Power & Energy

Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day. Brent crude futures had risen $2.42, or 2.6 per cent, to $95.44 a barrel by 0641 GMT …

US energy giant Chevron Bangladesh has received approval for expansion of the Bibiyana gas-field with an additional 60 Square Kilometers “flank” area, aimed at producing low-cost gas from local fields to meet a severe energy crisis in the country, a top official said. The approval came up from the Energy …

Bangladesh is in discussion with Russia to procure crude and refined oils, the Russian envoy in Dhaka said Wednesday, as alternative trading arrangement is envisaged as a last resort amid a global crisis. “A number of initiatives regarding the supplies of Russian crude and refined oil are being discussed, both …

Bangladesh had been performing exceptionally well before the Covid-19 pandemic. The economy expanded, the per capita Gross Domestic Product (GDP) increased, reserve of dollar grew, inflation was low and poverty levels were decreasing. Bangladesh’s economy also started to recover well from the Covid-19 economic shock, and the economy had gradually …

Bangladesh Power Development Board (BPDB) has proposed to allow true-up payment method for fuel imports for private power plants. True-up is a payment made post-closing to adjust for any difference between the purchase price, which was determined on a transaction’s closing date and based on estimated financial metrics, and the …

Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would cut output wore off. Brent crude futures for October settlement were down 6 cents, or 0.06 per cent, to $100.16 …

For the past two months a storage tank of state-run Padma Oil Company containing nearly 6,000 tonnes of furnace oil has been kept sealed off by Custom House, Chattogram on charges of dodging duty of Tk 116.74 crore. According to customs documents, 19 consignments comprising some 45 tonnes of furnace …

The domestic fisheries sector is now in deep trouble as fuel price hike is affecting their fishing and transportation costs. They requested the government to provide diesel at previous prices for survival of the sector. The Bangladesh Marine Fisheries Association (BMFA) recently urged the Prime Minister’s Office (PMO) to take …

Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive US interest rate hikes will weaken the global economy and dent fuel demand while a strengthening dollar also added to pressure. Brent crude futures for October settlement declined $1.20, or 1.2 per cent, to $95.52 …

Gas distribution companies asked the National Board of Revenue to return Tk 1559.48 crore which was realised as additional tax at source on gas bills from fiscal years 2015-16 to 2021-22. The companies said that the NBR realised the tax on gas bills instead of the companies’ distribution margins, making …