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ConocoPhillips-Statoil jt venture set to get its way

At long last, the joint venture of US oil major ConocoPhillips and Norway’s Statoil looks set to be awarded all three of the deep sea blocks in the Bay of Bengal it desires, with the Cabinet Economic Affairs Committee slated to consider their proposal in its meeting on Wednesday. gasolinEarlier, the government’s decision was to award only two blocks to the US-Norwegian JV. But now the government seems to be backtracking from its earlier stance that no single company or joint venture will get more than two blocks in the deep sea. According to...

4 gas cos `dodged’ Tk 19,594cr in taxes

The country’s tax administration has demanded a total of Tk 19,594 crore from four major gas distribution companies, alleging that the companies dodged the amount in value-added tax and supplementary duty from 2009 to 2014. gasOfficials of the National Board of Revenue told that Titas Gas Transmission and Distribution Company, Karnaphuli Gas Transmission and Distribution Company, Bakhrabad Gas Transmission and Distribution Company and Jalalabad Gas Transmission and Distribution Company dodged the taxes between July 2009 and March 2014, reports the New ...

Ship recycling project begins

An agreement between the International Maritime Organization (IMO) and the Government of the People’s Republic of Bangladesh has been signed for the parties to collaboratively improve safety and environmental standards in the country’s ship-recycling industry. ship breakingA Memorandum of Understanding formalizing the cooperation between the two was signed by Nicolaos Charalambous, Director, Technical Cooperation Division, IMO and Md. Ashadul Islam, Additional Secretary, Economic Relations Division of the Ministry of Finance of the G...

Bangladesh tenders to sell 170,000 bbls naphtha

Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for March 11.13 loading from Chittagong, a company official said on Monday. napthaThe tender will close on Feb. 18, with validity up to Feb. 26. The offer came at a time when the Asian naphtha crack extended losses for a third straight day on Friday to reach its lowest since Jan. 30, dragged down by the stronger Brent crude price. State-owned BPC sold a same-size cargo to Socar Trading at premiums of $3.29 a barrel to Singapore quotes for Nov. 27-29 l...

How tourism is taking off in Bangladesh

‘Come before the tourists visit” is the old Bangladesh tourist board slogan that had caught my eye and partially inspired my trip. Two days after arriving in the country, I unexpectedly meet the woman who came up with it. I’m at Wilderness, a resort in the north-eastern region of Sylhet, where the majority of British-Bangladeshis hail. It’s owned by Nazim Choudhury, whose glamorous wife, Geeteara, now runs her own advertising company. Yasmin Choudhury, founder of Bangladesh specialist Lovedesh.I tell them I’m heading to Cox’s B...

Petronet in race to build LNG terminal in BD

India's biggest gas importer Petronet LNG is one of the companies shortlisted to build a liquefied natural gas terminal in neighbouring Bangladesh, a company executive said on Thursday. LNG"They called for expressions of interest and we participated and have been shortlisted by the Bangladesh government," Managing Director A.K. Balyan told reporters in New Delhi. Balyan said that the company selected will be responsible for sourcing of gas, building and operating of the terminal, which will have a capacity of 2.5 to 5 million tonnes per annum.

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