism surrounding a potential peace agreement between the United States and Iran. Although significant geopolitical disagreements persist, the prospects of a diplomatic breakthrough triggered a sharp decline in global energy benchmarks. According to Reuters, Brent crude declined by USD 4.71% or 4.55% to ...
To intensify oil and gas exploration activities in the Bay of Bengal, the Bangladesh Oil, Gas and Mineral Corporation is going to invite international tenders for a total of 26 blocks in deep and shallow waters tomorrow, Sunday. The deadline for submitting tenders has been set for November 30. Relevant sources from the Energy Division ...
To meet the country’s energy demands, the oil tanker ‘MT Fossil’ carrying another 100,000 tons of crude fuel oil has reached the outer anchorage of Chattogram Port. Coming from the Port of Fujairah in the United Arab Emirates, the tanker arrived in Bangladesh using an alternative route, bypassing the Strait of Hormuz. Crude lightering operations ...
The International Energy Agency (IEA) has expressed renewed concern over the supply and pricing of fuel oil in the global market. The agency’s chief, Fatih Birol, has warned that due to rising demand, depleting reserves, and a decline in oil exports from the Middle East, the global oil market could reach a ‘red zone’ or ...
To inject new momentum into oil and gas exploration in the Bay of Bengal, the Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla) is set to invite international tenders this coming Sunday. Foreign companies will be offered exploration opportunities across a total of 26 blocks, including 15 deep-sea and 11 shallow-sea blocks. To boost the ...
Deep beneath the soil of Gazipur lies a subterranean lifeline. In a defiant move to shatter the country’s crippling reliance on expensive, volatile imported liquefied natural gas (LNG), Bangladesh has officially launched a relentless pursuit of its own buried wealth. Yesterday, the battle lines for energy sovereignty were drawn. State Minister for Power, Energy, and ...
After being stranded in the Persian Gulf for more than two months due to the Iran war and military tensions, two Chinese oil supertankers have crossed the blockaded Strait of Hormuz. Amid the tense situation in the Middle East, two Chinese supertankers carrying 4 million barrels of fuel oil have passed through the blockaded Strait ...
The global fuel oil market, which surged suddenly due to Middle East tensions surrounding Iran, has seen some relief following a shift in the United States’ stance. Mounting military tensions in the Middle East centered around Iran had caused severe volatility in international oil prices. However, some stability has returned to the market after US ...
As the nation grapples with an emerging energy deficit, a special parliamentary committee has reviewed critical infrastructure progress, the expansion of renewable energy, and sweeping updates to gas marketing policies. Facing mounting pressure over the country’s energy landscape, the 13th National Parliament’s special committee convened its second critical meeting on Tuesday. Chaired by the Minister ...
The World Bank approved USD 350 million in additional financing on Friday to help Bangladesh secure liquefied natural gas (LNG) imports. State-owned Petrobangla will utilise the funds to manage mounting external payment obligations. The fresh capital injection is an extension of the Energy Sector Security Enhancement Project, which originally secured a USD 350 million approval ...
Shaking off nearly two decades of stagnation, the Bangladesh government is gearing up for a major push into offshore energy exploration. Official sources within the Ministry of Power, Energy, and Mineral Resources confirm that an international tender for deep-sea oil, gas, and mineral exploration in the Bay of Bengal is expected to be floated within ...
The Energy and Mineral Resources Division denied media reports on Friday claiming the United States granted Bangladesh a waiver to import Russian petroleum. An official press release explicitly rejected allegations regarding an impending bilateral diesel purchase. Unverified news articles published earlier that day alleged a new 60-day special exemption took effect on 11 April ...