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Category Archives: Power & Energy

Oil rebound pulls equities in its wake

 LONDON, Feb 9, 2017 (AFP) : Oil prices held equity markets in their sway on Wednesday, with stocks perking up as prices for crude rebounded despite data showing abundant US production. Increasing uncertainty about France’s political outlook and fears of another debt crisis brewing in Greece also sent yields on European government debt higher and had equities struggling for much ... Read More »

Deep Sea Blocks: Posco Daewoo closing in on DS-12?

businessnews24bd.com The Energy Division has sent a proposal to the Cabinet Economic Affairs Committee to approve a deal with Posco Daewoo International Corporation for deep sea block DS-12 for oil and gas exploration. Petrobangla, the state hydrocarbons agency, has already signed an initial deal with the South Korean company for the block on December 7 last year. Officials said once ... Read More »

Businesses to get power connection in 28 days: Power Division

The power division will drastically reduce the time for new electric connections to investors in an effort to improve Bangladesh’s ranking in the World Bank’s ‘doing business’ ratings, reports bdnews24.com  “The allotment time will be brought down to 28 days,” Secretary In-Charge of the division Ahmad Kaikaus announced on Saturday at a BIDA workshop in a Bahubal resort in Habiganj. ... Read More »

8 power plants with 5,925-MW capacity under implementation: Nasrul

businessnews24bd.com   State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said there are eight power plants having 5,925-MW generation capacity in the public and private sector are now under implementation in the country and the plants will be completed in phases from 2018 to 2021. The state minister made the disclosure while replying to a question from ... Read More »

Govt reverses decision to reduce fuel prices

The government has reversed its decision to reduce the price of fuel oil, reports bdnews24.com  State Minister of Power, Energy and Mineral Resources Nasrul Hamid Bipu told the media on Wednesday the reversal decision was made because of recent trends in the global oil market. “The price of fuel oil was to be reduced in two stages,” he said. “We ... Read More »

Oil prices on track for greatest yearly percentage gain since 2009

Oil prices are on track for their biggest annual percentage gain since 2009 on the back of an agreement struck between OPEC and non-OPEC countries to cut crude production output, reports bdnews24.com  US benchmark West Texas intermediate (WTI) crude futures were up 23 cents to $54.00 at 0746 GMT. Brent front-month March crude oil futures rose 31 cents to $57.16. ... Read More »

Govt to cut fuel price in Jan: Muhith

businessnews24bd.com Finance minister Abul Maal Abdul Muhith on Wednesday said the price of fuel oil will be curtailed in January next year. “I wanted to reduce the oil price in this December, but could not do so. It will now be done in January,” said the finance minister while talking to reporters at his office at the Bangladesh Secretariat. Muhith ... Read More »

Oil above $55 ahead of supply cut deal

World Desk Oil edged further above $55 a barrel on Tuesday, drawing support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday. 1 Jan is the official start of the deal agreed by the Organization of Petroleum Exporting Countries and several non-OPEC producers to lower production ... Read More »

Sikkim eyes Bangladesh market for export of hydel power from Teesta

businessnews24bd.com The government of India’s Sikkim state is in talks with authorities in Dhaka to export hydroelectric power to Bangladesh, reports The Economic Times.  It said the Power Trading Corporation (PTC) has been tasked to explore possibilities of export to Bangladesh, ahead of the commissioning of the 1200-megawatt Teesta-III project in North Sikkim in 2017. Teesta is a common river ... Read More »

Gas crisis hits household activities

The gas stove is of no use for the woman in Rayerbazar area of Dhaka city. She has to make it work with a makeshift stove of biomass fuel to cook her meal. “It takes long hours to cook,” the woman, who wanted not to be named, said about their daily suffering.  She is just one of many. Gas crisis ... Read More »

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