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Energy

Govt cuts fuel oil imports by up to 66pc

State-run Bangladesh Petroleum Corp will import just one 30,000-mt cargo of 180 CST fuel oil with 3.5% sulfur content, per month instead of the two-three cargoes it was importing earlier, amid surplus supply at its storage tanks, company chairman AM Badrudduja said Monday. “We have requested our supplier to provide less fuel oil as we are now taking one 30,000-mt 180 CST high sulfur fuel oil cargo per month instead of two-three per month, to cope with the existing oversupply,” he said. bpc oilBadrudduja did not say how long BPC would continu...

BD among strongest performers on electricity access in Asia

Asian countries are making a vital contribution to achieving global sustainable energy goals, a new World Bank report finds. But while the region performs strongly on ensuring electricity access for people and using more modern renewable energy, there is room for further improvement on energy efficiency and access to clean, smoke-free cooking. The report is the second in a series that tracks the world’s progress toward the three goals of epa01139850 A Bangladeshi village girl reads a book with his brother with the help of a portable renewable lamp in Singra, Natore,... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Naphtha draws slightly better price

Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Swiss Singapore Overseas Enterprises at a discount of 10 cents to Singapore quotes, slightly up from the last sale. bpc oilThe trading company, which entered Bangladesh's naphtha market for the first time, quoted the best price among eight firms competing in the tender for the cargo, lifting over June 24-26 on a free-on-board (FOB) basis from Chittagong, a company official said on Tuesday. Asia's naphtha crack eased to $104.38 a tonne on Monday with limited spot trades a...

KrisEnergy to raise $ 123m for Thai, BD Dev Projects

Singapore-based KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, announced Monday an underwritten renounceable rights issue (the Rights Issue) to support the Company’s capital expenditure including to grow oil and gas production in existing fields and near-term development projects. The Rights Issue is expected to generate net proceeds of approximately $123 million (SGD 165.6 million) from issuing 440,144,838 new shares on the basis of 42 rights shares for every 100 existing shares. The rights shares will be issued at $0.286 (SGD 0.385) each, representing a

Adani, Reliance to build Bangladesh power plants

Two leading Indian power firms will build several plants in Bangladesh to produce up to 4,600 megawatts of electricity, a senior official said on Saturday. [caption id="attachment_16647" align="alignleft" width="300"]modi-hasina Indian PM Narendra Modi handing over main steering wheel of INS Vikrant to Sheikh Hasina at the Prime Minister's Office in Dhaka Saturday, June 6, 2015.[/caption] Adani Power Limited of India and Reliance Power Limited of India signed separate memorandums of understanding with state-run Bangladesh Power Development Boa...

ADB loan to address severe power shortages in Bangladesh

The Asian Development Bank (ADB) today signed the finance agreements for a loan of $75 million to Summit Bibiyana II Power Company Limited for a private sector gas-fired power plant in Bangladesh to help the country address severe power shortages. “The project will benefit households, business and industry by improving access to electricity,” said Hayato Hoshi, senior investment specialist with ADB’s Private Sector Operations adb1Department. “It will also help to further promote private sector investment in Bangladesh’s energy sector where few major in...
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