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Chevron provides support for quality education
In its efforts to boost quality education in its areas of operation under its social investment programs, Chevron Bangladesh has continued its support of four schools near its Bibiyana gas field.  A simple ceremony was held with representatives of the four selected schools at the gas field, said a press release. The funds will enable school management to recruit additional faculty in English, Science and Mathematics to improve quality of teaching in those subjects. Three teachers will be engaged in each institution for the academic year, for a total of 12 in four schools. Managing Director for Chevron Asia-South, Brad Middleton, Chevron Bangladesh’s incoming and outgoing Presidents, Neil Menzies and Kevin Lyon, respectively; Operations Director, Gary Orr, Bibiyana Gas Plant Superintendent, Bryan Mitisek were present at the event. Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry.
MAX Group signs a contract with Atomstroyexport for Rooppur project
June 9, 2018 Saturday 5:47 PM By News Desk, energynewsbd.com
In a move to complete the first ever nuclear power plant construction project of Bangladesh, the main Russian contractor JSC Atomstroyexport signed a contract with local company MAX Infrastructure Ltd (concern of MAX Group) to construct the lot- 600 of Rooppur NPP, Unit 1. This contract includes the critical civil and erection works of main Turbine Hall building. After signing, the contract was exchanged between Engr  Ghulam Mohammed Alomgir, Chairman of MAX GROUP and Lastochkin Sergey Gennadievich, First Deputy Director of RNPP Directorate, Atomstroyexport at a local hotel in Dhaka recently where CEO of Hindustan Construction Company, Amit Uplenchwar and CEO of MAX GROUP, Sunil Jain were also present, said a press release. MAX Infrastructure Ltd (MAX), Bangladesh and a big reputed company, Hindustan Construction Company (HCC), India, joint Venture (JV) has been awarded this contract for the lot- 600. MAX is the lead partner having 60% share in the JV and HCC is the 40% shareholder. The project is expected to be completed by 2022 and declared as a fast track project of Bangladesh by present government. The NPP will be built with Russian technology and is equipped with two VVER reactors of 1,200 MW each. MAX is one of the most reputed EPC contractor of Bangladesh with a brilliant track record of infrastructural development in various sectors for the last 25 years. MAX GROUP has employed more than 400 graduate engineers and owns more than 600 construction equipment in various projects. Previously, MAX has been awarded for two other lots of this Rooppur NPP which includes the shore protection of Padma river and construction of the common facilities of the construction base of second stage. MAX is also constructing the Single Line Dual Gauge Railway Track from Dohazari to Cox’s Bazar via Ramu under the railways ministry worth value US$ 450 million which is another fast track project of the present government of Bangladesh. When contacted for comment, Engr Alomgir said owning and operating a nuclear power plant in the country will be a proud achievement for Bangladesh and working in critical constructions of such a nuclear plant is a proud achievement for MAX GROUP as a local company. He hopes to deliver the project in time with full satisfaction to Russian main contractor ASE and Bangladesh Atomic Energy Commission (BAEC).  
Category: Nuclear
Russia and China sign biggest package of contracts in nuclear sphere
June 9, 2018 Saturday 12:41 PM By News Desk, energynewsbd.com
Russia and China have signed the biggest package of contracts in the history of the two countries’ nuclear partnership recently in Beijing. The signing ceremony was attended by Russian president Vladimir Putin and President of People’s Republic of China president Xi Jinping, said a press release from Rosatom. Among the deals two were on construction of 4 new units – two at the greenfield site of Xudabao and two at Tianwan (units 7 and 8). All 4 units will feature Russia’s latest Gen3+ VVER-1200 reactors. The reactors, as well as all other necessary equipment, will be developed and supplied to the nuclear island by Russia. Third deal envisages the supply of equipment, fuel, and services for the CNNC-developed CFR-600 fast reactor pilot project. The remaining deal is for supply of radionuclide heat units (UHR), to be used as part of radioisotope thermoelectric generators to power equipment in China’s space programme-lunar exploration in particular. “Today, Russia and China are the leaders in the global nuclear energy industry. Signing of these agreements is the best confirmation of our partnership with our Chinese friends.” Said Alexey Likhachev, CEO of Rosatom state corporation. “Over the course of longstanding cooperation with our reliable partners – China’s Atomic Energy Authority, the National Energy Administration, and the CNNC corporation – we have created an unprecedented level of trust. Therefore, we developed a framework for joint design and construction at the Tianwan site by both Russian and Chinese specialists. We continue to jointly build the most modern Gen 3+ units in China. Moreover, today we agreed to start the construction of VVER-1200 power units at a greenfield site.” Russia and China cooperate in various nuclear energy projects, including, but not limited to, the construction of nuclear power plants and supplying isotope products for nuclear medicine. Tianwan NPP is the largest facility used in Russian-Chinese economic cooperation. Power units No1 and No2 were started up in 2007. Power unit No3 was connected to the grid last December.  The design of Tianwan NPP is based on Russia’s AES-91 project with a VVER-1000 reactor, which fully meets the requirements of current Chinese, Russian, and IAEA regulation. The construction of Tianwan nuclear power plant is being carried out by Jiangsu Nuclear Power Corporation (JNPC) in cooperation with Russia’s Atomstroyexport, a part of the ASE Group of Companies.
Category: Other Countries
Russia and Jordan to co-operate in the field of Small Modular Rectors
June 1, 2018 Friday 5:14 PM By News Desk, energynewsbd.com
Russia and Jordan have decided to intensify and step up their cooperation in the field of Small Modular Reactors (SMRs). An Agreement has already been signed between Jordan Atomic Energy Commission and Rosatom Overseas to conduct a joint feasibility study for a Russian-designed SMR construction in Jordan in the backdrop of changing situation in the Jordanian energy market, said a press release. “We have been cooperating with Rosatom for many years, and we are going to build on this cooperation in various spheres. Today, a potential project to construct SMR-type NPP seems more relevant and more needed, so we would like to focus on it,” said Dr. Khaled Toukan, Chairman of the Jordan Atomic Energy Commission. Russia enjoys a wide range of expertise in the field of SMR energy. In 2019, Rosatom State Corporation is going to launch Akademic Lomonosov, its floating NPP, which will become the world’s unique reference project for nuclear power plants of this type. On top of that, Rosatom is actively developing its onshore Russian-design SMR NPP. Apart from its modular composition, one of the main advantages of the Russian-design SMR NPP is its ability to be used as a desalination and heating plant. Russia and Jordan are cooperating closely in the human resource development area, to implement the nuclear program of Jordan. Currently, 100 Jordanian students are studying in major Russian universities under Bachelor, Masters and other postgraduate programs.  
Category: Other Countries
Rosatom develops automated individual radiation dose monitoring system
May 26, 2018 Saturday 2:58 PM By News Desk, energynewsbd.com
Russia’s Rosatom State Atomic Energy Corporation has developed automated individual radiation dose monitoring system (AIRDMS), specially for the people working at different nuclear establishments. AIRDMS is designed to receive, collect, process, register and provide information on the personnel’s radiation dose over time. This control should be carried out with the help of IRI (sources of ionization radiation) and to optimize work plans based on minimizing the dose costs, said a press release. AIRDMS includes: individual and thermo luminescent dosimeters, automated system for monitoring and storing dosimeters for the personnel, as well as the software and hardware complex. Special Research Institute for Instrument Manufacturing (SNIIP) presented its first electronic personal dosimeters, which will be used as a part of AIRDMS, during international atomic energy forum ATOMEXPO-2018, held in Sochi, Russia from May 14-16. “This is an important step in manufacturing such a modern equipment, which fully complies with the international requirements,” said Kirill Krivosheev, First Deputy Director General of SNIIP. SNIIP is the institute for developing and manufacturing instruments and systems to ensure nuclear and radiation safety at all nuclear facilities built by Rosatom for the last five decades. It is a concern of Atomenrgomash, machine building division of Rosatom.
Category: Other Countries
City’s gas crisis likely to linger despite move to add more gas to nat’l grid
May 24, 2018 Thursday 11:23 AM By UNB
Despite the government’s move to add 500 million cubic feet of gas per day (mmcfd) to the national gas network, the severe gas crisis that the city dwellers have been experiencing in many areas is unlikely to be resolved soon due to weak distribution network, officials said. The government has planned to add 500 mmcfd gas to the national grid from the current month by importing liquefied natural gas (LNG) from Qatar. The LNG ship has already arrived at Moheshkhali LNG terminal and now awaiting supply to national gas network. But officials at state-owned Titas Gas Transmission and Distribution Company Ltd think that this will have little impact on the current grim situation because of weakness in distribution network. They said addition of more gas would not work to ease the situation until a project is taken to improve distribution line. “Actually, no major project was undertaken in recent years to improve the capacity of the Titas distribution lines because of the government’s policy to discourage the residential use of gas,” said a top official of the company on condition of anonymity.  In most areas, he mentioned, the distribution lines have become very incapable to meet the demand of gas the demand of which is growing because of rampant construction of high-rise buildings in and around Dhaka city. “Where there was only one or two families on a piece of land, now more than 10 families are living there after the construction of a high-rise apartment building,” he said. The areas facing gas crisis include Mirpur, Kazipara, Sewrapara, Mohammadpur, Sheymoli, Adabar, Kalayanpur, Nakhalpara, Kathalbagan, Cenrtral Road, Crescent Road, Moghbazar, Molibagh, Badda, Basabo, Old Dhaka, Lalbagh, and Jatrabari.   The consumers of these areas experience poor gas flow in most of the time of the day. “We start getting gas after 10 pm and that flow prevails for only three to four hours. Even no adequate pressure is found to cook meals in ovens,” said Salma Begum, a housewife in the city’s Nakhalpara area. The similar experience was shared by Nurjahan  Khatun in Kazipara area of Mirpur. She said she has to cook at midnight on most occasions. According to official sources, some 30 percent of the Titas consumers in the city have been experiencing the gas shortage for long. However, Syed ManzurIlahi, deputy managing director and also project director of Supply Efficiency Improvement of Titas Gas, said they have constantly making efforts to improve the situation. “Titas is currently implementing a pre-paid gas meter installation project to stop such illegal connections. Once the project is fully implemented, it’ll significantly improve the situation,” he said. But many senior officials who do not want to speak openly believe there will be no end to the ongoing gas crisis unless there is any policy change on the government side. Currently, they said, Titas gas has alone almost 500 mmcfd gas shortage to meet its demand as it is receiving about 1580  mmcfd gas from  Petrobangla to serve its 2.734  million consumers.  Of these, residential consumers are about 2.717 million while commercial consumers are 10,919 and industrial consumers are 4,610. The officials said Titas Gas needs projects to improve the capacity of its distribution lines across the city and elsewhere. They also mentioned that there are more than 300,000 million illegal gas connections in many areas in and around the Dhaka city. These areas include Keraniganj, Narayanganj, Fatullah, Badda, Merul Badda, Tekpara, Kathalia and Namapara. “But local MPs create obstacles when we move to take action against such illegal gas consumers,” said an official.
Category: Gas
World’s first floating nuclear power plant is set for fuel loading in Russia
May 23, 2018 Wednesday 12:06 PM By News Desk, energynewsbd.com
Akademik Lomonosov, world’s first nuclear floating power unit arrived in the Russian city Murmansk from Saint Petersburg on May 19, 2018 for loading of fuel. Once loaded with fuel the power plant will be towed to the town of Russia’s far east city of Pevek in Chukotka region for connection to the grid in 2019, said a press release. It will become the first ever operational floating nuclear power plant and the northern most nuclear installation in the world. The plant will replace a coal-fired power plant and an aging nuclear power plant Bilibino supplying power to over 50,000 people. The new plant will help reduce carbon footprint in the Arctic caused by tens of thousands of tonnes of CO2 emissions each year.  A welcome ceremony took place at the pier of Atom lot, a subsidiary of Russia’s State Atomic Energy Corporation--Rosatom. The ceremony was attended by Director General of Rosatom Alexey Likhachev, Chukotka Region Governor Roman Kopin, Murmansk Region Deputy Governor Eugene Nikora, Deputy Director General of Rosatom Aleхander Lokshin, Rosenergoatom Director General Andrey Petrov and Atomflot Director General Vyacheslav Ruksha. Rosatom Director General in his speech said, “Akademic Lomonosov is an unparalleled piece of engineering by Russian scientists. It is a first-of-a-kind, reference project for mobile medium capacity range nuclear power units, a product we expect to be in growing demand in the coming years. For instance, we see great interest from all island nations where it is difficult, for various reasons, to set up a developed centralised power transmission infrastructure.” The floating nuclear power plant project has been welcomed by many environmentalists and green groups as the only feasible way to reduce the Arctic’s dependency on coal causing millions of tonnes of CO2 emissions and toxic pollution destroying the region’s fragile ecosystems.  Ben Heard, the Executive Director of Bright New World Organisation in his comment said, “Remote communities world-wide need affordable, reliable non-carbon energy and this (floating nuclear power unit) is a way of getting it to them.”  The nuclear Floating Power Unit (FPU) Akademik Lomonosov is equipped with two KLT-40C reactor, each with a capacity of 35 MW, similar to those used on icebreakers. The vessel is 144 metres long and 30 metres wide and has a displacement of 21,000 tonnes.   The lifecycle of the nuclear FPU is 40 years with the possibility of being extended to up to 50 years. After decommissioning, the FPU will be towed to a special deconstruction and recycling facility. No spent nuclear fuel or radioactive waste is planned to be left in the Arctic–spent fuel will be taken to the special storage facilities in the mainland Russia. These small nuclear reactors like Akademik Lomonosov can operate non-stop without the need for refueling for three to five years, thereby considerably reducing the cost of electricity generation. The reactors have the potential to work particularly well in regions with extended coastlines, power supply shortages, and limited access to electrical grids. The plant can be delivered to any point along a coast and connected to existing electrical grids. Rosatom is already working on second generation FPUs, or Optimized Floating Power Units (OFPUs), which will be equipped with two RITM-200M reactors each with a capacity of 50 MW. OFPUs will be smaller than their predecessors.  
Category: Other Countries
‘Call me Equinor’: Statoil changes name
May 16, 2018 Wednesday 6:08 PM By AFP
Norway’s largest oil company Statoil officially changed its name to Equinor on Wednesday as it forges ahead with its drive into renewable energy. Proposed in March and adopted on Tuesday at the shareholders’ general meeting, the name change allows the company to take a step back--at least in name--from the Norwegian state, which owns 67 percent of its shares, and from oil. Equinor is meant to combine the idea of equity and equilibrium (“equi”) and geographical origin (“nor”) for Norway. Founded in 1972 to operate Norway’s large oil fields, the company--which is listed on both the Oslo and New York stock exchanges--is now active in renewable energies, including wind farms off the UK coast. The group has earmarked 15-20 percent of its investments to “new energy solutions” by 2030. But this shift has been cold shouldered by environmentalists concerned about global warming as they accuse the company of “green washing”. “Statoil name change to attract young talent will not be sufficient as long as Equinor is exploring in vulnerable areas, such as the Arctic or the Great Australian Bight,” tweeted Truls Gulowsen, leader for Greenpeace in Norway.
Category: Other Countries
‘Speedy energy supply act may get 3-yr extension’
May 14, 2018 Monday 12:06 PM By Staff Correspondent, energynewsbd.com
The government is likely to extend the Speedy Supply of Power and Energy (Special Provision) Act 2010 to implement development plans quickly in the power and energy sector. The special law, which will expire in October 2018, may be extended by three more years. Earlier, it got extension two times. The extension of the law will be made to rapidly implement development plans undertaken till 2021. A long time is needed to implement projects in the traditional tender procedure. So, the speedy act was formulated in 2010 to speedily implement the projects. Meanwhile, opinions about further extension of the law have been taken from the ministries of finance, commerce, public administration and foreign affairs. After taking an opinion from the Law Ministry, a proposal will be placed before a cabinet meeting. After an approval from the cabinet, it will be sent to parliament for its passage. Mohammad Hossain, Director General of the Power Cell, said the time limit of the law will expire next October. A proposal has made for a three-year extension of the law till October, 2021. He also said it has been possible to speed up development activities in power sector for the establishment of quick rental power plants under the law. The law provides “Notwithstanding anything contained in the Public Procurement Act, 2006 or any other law for the time being in force, the provisions of this Act shall prevail. No question regarding the validity of any act done or purported to be done, any action taken or any order issued or direction given under this Act shall be raised in any court.”
Category: Others
United Power emerges largest market cap co in power sector
May 12, 2018 Saturday 10:59 AM By News Desk, energynewsbd.com
United Power Generation and Distribution Company Limited emerged as the largest market capitalisation entity among the listed power-sector companies on the Dhaka bourse. The power generation company’s total market cap crossed US$ 1.0 billion milestone for the first time on Tuesday last and stood at Tk 88.67 billion on Thursday. “United Power is among the few companies in Bangladesh which crossed the U$ 1.0 billion market-cap milestone. It will enhance the prospect of company’s business and shareholders’ assets,” said a press release. Now, United Power is the sixth highest listed company in terms of market capitalisation on the Dhaka Stock Exchange (DSE) after Grameenphone, Square Pharmaceuticals, BATBC, BRAC Bank and ICB as of Thursday. Each share of United Power, which was listed on the DSE in 2015, closed at Tk 220 on Thursday, losing 0.95 per cent over the previous day. The company disbursed 90 per cent cash dividend for the year ended on June 30, 2017. In 2016, the company paid 125 per cent cash dividend. United Power has reported earnings per share (EPS) of Tk 2.88 for January-March 2018 as against Tk 2.77 for January-March 2017. In nine months for July 2017-March 2018, EPS was Tk 8.41 as against Tk 8.05 for July 2016-March 2017. The net operating cash flow per share (NOCFPS) was Tk 8.00 for July 2017-March 2018 as against Tk 8.60 for July 2016-March 2017. The net asset value (NAV) per share was Tk 37.71 as on March 31, 2018 and Tk. 37.47 as on June 30, 2017.
Category: Business
How India faces heat as global oil boils
May 11, 2018 Friday 4:24 PM By THE TIMES OF INDIA
As crude oil price in the global market breached the $70 per barrel-mark, large importers of oil like India and China are faced with an imminent danger of price rise. To put things in perspective, the price of crude is up about 18 per cent this year and is now trading at the highest since 2014. As a fallout of this, fuel exporters get to enjoy windfall gains, as consumer nations take a hit. At more than 28 per cent, oil and related products constitute the largest chunk of India’s imports. Data from the commerce ministry shows that India’s oil import bill amounted to more than Rs 7.5 lakh crore in the fiscal year 2017-18. Worryingly, the bill is set to inflate further in the coming years. India’s dependency on fuel imports has swelled over the years. From 77.3 per cent in 2013-14, it has gone up to 81.7 per cent in 2016-17. Naturally, with both crude oil prices and imports edging up, India’s import bill is set to rise. Every dollar increase in crude oil price adds to the country’s net import bill by $0.51 billion. This in turn affects the country’s foreign exchange reserves and accounts for widening of the trade deficit. HOW DOES IT AFFECT YOUR DAILY LIFE? From a consumer pocket’s perspective, the pinch is being felt for a while now as petrol and diesel prices have hit all-time highs multiple times in the recent past. A major share of petrol and diesel prices are made up of taxes- excise duty collected by the Centre and Value Added Tax (VAT) collected by the states. As a matter of fact, 48.2 per cent of what you pay for petrol is central and state taxes while for diesel, excise and VAT add up to 38.9 per cent. Finance Minister Arun Jaitley had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre. In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre during the period that helped the government’s excise mop up more than double its revenues -- to Rs 242,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. Subsequent to that excise duty reduction, the Centre had asked states to also lower VAT but just four of them- Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh- reduced rates while others including BJP-ruled ones ignored the call. INDIA’S CENTRAL BANK IS WORRIED Being among the most-vulnerable economies to the boiling oil price problem, the RBI (Reserve Bank of India), India’s central bank finds itself dealing with a big headache from this unprecedented surge in crude prices. With the rupee also falling sharply against the US dollar, economists are already pushing forward their forecasts for RBI’s interest-rate increases as India’s biggest import item gets more expensive. India buys crude in dollars, a weak rupee hits the country`s coffers adversely.
Category: Regional
Deal signed with China for 1,320 MW power plant at Moheshkhali
May 6, 2018 Sunday 11:31 PM By Staff Correspondent, energynewsbd.com
As part of its ongoing efforts to increase power production, the government on Sunday signed a joint venture agreement with China for installing a 1,320 MW coal-fired power plant at Moheshkhali in Cox`s Bazar. “Bangladesh Power Development Board (BPDB) and China Huadian Hongkong Company Ltd (CHDHK) signed the agreement to form a new joint venture company within 30 days,” State Minister for Power, Energy and Mineral Resources Nasrul Hamid said while witnessing the contract signing as the chief guest at a function at Mukti Hall of Bidyut Bhaban in Dhaka. He said the new joint venture company would construct a 1,320 MW ultra super critical coal-fired power plant at Moheshkhali in Cox`s Bazar in 48 to 54 months. Moheshkhali would be a power hub, as the government has been constructing Matarbari power plant along with other electricity establishments, Nasrul added. He said the government is going for long-term projects for power sector. “We are going for big power plant projects, which would create huge employment facilities in the country,” he added. “We need efficient personalities for operation and maintenance of the modern technology based machineries. For this, training programmes are needed for making our people skilled,” the state minister said. Secretary of BPDB Mina Masud Uzzaman and vice president of CHDHK Wang Zhihao signed the agreement on behalf of their respective sides. Among others, Power Division Secretary Dr Ahmed Kaikaus, BPDB Chairman Engineer Khaled Mahmood, Chinese Ambassador to Bangladesh Zhang Zuo, CHDHK President Fong Zheng spoke on the occasion.
Category: Power
Efforts on to ensure smooth power supply at affordable price: Nasrul
May 6, 2018 Sunday 10:49 PM By BSS
State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Sunday said the government is working to supply electricity smoothly and speedily at affordable prices along with ensuring clean energy. “Bangladesh is progressing fast and to maintain this trend, we need uninterrupted power supply in the country,” he said, speaking as the chief guest at a workshop at a local hotel in Dhaka. Power, Energy and Mineral Resources Ministry, Monash University and RMIT University jointly organized the two-day workshop on ‘Power and Energy Sector Infrastructure Development and Management’ in association with Department of Foreign Trade Affairs of Australia. Chaired by Professor of Monash University Quamrul Alam, the workshop was moderated by Power Cell Director General Engineer Mohammad Hossain. Australian High Commissioner to Bangladesh Julia Niblett spoke at the programme as the special guest while Power Division Secretary Dr Ahmed Kaikaus delivered the welcome speech. Energy expert Engr Saleque Sufi and high officials were present at the workshop. Chancellor of Central Queensland University John Abbott spoke on coal-fired power plants and the future global scenario while Vice-Chancellor of Central Queensland University Professor Scott Bowman and Monash University Professor Julie Wolfram Cox delivered their speeches on the subject. The state minister said the country needs skilled and efficient manpower to build the next developed Bangladesh. “This manpower could be built through improved training programmes,” he said, adding 90 officials of power and energy sector received training funded by Australia. He said the country is marching forward with a vision of development under Prime Minister Sheikh Hasina, as the people will enjoy the facilities of a developed Bangladesh facility by 2041.
Category: Others
Bangladesh Power Management Institute’s training starts
May 6, 2018 Sunday 6:49 AM By Staff Correspondent, energynewsbd.com
State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Saturday underscored the need for better use of technology to provide quick service. “It’s time to research on artificial intelligence and use it how to get more electricity along with the energy sector,” he said this, while inaugurating a training programme as the chief guest at Biduyt Bhaban in Dhaka. Bangladesh Power Management Institute organised the first training programme on Project Formulation, Implementation, Monitoring and Evaluation. The state minister said, “No organization can improve without skilled and dedicated staffs. There is no alternative to training for increasing efficiency.” He said Bangladesh Power Management Institute (BPMI) has been formed to establish international standard training institutes like IIT, AIT or MIT, adding, “A complete residential (BPMI) would be established on 25 acres of land at Keraniganj near the capital city.” Chaired by Power Division Secretary Dr Ahmad Kaikaus, the programme was also addressed, among others, by Rector (Additional Secretary) of BPMI M Mahbub-Ul-Alam , Chairman of Bangladesh Power Development Board Engineer Khaled Mahmood and Power Cell Director General Engineer Mohammad Hossain.
Category: Others
India keen on alliance with China, Japan, Korea to bargain for better oil deals
April 30, 2018 Monday 6:56 AM By Indian Express
With oil producers’ cartel OPEC playing havoc with prices, India has proposed a grand alliance with top Asian oil buyers like China, South Korea and Japan to negotiate better terms with sellers. In a throwback to 2005 when the then oil minister Mani Shankar Aiyar had proposed an alliance of the oil consuming nations, Petroleum Minister Dharmendra Pradhan said India will try to create a network with China, Japan and South Korea to take up issues like premium being charged from Asian buyers. “I see bigger cooperation between four big economies of Asia, that is India, China, Japan and South Korea. India will try to create a network between these four economies,” he told reporters on the sidelines of an industry event on Thursday. India is the world’s third largest oil importer after China and the USA. Japan is the fourth largest importer and South Korea is right behind it. The four nations account for over a third of the oil imports in the world. “Why should biggest consumers pay more. Why should these countries pay more in name of Asian premium,” he asked. “All the four major Asian economies should come together. And India will try to create a network for that within the four countries.” Earlier this month, India and China agreed to join hands to have a collective bargaining power against cartelisation of oil producers. So far, India has not been able to bargain better rates from the Gulf-based producers of the oil cartel, OPEC. Instead of getting a discount for bulk purchases, West Asian producers, such as Saudi Arabia, charge a so-called ‘Asian Premium’ for shipments to Asian buyers, including India and Japan, as opposed to Europe. According to Prof Yoshiki Ogawa of Japan, the Asian Premium annually costs somewhere around USD 5-10 billion for Asian importers. Pradhan said like producers have a say in pricing and supply, consumers should also get a say. This is India’s third attempt to unite major Asian energy importers to beat the producers’ cartel. The then oil minister Aiyar had in 2005 hosted two ministerial roundtables to impress upon the need for a reasonable oil pricing and getting rid of discriminatory Asian Premium — the first involved major Asian consumers such as China, Japan and South Korea and the other roped in alternative oil producers of North and Central Asia. Aiyar proposed a common front on oil to China’s National Development and Reforms Commission vice-chairman Zhang Xiaoqing. That proposal resulted in a memorandum of understanding in 2006 but it was lost in the complexities of bilateral ties. Another attempt for joint energy sourcing with Japan was made towards the end of the UPA government when M Veerappa Moily was the oil minister. It, too, failed to see the light of day. At the 16th International Energy Forum (IEF) ministerial meet earlier this month, India and China, which together accounted for 17 per cent of world oil consumption last year, agreed to look for ways to leverage the combined size of their imports for a better bargain from West Asian crude producers. By 2023, oil demand will hit 104.7 million barrels per day, up 6.9 million bpd of 2017, according to the International Energy Agency. “As has been the case for some years, China and India together will contribute nearly 50 per cent of global oil demand,” the agency had said in a report.
Category: Regional
LPG price to be fixed with stakeholders: Nasrul
April 28, 2018 Saturday 7:33 PM By News Desk, energynewsbd.com
State Minister for Power, Energy and Mineral Resources Nasrul Hamid said his ministry would fix the price of Liquefied Petroleum Gas (LPG) through consultation with the stakeholders concerned. “Initiatives have been underway for keeping the price of LPG at a tolerable stage,” he said this as the chief guest, while launching Petromax LPG at Bangabandhu International Conference Centre (BICC) in Dhaka on Saturday. He said the businessmen should operate their businesses keeping in mind their social responsibility, adding, “It might be possible to supply LPG to apartments or community based households through pipeline by preserving it.” The natural gas or the Liquefied Natural Gas (LNG) would be supplied to industries as its opportunity cost is high at industries, Nasrul said adding that the government so far approved 55 companies for LPG bottling and marketing in the country. “These companies’ production capacity is 23.60 lakh tonnes, while the country’s demand is 30 lakh tones,” the state minister added. Among others, lawmakers Dr M Habibey Milliat and Mahfuzur Rahman, chairman of Youth Group Rejaqul Haider and managing director of Youth Group Feroz Alam spoke on the function.
Category: LPG
‘20-year Energy Security Fund formulated for LNG import’
April 25, 2018 Wednesday 7:58 AM By Staff Correspondent, energynewsbd.com
The government has created an Energy Security Fund to finance in the country’s gas exploration and extraction projects, including the import of liquefied natural gas (LNG) to meet the scarcity of natural gas. On April 10, 2018, the Energy and Mineral Resources Division has issued a notification on the formation of the Energy Security Fund Policy-2018. According to the notification, the fund will be used in exploring, extracting, purifying, transmitting, distributing gas, importing LNG and taking other related projects with the help of this fund to ensure the energy security in the country. However, it is seen in the analysis of the notification that a large part of this fund will be spent for importing LNG. The government will import 500 mmcf of LNG daily and provide it to national gas grid from May next. It is said that the period of the fund will be 20 years from the date of policy issuance. After the expiration of the timeframe, the government will decide in this regard. The Bangladesh oil, gas and mineral resources corporation (Petrobangla) under the Division of Energy and Mineral Resources will take the charge of managing the fund. An eight-member committee convened by Petrobangla chairman has been constituted to fix the implementable projects to be run by the fund. The General Manager of Petrobangla LNG Cell will be the member secretary of the committee. In the circular, it has been stated that the purpose of forming this fund is to take short, medium and long-term measures to ensure safety in energy supply. If the project run by the money of the fund is considered profitable or commercially successful, then the taken investment will have to be repaid within 15 years of the beginning of the project, with the grace period of five years, on a six-month basis in 20 phases with 2 percent interest including service charges. However, the service charges will not be applicable during the grace period. The money, used only for gas exploration projects, will not be refundable if the gas is not available for extraction, or if the gas extraction is not considered economically profitable. Besides, the money spent for hiring the project consultant or experts or conducting surveys will not be refundable. In this case, the money mentioned in this regard will be regarded as donations. It is here noted that the Bangladesh Energy Regulatory Commission, in an order to increase the price of gas at the consumer level on August 27, 2015, directed to form this fund. Later, the Division of Energy and Mineral Resources formed the fund effective from September 1, 2015, said the notification. According to the commission order, the asset value of gas produced in the country will be deposited to the energy security fund for consumers` interest, with a weight average cost of 1.01 per cubic meter and the interest on the savings will also be kept in the fund. Later, the money will be spent on various projects. However, Energy Regulatory Commission has already directed to allocate approximately Tk7,000 crore for one year to Energy and Mineral Resources Division from its Energy Security Fund for the purposes of LNG import and operations of LNG terminals. The Security Fund received around Tk 6,000 crore as of December 2017.
Category: Gas

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