Category: Energy and Power

Fatih Birol, Executive Director of the International Energy Agency, held high-level talks with Friedrich Merz and senior German ministers to assess the impact of the Middle East con?ict on global energy markets, supply chains, and industrial competitiveness. During their bilateral meeting, Birol and Chancellor Merz discussed the consequences of disruptions to energy supplies, particularly the de facto closure of the Strait of Hormuz, and its effects on economic activity. They also reviewed the IEA’s ongoing efforts to support governments in managing the crisis and protecting consumers from rising energy prices.

the discussions emphasized the strategic importance of energy-intensive industries, highlighting their critical role in economic stability and national security across multiple sectors.

as part of his visit to Berlin, Birol also met with Katherina Reiche to exchange views on recent developments in global oil and gas markets and policy responses to the evolving energy crisis

France’s Association Environnement Juste has proposed a storage mandate for renewables projects exceeding 10 kWp in order to integrate ?exibility at the source. The association argues European sodium-ion batteries could present an economically and environmentally viable solution, capable of stabilizing grids without depending on imported metals. France’s new Multi-Year Energy Plan (PPE 3) targets 48 GW of solar capacity by 2030, but it does not set any speci?c targets for energy storage. In a white paper recently submitted to the ministry, the Association Environnement Juste warned this omission has technical consequences. For the French non-pro?t, the lack of ?exibility turns deployment targets into a ‘physical bottleneck,’ threatening both the stability of the power grid and the coherence of the energy transition.

the association wants to see ?exibility incorporated at the source and has proposed a minimum energy storage requirement for any new renewable energy facility exceeding 10 kW

Ocean temperatures hit near-record highs for March, the Copernicus Climate Change Service said on Friday, signalling a likely shift toward El Nino conditions that can amplify heat extremes on an already warming planet. Copernicus said average sea surface temperatures were 20.97C in March, the secondhighest value ever for the month, and the hottest since 2024 during the last El Nino, when global heat records toppled.

this re?ected ‘a likely transition toward El Nino conditions’, said Copernicus, the European Union’s global warming monitor. Several meteorological agencies had predicted the return this year of El Nino, a natural climate cycle that warms Paci?c waters and can bring higher global temperatures and extreme weather.

Indian High Commissioner in Dhaka Pranay Verma recently paid a courtesy call on Bangladesh Prime Minister Tarique Rahman at the Cabinet Division of?ce in the Bangladesh Secretariat, discussing bilateral affairs with focus on energy cooperation. Speaking to reporters after the meeting was over, Prime Minister’s foreign affairs adviser Humayun Kabir said the present government is keen to forge a new chapter in relations with India, departing from the framework established during former Prime Minister Sheikh Hasina’s tenure. ‘The meeting emphasized energy security, with special focus on diesel import through pipelines from India,’ Kabir said. ‘Maintaining positive relations between the two countries makes it possible to resolve many issues. We are optimistic about moving forward with the process of importing energy via pipeline.’

An ocean-going Aframax oil tanker, the largest newly-built vessel registered under the Bangladeshi ?ag and ?nanced by BRAC Bank, is set to embark on its maiden voyage. Named MT Omera Liberty, the tanker is owned by MJL Bangladesh PLC, a concern of East Coast Group. Measuring 250 meters in length, the vessel has a carrying capacity of up to 115,000 tonnes of fuel oil, says a press release.

the commissioning ceremony took place at Daehan Shipbuilding in South Korea on March 25. The event was attended by Azam J. Chowdhury, Chairman of East Coast Group; David Kim, Chairman of Daehan Shipbuilding; Tou?qul Islam, Ambassador of Bangladesh to South Korea; and Captain Minhazur Reza Chowdhury, Chief Executive Of?cer of MJL Shipping. Representing BRAC Bank, Abu Sadat Chowdhury, Area Head -1, Corporate, Commercial and Institutional Banking, was also present. BRAC Bank extended landmark ?nancing to MJL Bangladesh for the acquisition of two ocean-going Aframax tankers-MT Omera Liberty and MT Omera Galaxy.

The government has deployed a total of 293 mobile courts across 62 districts to monitor the fuel supply situation nationwide. During these drives, 78 cases were ?led, and ?nes amounting to Tk 315,550 were imposed.

according to the Energy and Mineral Resources Division, the drive will continue to ensure a stable fuel supply and to prevent irregularities in distribution and sales.

in addition, executive magistrates from the Energy Division are conducting mobile court operations daily at various locations across Dhaka city

Suriname is part of the Guyana-Suriname basin, which continues to see oil and gas exploration success and development activity. Petronas Suriname Exploration and Production BV will collaborate with Valaris Ltd. subsidiary Ensco UK Drilling Ltd.

and Halliburton to support the development of its assets offshore Suriname.

the agreement-which combines Petronas’ deep basin expertise, Valaris’ offshore drilling capability, and Halliburton’s technology-establishes a collaborative framework across the project lifecycle, including earlystage planning, technical integration, and continuous improvement initiatives, aimed at enhancing operational ef?ciency. Suriname is part of the Guyana-Suriname basin, which continues to see oil and gas exploration success and development activity

The American Chamber of Commerce in Bangladesh (AmCham) convened a meeting of its Energy and Power Subcommittee recently to discuss Bangladesh’s evolving energy landscape and explore future opportunities for sustainable sector growth.

a focused group discussion was held at the Sheraton Hotel Dhaka in Banani, bringing together leading industry stakeholders, policymakers and experts to exchange insights and identify practical solutions for the country’s energy challenges. Speaking at the event, AmCham President Syed Ershad Ahmed emphasized the importance of coordinated short-, medium- and long-term strategies for the sector. He said AmCham plans to compile stakeholder feedback and submit recommendations to relevant government ministries, stressing the value of a consultative approach in shaping energy policies.

Bangladesh Bank (BB) has relaxed the single borrower exposure limit for LPG imports to mitigate domestic shortages caused by the Iran war, ensuring an uninterrupted energy supply across the country.

to this end, a circular was issued recently and sent to all banks.

according to the circular, if the single borrower exposure limit exceeds 25%, banks will be allowed to extend additional loans subject to approval from the Bangladesh Bank. However, the central bank will determine the speci?c lending limit for any particular institution.

the relaxation is applicable only to LPG importers to prevent any disruption in imports. The Bangladesh Bank will permit banks to exceed the 25% limit in such cases.

Oil prices dived, bonds rallied and stocks surged recently after a two-week cease?re in the Middle East spurred a relief rally as investors cheered the possible resumption of oil and gas ?owing through the Strait of Hormuz.

uS President Donald Trump said he agreed to suspend bombing and attacks on Iran for two weeks and that a long-term peace agreement was in progress. Global markets have been rattled since the US and Israel attacked Iran at the end of February, leading Tehran to effectively close the Strait of Hormuz, a key waterway used to transit one-?fth of the world’s oil and gas.

uS crude futures CLc1 fell around 16.5% to $94 a barrel, SandP 500 futures ESc1 leapt over 2% and the dollar fell broadly, having been the haven of choice for investors during the tumult.