State-owned Bangladesh Petroleum Exploration and Production Co Ltd (Bapex) planned to venture into offshore petroleum exploration in Bangladesh for the first time after signing a preliminary deal with Australia’s Santos Ltd. earlier this week to drill an exploration well in Block 16.
“Yes, the agreement (with Santos) was signed and we are still talking to them about the drilling,” a Bapex executive told Rigzone.
Under the deal, the Bangladeshi company and Santos will carry out offshore drilling at the
Magnama struc...
Bangladesh Petroleum Exploration and Production Company (Bapex) has filed a case with an international arbitration court against Niko Resources Bangladesh Ltd. Bapex claimed a compensation of around Tk 9,189 crore and annulment of the previous cases against itself.
Bapex filed this case at the International Centre for Settlement of Investment Disputes (ICSID).
According to the related sources, Niko has pleaded guilty in the Canadian court to bribing a Bangladeshi minister for getting the lease of gas fields. Bapex submitted evidences to the ICSID on blown out gas fields that was generated by different international investigators and referred to that Canadian verdict indeed, while filing the case.
Among the evidences, there is a copy of cheque that was used to transact the bribe...
Aiming to establish uninterrupted power connection between capital Dhaka and the western region, the government has launched a fresh project to install a 400KV transmission line from Amin Bazar to Mongla via Mawa.
The modern and high-capacity transmission line would also bring the surplus electricity of Rampal coal fired power plant to Dhaka, reports BSS.
Power Grid Company of Bangladesh will implement the project involving Taka 1,356 crore by June, 2020. Asian Development Bank (ADB) would provide Taka 663 crore as project assistance while PGCB would contribute Taka 155.22 crore from own fund and the remaining
Bangladesh has made huge strides in expanding its power generation capacity, but needs to concentrate more on weaknesses in its transmission and distribution system.
That was the conclusion of a panel of local experts at FinanceAsia’s 4
th annual Bangladesh Investment Summit, held at the Ritz Carlton in Hong Kong on Tuesday.
The country’s foremost power expert, Dr Tawif-e-Elahi Chowdhury said the improvement in generating capacity since 2009 had been nothing short of a ‘miracle’.
Chowdhury attributed the transformation to “the audacious and visionary leadership” of Prime Minister Sheik Hasina, to whom he is an energy adviser.
Bangladesh certainly has ambitious energy targets as it tries to lift the world’s eighth largest
The oil price up will go up to $41 a barrel this year when agriculture produces will be cheaper, the latest market update of the World Bank (WB) said.
The WB its latest Commodity Markets Outlook attributed the rebounding oil prices to the improving market sentiment, a weakening dollar and receding supply. The projection is 13.51 percent higher from its previous forecast of $37 a barrel, reports BSS.
The WB revised forecast came only two days after Bangladesh government cut the prices of major petroleum products, ranging from 4.41 percent to 10.41 percent.
Bangladesh-China Power Company Limited (BCPCL) will invest $1.56 billion in a coal-fired plant near a proposed sea port south of Dhaka to produce 1,320 megawatts (MW) of electricity by 2019, the head of the joint venture (JV) said on Wednesday.
Two units with a capacity of 660 MW each will be set up at Dhankhali in Patuakhali district, 319 kilometers (199 miles) south of Dhaka and close to the proposed Payra sea port, said A.M. Khurshidul Alam, BCPCL’s managing director.
