Category: Energy and Power

The government recently hiked the prices of jet fuel for the second time within two weeks as a worsening global supply crisis puts pressure on prices.

the price of jet fuel for domestic travel has been hiked by Tk24.79 to Tk227.08 per liter, announced the Bangladesh Energy Regulatory Commission (BERC) in a noti?cation. The price of jet fuel for international ?ights has been hiked to $1.4806 from $1.3216.

earlier, on 24 March, the BERC had hiked the prices of jet fuel by 80% for domestic travel, and nearly 79% for international travel in the wake of the Iran war and related supply disruptions.

Russian Deputy Prime Minister Alexander Novak recently instructed the energy ministry to draft a resolution banning gasoline exports, the Russian government said.

the state-run TASS news agency earlier reported that the ban would remain in place until July 31. Novak said that turmoil in the global oil and oil products market, caused by the crisis in the Middle East, is leading to signi?cant price ?uctuations.

at the same time, the high demand for Russian energy resources in foreign markets remains a positive factor, he added. Crude oil processing volumes remain at last year’s level, ensuring a stable supply of oil products, the government said in a statement. Several regions in Russia and parts of Ukraine under Russian control were reporting gasoline shortages last year after Ukraine stepped up attacks on Russian oil re?neries and amid a seasonal surge in fuel demand

The Power Division has prioritized the energy sector as a key focus area as it moves to meet the country’s rising electricity demand in summer amid growing global uncertainties.

the country currently has a total installed power generation capacity of 32,332 MW, including 28,919 MW from grid-based sources, while daily demand stands at around 14,50015,000 MW, according to an of?cial document. However, as the sweltering heat of summer approaches, the stability of the national grid faces a complex set of challenges. Despite having suf?cient capacity to meet existing demand, the national grid is expected to come under pressure during the peak summer months, when consumption surges and localized outages become more frequent. These disruptions are largely driven by maintenance requirements, storm damage, and infrastructure limitations in the transmission and distribution networks

Finance Minister Amir Khosru Mahmud Chowdhury recently said that Bangladesh would work with the Asian Infrastructure Investment Bank (AIIB) to address the ongoing energy crisis and support future development priorities. He revealed this while talking to reporters outside the Prime Minister’s Of?ce (PMO) in the city’s Tejgaon area following a meeting held between Prime Minister Tarique Rahman and an AIIB delegation there. The ?nance minister said discussions were held on how Bangladesh will collaborate with AIIB, particularly in the context of the current global and domestic energy crisis, which is creating pressure not only on Bangladesh but on economies worldwide.

to tackle this pressure, Chowdhury said, talks were also held on budget support, and AIIB has agreed to provide budget support to Bangladesh.

The Border Guard Bangladesh (BGB) has been deployed at 19 fuel depots across the country to prevent hoarding, maintain discipline in fuel distribution, and ensure uninterrupted supply of petroleum products.

the information was disclosed in a press release issued on 28 March, signed by BGB Headquarters’ Public Relations Of?cer Md Shariful Islam. According to the statement, in the context of the ongoing Middle East crisis, rising global fuel prices and supply shortages have led to attempts at unauthorized hoarding. To prevent such activities, maintain order in fuel marketing, and ensure continuous supply, the deployment has been carried out under the directive of the Ministry of Home Affairs.

Environment, Forest and Climate Change Minister Abdul Awal Mintoo held a meeting with Pranay Kumar Verma, the High Commissioner of India to Bangladesh, at the Bangladesh Secretariat in Dhaka recently. During the meeting, both sides emphasized strengthening bilateral cooperation in environmental protection and tackling climate change. The discussion covered a range of areas including capacity development, research and knowledge sharing, circular economy, waste management, renewable energy use and improving energy ef?ciency.

the two sides also highlighted the need for joint initiatives to reduce carbon emissions and strengthen environmental governance. Both parties stressed the importance of sharing experiences in protecting the Sundarbans, as well as collaboration in carbon credit mechanisms, social forestry and green development initiatives. Minister Abdul Awal Mintoo said Bangladesh is working to strengthen bilateral cooperation with neighbouring India and expressed interest in closer collaboration to address environmental protection and climate change challenges in the future.

The International Energy Agency said recently its member countries would unlock 400 million barrels of oil from their reserves – the biggest such release ever – to ease the impact of the Middle East war. ‘The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,’ IEA executive director Fatih Birol said in a statement. The IEA says the emergency stocks will be made available to the market over a ‘timeframe that is appropriate to the national circumstances’ of each member country.

it is the sixth time the IEA has approved a coordinated release of oil stocks, having previously done so in 1991, 2005, 2011, and twice in 2022, it say

ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company, said recently it had made ‘temporary operational adjustments’ to production due to disruption in the Strait of Hormuz, while continuing operations despite Iranian strikes across the Gulf. ‘Operations are continuing safely across ADNOC Gas plc’s asset base. Following debris falling near certain facilities, inspections con?rmed no injuries and no impact to core processing integrity,’ the company said in a disclosure to the Abu Dhabi Securities Exchange.

the ?rm said it had ‘made temporary operational adjustments to production of Lique?ed Natural Gas and Export Traded Liquids’, in response to ongoing shipping disruption in the Strait of Hormuz, which has been effectively blocked by Tehran. ‘The Company is actively collaborating with customers and partners on a transaction-by-transaction basis to ful?ll commitments wherever possible,’ it added

Fuel prices in India increased recently, with premium petrol and industrial diesel becoming more expensive due to ongoing con?icts in the Middle East. According to oil marketing companies, the price of premium petrol went up by about 2.30 Indian rupees per liter, while industrial diesel saw a much bigger jump of around 22 rupees per liter. The rise in fuel costs is linked to instability in the Middle East, which has been affecting global oil markets and supply. Higher industrial diesel prices are expected to impact key sectors such as manufacturing, transport and power generation. This could lead to higher production and delivery costs, and eventually push up the prices of everyday goods, local media reported. However, the government downplayed the increase in premium petrol prices, saying it would have limited impact as only a small portion – around 2 to 4 percent – of consumers use this type of fuel

QatarEnergy has declared force majeure on some of its affected long-term liqui?ed natural gas (LNG) supply contracts, with counterparties including customers in Italy, Belgium, South Korea and China.

the move comes amid production disruptions linked to the US-Israeli war on Iran, which has affected Qatar. Global energy markets have been reeling since the United States and Israel began attacking Iran in late February.

iranian missile and drone strikes across the Middle East, including most notably in the Gulf region, have targeted oil and gas facilities, prompting international condemnation.

the essential closure of the Strait of Hormuz, a critical Gulf waterway through which about one-?fth of the world’s energy supplies transit, has also spurred mounting concern as energy prices have soared.