Govt to import 1.5 million tonnes of Crude oil

Chinese firms are exploring partnerships to establish lithium battery and solar panel production in Bangladesh, following discussions with the Bangladesh Investment Development Authority (BIDA). Representatives from Wellbe Communication Technology Ltd and Beijing Hairun Haoshen Technology Ltd emphasized Bangladesh’s need for advanced battery solutions, especially as electric vehicle demand rises.

Adani's power purchase agreement has faced controversy due to high coal prices and production costs. The Power Development Board (PDB) raised objections in December 2022, but Adani agreed to reduce coal prices, though costs remain higher than other coal-based plants.

A new report by Market Forces, Waterkeepers Bangladesh, and Dhoritri Rokkhay Amra (DHORA) warns that Bangladesh's development of liquefied natural gas (LNG) power projects and import terminals could cost the country an estimated US$50 billion.

The Bangladesh Petroleum Corporation (BPC) has cleared $578 million in unpaid foreign bills over the past three months by opening letters of credit (LCs) with private banks, improving payment timeliness and negotiating power. This shift reduced reliance on state-owned banks and helped BPC avoid further debt accumulation. BPC is set to sign a six-month oil supply contract in December, strengthening its position in future negotiations.

A recent study by the Bangladesh Institute of Bank Management (BIBM) highlights that Bangladesh's renewable energy goals lack clear alignment and adequate funding. Although the Mujib Climate Prosperity Plan (MCPP) sets a 40 percent renewable energy target by 2041, the Integrated Energy and Power Master Plan (IEPMP) 2023 aims for only 8.8 percent, revealing inconsistencies between government policies.

Bangladesh's LPG industry has struggled with unsustainable pricing, with companies selling gas cylinders at a loss to capture market share. The cost of production is around Tk3,000 per cylinder, but companies like Omera and Bashundhara sell them for Tk800-900, leading to significant financial losses.