Category: Energy and Power

The transaction is the latest big announcement in a hot market for US power and utilities mergers and acquisitions, as companies jostle for position in anticipation of AI-driven demand spike.

aES Corporation is being sold for $10.7 billion cash in a deal that will potentially see the world’s largest commercial and industrial clean energy supplier enter private ownership. Blackrock-owned Global Infrastructure Partners leads the consortium that is acquiring AES’s global business, which includes US electric utilities in Indiana and Ohio, plus a major global renewable generation portfolio.

the transaction comes as forecast electricity demand in the United States swells, driven by an expected ramping up of data center deployment. Analysts at Deloitte have forecast US data center demand will require 176 GW of power by 2035 and merger and acquisition activity in the power and utilities sectors appears to be heating up as a result.

This is one of various new c o n t r a c t s for Seadrill’s ?eet, with most of the others being ex te n s i o n s to existing programs.

additionally, an unnamed operator has taken the Sevan Louisiana semisubmersible on a twomonth contract, starting in March in the US Gulf. Finally, the West Elara jackup rig will provide accommodation services for Equinor offshore Norway, and then, from the third quarter onward, it will follow an agreement with the current contract holder to make the rig available.

totalEnergies also recently received authorization from the Norwegian Ocean Industry Authority (Havtil for permanent plug and abandonment operations on the Atla, Byggve and Skirne wells in the North Sea.

the West Elara will manage the campaign.

Escalating tensions in the Middle East could create signi?cant economic shocks for Bangladesh by raising global energy prices, increasing import costs and weakening export competitiveness, according to a new report published recently by the Policy Research Institute.

the report, titled Bangladesh Monthly Macroeconomic Insights (January-February 2026), said that geopolitical instability in the Middle East particularly the risk of disruptions in global oil supply, posed immediate and medium-term threats to Bangladesh’s fragile economic recovery. PRI said that Bangladesh was highly exposed to global energy price volatility because it relied heavily on imported fuel to meet domestic demand. The country’s total energy import bill already stands at about $12 billion annually, it said.

The US-Israel war on Iran has once again exposed the fragility of the global energy system. Within days of the con?ict, oil prices surged sharply, re?ecting how quickly geopolitical tensions in the Middle East can destabilize markets.

although prices eased slightly after initial spikes, the underlying risks remain high. For Bangladesh, the implications are serious.

the country’s heavy dependence on imported fuel leaves it highly vulnerable to external shocks. Rising oil and gas prices threaten to push up import bills at a time when the power and energy sector is already struggling with large unpaid liabilities.

even if the war does not escalate further, the economic pressure from elevated energy prices is expected to persist for months. The government has taken some immediate steps, including rationing fuel and electricity, preparing contingency plans, and seeking stronger energy cooperation with countries such as India and China.

these measures may help manage shortterm risks, but are unlikely to address the deeper structural problem: Bangladesh’s growing dependence on imported energy. Bangladesh must accelerate exploration of domestic gas resources, reconsider the role of coal in its energy mix, and expand renewable energy investments. Diversifying supply sources and strengthening regional energy cooperation should also become strategic priorities.

the global economy is already navigating multiple shocks-from post-pandemic recovery challenges to geopolitical tensions. If the Middle East con?ict evolves into a prolonged energy crisis, the economic consequences could be severe. For Bangladesh, strengthening energy security is no longer just an economic necessity; it is a national priority.

For the 2025 ?nancial performance, PTTEP reported a total revenue of THB 294,849 million (US$8,970 million).

thailand’s PTTEP has taken FID on its ?rst green?eld development offshore Malaysia, the SK405B project.

the development in the SK405B production sharing contract offshore Sarawak covers the Chenda and Sirung oil ?elds, to be produced via a new central processing platform and a wellhead platform. Facilities will be engineered for zero routine ?aring and remotely operated offshore operations. First oil should follow in 2028 with a combined production capacity from the ?elds of about 15,000 bbl/d. PTTEP Sarawak Oil is the operator, in partnership with PETRONAS Carigali and Mitsui Energy Development Co.

Disruptions to oil and gas ?ows through the Strait of Hormuz are beginning to affect global energy markets, even though upstream oil production facilities have largely remained untouched by recent attacks.

according to the International Energy Agency (IEA), the interruption of shipping through the vital waterway has already forced some operators to shut in production, while the region’s output of re?ned petroleum products and lique?ed natural gas (LNG) has also been signi?cantly affected. Global energy prices have reacted sharply.

as of March 3, Brent crude futures had risen 12 percent since February 27, while the Dutch TTF benchmark for European natural gas surged more than 70 percent. Markets for re?ned petroleum products- particularly diesel and jet fuel-have been especially volatile. Despite these shocks, the global oil market has remained in surplus since the start of 2025. Before the latest military escalation on February 28, supply was already expected to exceed demand well into 2026. However, the IEA warns that prolonged supply disruptions could quickly shift the market into de?cit. Global oil inventories reached more than 8.2 billion barrels in 2025, the highest level since 2021, providing a buffer against supply shocks.

iEA member countries hold more than 1.2 billion barrels in public emergency reserves, alongside roughly 600 million barrels in industry stocks maintained under government obligation.

these reserves could be released to stabilize markets if needed. Natural gas markets, however, remain tight.

although the sector gradually stabilized after the shock caused by Russia’s invasion of Ukraine in 2022, storage levels in the Northern Hemisphere are now relatively low following the winter heating season. This is expected to increase demand for LNG in the coming months. Concerns have intensi?ed after an attack on Qatar’s Ras Laffan facility on March 2 forced a shutdown of production.

the complex, the world’s largest LNG facility, produced about 112 billion cubic meters of LNG in 2025, along with signi?cant volumes of lique?ed petroleum gas and condensate.

any prolonged disruption there could further strain already tight gas markets.

at the center of these risks is the Strait of Hormuz-a narrow but crucial maritime corridor linking the Persian Gulf with the Arabian Sea. In 2025, about 20 million barrels per day of crude oil and re?ned products passed through the strait, accounting for roughly one-quarter of global seaborne oil trade.

options for bypassing the strait are limited.

only Saudi Arabia and the United Arab Emirates have pipelines capable of partially rerouting exports, with combined spare capacity estimated at between 3.5 million and 5.5 million barrels per day. Most other producers in the region rely heavily on the strait to transport their exports.

the LNG market faces even greater vulnerability. More than 110 billion cubic meters of LNG-nearly one-?fth of global trade-passed through the strait in 2025, with Qatar and the UAE responsible for the overwhelming majority. Because there are no alternative export routes, any prolonged disruption could force countries with long-term supply contracts to turn to the spot market, driving natural gas prices higher worldwide.

After the US’s Excelerate Energy, Middle East’s QatarEnergy has started supplying LNG to Bangladesh under its second long-term sales and purchase agreement (SPA).

the ?rst LNG cargo from QatarEnergy under its second SPA reached the Moheshkhali ?oating storage and regasi?cation unit, operated by the US-based company, and successfully delivered the LNG in the week ending February 20-27, a senior Petrobangla of?cial said.

the Qatari cargo carried around 138,000 cubic meters of LNG, he said. Bangladesh signed, on June 1, 2023, a long-term LNG supply deal with QatarEnergy for up to 1.5 million tonnes per year (Mtpa) for a 15-year period starting in 2026.

the SPA, inked in Doha, has two components: for 2026, the ?rst year of the deal, QatarEnergy will supply 12 LNG cargoes to Bangladesh, with the option of adding another 12 cargoes under speci?c conditions, said the Petrobangla of?cial.

The Minimum Wage Board has proposed a new minimum monthly wage of Tk 13,275 for workers in the battery manufacturing sector.

under the proposal, workers would also receive a 5.0 per cent annual wage increment, along with a risk allowance for those directly engaged in the sector. The Board under the Ministry of Labour and Employment issued a noti?cation on February 10, announcing the proposal and inviting objections or recommendations within 14 days of publication.

according to the draft proposal, a Grade Four worker would receive a minimum monthly wage of Tk 13,275, including Tk 6,650 as basic pay.

a house rent allowance of Tk 3325, equivalent to 50 per cent of the basic pay, will be provided. Besides, they are entitled to Tk 1,300 as medical allowance, Tk 1000 as transportation allowance, and Tk 1,000 as risk allowance.

The domestic lique?ed petroleum gas (LPG) market is undergoing a shake-up as stricter banking rules during the interim government have altered who can import fuel. As a result, some of the largest players have been sidelined, while emerging companies are rapidly expanding their footprint.

two former key market players, Bashundhara LP Gas Ltd and Beximco LPG, have effectively been excluded from direct imports since the 2024 political changeover and the subsequent formation of the interim government. Meanwhile, Meghna Fresh LPG Ltd, Jamuna Spacetech Joint Venture and United Aygaz LPG Ltd have gradually increased their market share up to ?scal year (FY) 2025.

according to National Board of Revenue (NBR) data, LPG imports rose from 12.23 lakh tonnes in 2023 to 14.42 lakh tonnes in 2024, and 14.47 lakh tonnes in 2025.

in the ?rst two months of 2026, up to February 24, some 13 companies imported 2.13 lakh tonnes, signaling a strong start to the year.

Bangladesh could face mounting energy and ?nancial pressures amid rising tensions between the United States and Iran, with concerns growing over possible disruptions in the Strait of Hormuz, a key route for the country’s energy imports. With 65-70 percent of the nation’s energy demand met through imports-primarily Lique?ed Natural Gas (LNG), crude oil, and Lique?ed Petroleum Gas (LPG)- sector experts warn that a prolonged regional war could paralyze the economy.

the Strait of Hormuz is the world’s most vital oil transit point. Reports indicate that Iran’s Revolutionary Guard has begun transmitting radio warnings that vessels may be barred from the passage. If the Strait is of?cially closed, international research agencies forecast that crude oil prices could surge to between USD $95 and $110 per barrel. For Bangladesh, this is a direct threat.