20 news articles tagged with "Energy Security"
Oil rose after Houthi attack on Saudi tanker off Yanbu. Brent at $80.43 (+1.35%), WTI $76.22 (+0.59%). Iran denied peace talks. US crude stocks rose 2.7M barrels. Strait of Hormuz = 20% of global oil/LNG.
Houthi attacks on Saudi Aramco facilities in Jizan and Yanbu have slowed Red Sea shipping, with only 11 vessels passing through Bab el-Mandeb on Sunday. Crude cargo prices jumped to two-month highs. Strait of Hormuz traffic also remained low despite US-Iran strike pause.
Oil prices tumbled Monday as a US-Iran strike pause boosted hopes for Hormuz reopening. Brent crude dropped below $90/barrel after shedding 7%. Bangladesh stands to benefit from reduced energy import costs and stabilising Middle East shipping.
Science and Technology Minister Faqir Mahbub Anam meets US Energy Secretary Chris Wright in Washington DC, seeking cooperation on small modular reactors (SMRs) and peaceful nuclear technology to strengthen Bangladesh energy security.
The Energy and Mineral Resources Division issues a statement clarifying the proposed private fuel import policy, emphasising energy security, transparency, and no special privileges. Policy aims to utilise private sector capacity during emergencies.
Iran war triggers oil refining golden era. BP margin $30/bbl (from $17). Exxon downstream $5.5B. Shell 102% utilisation. 5M bpd refining capacity lost. IEA: 78M bpd global runs, lowest since COVID. Won't last — structural decline.
Petrobangla has denied plans to increase gas prices, issuing a public notice urging people not to be misled by speculative reports. The clarification comes amid the ongoing gas crisis and rising LNG spot prices.
Bangladesh's RMG sector, accounting for 84-85% of exports, faces declining competitiveness. Strategic priorities include product diversification, market expansion, technology adoption, and energy security.