In just seven months, Bangladesh’s interim government has slashed foreign dues in the power and energy sector by 75%, from $3.2 billion to $800 million, addressing nearly three years of unpaid bills. A major beneficiary is US-based Chevron, which supplies over 50% of the country’s domestic gas (1,108.6 MMCFD out of 1,873.5 MMCFD). Chevron had $190 million in unpaid bills as of March 2025—equivalent to five months of arrears—prompting Petrobangla to pay $150 million between April 6–16 to regularise payments. The full clearance of Chevron’s dues has enabled the company to resume development work in its expanded drilling zones, which began in 2023. Chevron praised the efforts of the interim government, Petrobangla, and the energy ministry, calling the move a positive signal for investors. Currently, Bangladesh’s total gas supply stands at 2,612 MMCFD, including 818.9 MMCFD from imported LNG. This swift financial correction underscores the impact of political will in resolving longstanding sectoral crises.
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