Petrobangla Drafts New PSC to Boost Gas Exploration in Hilly Areas

Titas Gas Transmission and Distribution Company suffered a Tk 523 crore loss in Q2 of FY25, mainly due to high system losses of 10.63%, far exceeding the 2% allowable limit. The company’s loss per share (LPS) was Tk 5.28, compared to an EPS of Tk 0.40 in the same quarter last year.

Titas Gas faced its highest system loss in a decade in fiscal 2023-24, totaling 1,204 million cubic meters, worth Tk 2,945 crore. This loss, due to illegal connections, leaks, and outdated pipelines, exceeds the acceptable 2% limit at 7.67%.

TRANSFORM, an impact accelerator led by Unilever, the UK Government, and EY, announced grants of up to BDT 10 million each for two Bangladeshi SMEs focused on climate resilience.

A proposed hike in gas prices by Petrobangla has sparked major concerns among industrialists in Bangladesh, fearing economic harm. Industrial leaders argue that the increase, if approved, could lead to factory closures, job losses, and reduced industrial output, harming economic growth and potentially causing social unrest.

The Bangladesh government approved proposals to procure one cargo of LNG and 50,000 tonnes of non-Basmati boiled rice during the 2nd meeting of the Advisers' Council Committee on Government Purchase.

In FY 2023-24, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) faced operating losses due to reduced trading, fewer IPOs, and increased costs. The DSE's core revenue of Tk 125 crore fell short of expenses, causing a Tk 20 crore loss, while the CSE incurred a Tk 10 crore loss with Tk 31 crore in core revenue.