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Energy

Indian co to explore in Bay of Bengal

ONGC Videsh Ltd (OVL) and its partner Oil India Ltd (OIL) have signed contracts to explore for oil and gas in two areas in Bangladeshi waters. An equal joint venture of OVL, the overseas arm of state owned Oil and Natural Gas Corp (ONGC), and OIL on Monday signed production sharing contracts (PSC) for shallow water blocks SS-04 and SS-09 in Bangladesh. “OVL along with OIL formed a consortium (50:50) and participated in the Bangladesh Offshore Bidding Round 2012, launched by Bangladesh Government during December 2012,” the company said in a statement. ongc

Pvt oil-fired power plants seek permission to import fuel

Two dozen privately owned oil-fired power plants in Bangladesh have asked the government for permission to import petroleum products to use for electricity generation, a senior energy ministry official said Wednesday. The plant owners have objected to the quality of fuel currently being supplied to them by state-owned Bangladesh Petroleum Corp., which imports required oil products for the privately owned power plants. power plantThe ministry official, who asked not to be named, said the plants amounted t...

Govt puts LNG terminal project on fast-track route

The government has put the country's first LNG import terminal project on a fast-track route for implementation on a priority basis, to ease the country's energy crisis and accelerate economic growth, said Petrobangla Chairman Hussain Monsur. The first meeting of the Fast Track Project Monitoring Committee, chaired by Prime Minister Sheikh Hasina, held in Dhaka on Wednesday identified the project as fast-track one, among others. petro banglaDuring the meeting, the prime minister directed the Energy and...

Will water constrain energy future?

Energy and water security are crucial to human and economic development. The two resources are now more interconnected than ever—significant amounts of water are needed in almost all energy generation processes, from generating hydropower, to cooling and other purposes in thermal power plants, to extracting and processing fuels. Conversely, the water sector needs energy – mainly in the form of electricity – to extract, treat and transport water. Both energy and water are used in the production of crops, including those used to generate energy through biofuels. But energy and water resources are under unprecedented pressure, and there is growing competition for their use from people, industries, ecosystems, and growing economie...

Bibiyana-1 power plant through bidder’s credit

The government is going to implement the 450MW Bibiyana-1 power plant project through bidder’s credit instead of independent power producer (IPP), after cancelling Summit Group’s bid. According to official sources, the Power Division has taken up an initiative in this regard last week on the basis of a recommendation of the government’s Power Development Board (PDB). Bibiana-gasAn official at the Power Division said the bidder’s credit means the project will be implemented in the public sector through funding by the contractor....

US witnessing biggest oil boom in 40 years

The United States’ average daily oil production is on track to surge by 1 million barrels per day this year, the biggest one-year jump in the nation’s history, according to latest official figures. The country has pumped an average of 7.5 million barrels of crude per day in 2013, up from 6.5 million barrels per day in 2012. This breaks last year’s record, when oil production jumped by 837,000 barrels per day year-on-year, reports the PTI. oil USThe data is evidence of the rapid turnaround in US’ e...