The Energy and Mineral Resources Division has achieved 103.04 percent progress in implementation of its revised annual development programmes (RADP). Such information on the RADP achievement was shared by the officials at a reviewed meeting of the division "on the progress of projects of the Energy and Mineral Resources Division from July, 22 to June, 23" on Sunday. Appreciating the officials’ remarkable success, State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said schemes should be taken up keeping in mind the future prosperous Bangladesh. Power Division implements 100% of RADP in 2022-23 "It's necessary to strengthen team initiative and implement projects quickly. Nobody should suffer from indecisiveness,” he said. He said the Energy and Mineral Resources Division has implemented 100 percent of ADP for the last two consecutive years and this should be continued. He directed the distribution companies under Energy and Mineral Resources Division to take initiative to increase the planned communication activities to build up trust-based relationship with their customers. It was informed in the meeting that that in the financial year 2022-2023, under the annual development program, a total of Tk 4053.20 crore was allocated against 44 projects, including 7 GOB and foreign aid projects, 25 own projects and 12 under the Gas Development Fund against which the expenditure was Tk 4176.55 crores. Financial progress rate is 103.04 percent while the progress in FY 2021-2022 was 103.52%. Ensure energy, power supply to keep industrial production running: FBCCI Chairman of Bangladesh Petroleum Corporation (BPC) ABM Azad, Chairman of Petrobangla Janendra Nath Sarkar and officials of the other subordinate organizations were present in the meeting, presided over by Secretary of the Energy and Mineral Resources Division Md Khairuzzaman Majumdar. Budget for FY2023-24: Tk 34,819 crore allocated for power and energy sector

The Energy and Mineral Resources Division has said that the country has adequate stocks of petroleum fuel. In a clarification on Wednesday, it said the country has stocks of 431,835 metric tons of diesel for 32 days’ consumption while Jet-A1 fuel for 44 days’ consumption and furnace oil for 32 days’ consumption. Requesting the people not to be misguided, it also said that a vested interest group is spreading false and fabricated information about fuel oil reserves, which is misleading the common people. The entire petrol is locally produced while 40 percent of octane is also produced by the country, it added. Read: Petroleum price may go up next month: Nasrul Hamid The process of importing 6 months’ petroleum fuel is in pipeline. “We strongly say that companies under the Bangladesh Petroleum Corporation have sufficient fuel oil reserves. At present there is no shortage or crisis of petroleum fuel in the country. There is no fear of crisis,” it said. In July 2022, the country has so far received some 255,000 metric tons of diesel from 9 vessels, about 43,000 metric tons of Jet-A-1 from 2 vessels, 24,677 metric tons of octane from one vessel and 53,358 metric tons of furnace oil from 2 vessels. In August 2022, some 218,000 metric tons of diesel will arrive in 8 ships while 25,000 metric tons of Jet-A-1 in one ship and 25,000 metric tons of octane through one ship. According to the import plan, these bulk fuels will arrive in Bangladesh in next 6 (six) months. Of these, 50 percent will be procured through G-to-G contract and the remaining 50 percent through open tender. There is no risk of shortage. The Energy and Mineral Resources Division requested all to be cautious and economical in the use of fuel which is being supplied in subsidised rates.

The Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of Liquefied Petroleum Gas (LPG) of private companies at retail level with effect from June 1. As per the new prices, the private companies will have to sell 12 kg LPG at Tk 842 instead of current price of Tk 906. Read: LPG Growth in Bangladesh: Effective Alternative to Natural Gas The regulatory body re-fixed the price adjusting with Saudi Contract Price (CP). The price of LP Gas Company Ltd, the state-owned company, will remain same at Tk 591 for 12.5 kg LPG as it has no relation with Saudi CP. In re-fixing the price, the value of per kg of LPG was considered to be Tk 70.17 including VAT and such price will be applicable for re-fixing the price of other weighed containers.  The other quantity’s LPG will be selling at lowered price to be fixed rationally. The Auto gas price was also re-fixed at Tk 41.47 per litre against the current price of Tk Tk 44.70 under the price adjustment procedure. Read:Private companies’ 12kg LPG price re-fixed at Tk 906 “This price will be applicable for the month of June until further adjustment in the Saudi CP,” said BERC Md Abdul Jalil while announcing the new price through a virtual briefing on Monday. "The private companies' LPG price was re-fixed on the basis of Saudi CP," he told reporters. Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for next month’s transactions. Most of Bangladeshi private companies import their bulk LPG from the Middle-East on the basis of Saudi CP and market it in the country. The BERC for the first time fixed the retail level LPG price on April 12 after holding a public hearing to comply with a High Court order. About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tons of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields. Read: LPG operators to get services under one roof soon The BERC chairman admitted that though they fixed the price, still product of some companies are selling at higher price in Dhaka city and some other places. "We have sent letters to the Commerce Ministry and the Energy Division seeking their cooperation to enforce and monitor the new price", he said adding  this is a responsibility of other administrative offices  along with BERC.

Bangladesh will import 60,000 metric tonnes of diesel from India in the current year 2021 under a government-to-government contract.