Power & Energy

Oil slipped on Monday in volatile trading as the release of strategic reserves by consuming nations eased concerns over tight supply amid Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal. Crude dropped by about 13 per cent last week after US President Joe Biden announced a …

The World Bank is set to provide half a billion US dollars in loan to modernise the rural electricity distribution system in Dhaka and Mymensingh regions, officials said on Saturday. After approval of the project proposal, the WB is ready to sign the $500 million loan deal with the government, …

Power Development Board (PDB) has been implementing a project to ensure a safe and dependable power supply to meet increasing demand for electricity till 2025. Rajshahi Mayor AHM Khairuzzaman Liton today inaugurated the newly constructed 33/11KV, 2X10/13.33 MVA GIS Substation at City Hat in the city under the project as …

Energy experts and representatives of consumer rights platforms urge the government not to increase gas tariffs in the country as they believe the proposed tariffs are irrational. They also say the authorities concerned should enhance their capacity, ensure transparency and reduce system losses, in order to compensate the additional expenses …

The government should not raise fuel prices in the current fiscal year despite their record spike in global markets to give some respite to the people buckling under pressures for rising costs for essentials, said the Centre for Policy Dialogue (CPD) and economists yesterday. They argued that since there is …

Speakers at a webinar on Saturday said that if gas prices are raised again for the household consumers in the current situation, it will come as a big blow to the masses amid the price hike of essentials. “Really, the people are in a grim situation… the queues for TCB …

Oil prices tumbled to their lowest levels in almost three weeks on Tuesday as supply disruption fears eased and as surging Covid-19 cases in China spurred demand concerns. Brent futures were down $6.40, or 5.9 per cent, to $100.50 a barrel at 1308 GMT, while US West Texas Intermediate (WTI) …

Oil prices fell on Sunday at the start of the session, extending last week’s decline, as a US official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine. Brent crude futures fell $1.82, or 1.6 percent, to $110.85 a barrel by 6:47 pm ET …

Crude prices surged Tuesday as the US banned Russian oil imports, while nickel prices rocketed to a record peak on Russian supply fears. While remaining below Monday’s peak of $139.13 per barrel, the main international oil contract, Brent, jumped 6.8 per cent to $131.63. The main US contract, WTI, rose …

The unprecedented hike of global oil prices amid the Russia-Ukraine war has created huge pressure on state-owned Bangladesh Petroleum Corporation (BPC) as the state agency is incurring a loss Tk 350 million every day, officials said. The state-run agency is now facing a loss of Tk 24 per litre on …