Year: 2022

PSO Arranges 5 Additional Cargoes of Diesel: Ample Fuel Stocks Available

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As the national flag bearer, PSO remains committed to fueling the nation under all circumstances, ensuring an uninterrupted supply of fuel at its retail outlets nationwide. In view of the increasing demand of diesel, mainly due to harvesting season and limited product availability/imports by other market players, PSO has arranged 05 additional high-speed diesel (HSD) cargoes from March till May 2022. PSO’s Financial Burden Worsens as it Grapples With Supply Management IssuesThese cargoes are over and above the 11 cargoes planned in accordance with PSO’s usual market share as committed…

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OCAC Confirms Ample Availability of Fuel Supplies in the Country

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Oil Companies Advisory Council (OCAC) has reported that ample stocks of Motor Spirit (MS) & High-Speed Diesel (HSD) are available in the country owing to the support of refineries in providing locally produced fuel products, and to OMCs for planning imports and meeting volume commitments timely despite the limited product availability in the international market due to geopolitical tension. Since HSD sales have drastically soared in the country due to the harvesting season, OCAC is actively playing its role in effectively managing the surged demand in consultation with the industry,…

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Explosion at Nigerian illegal oil refinery kills over 100

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More than 100 people were killed overnight in an explosion at an illegal oil refining depot on the border of Nigeria’s Rivers and Imo states, a local government official and an environmental group said on Saturday. “The fire outbreak occurred at an illegal bunkering site and it affected over 100 people who were burnt beyond recognition,” the state commissioner for petroleum resources, Goodluck Opiah, said. The bunkering site was in the Ohaji-Egbema Local Government Area of Imo state in the Abaezi forest that straddles the border of the two states.…

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Bangladesh Opts to Sell Surplus Power to Neighbours

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As part of the power sector master plans, Bangladesh started cross-border energy trade with neighbouring India in 2013 with only 500 megawatts of electricity import. Over the years, electricity import from India has climbed up to 1,160MW which is around 10% of Bangladesh’s total power consumption. Every year, Bangladesh pays around Tk5,000 crore to India for importing electricity through cross-border transmission lines. Nepal, Bhutan, and other neighbouring countries buy and sell electricity across borders with India through the Indian Energy Exchange. Bangladesh has been concerned with its surplus power during…

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