Oil & Gas articles

Bangladesh scraps new floating LNG projects for land-based terminals

Bangladesh will scrap plans to build additional floating liquefied natural gas import (LNG) terminals in favour of land-based stations, a senior government official said. Adverse weather is making it difficult to operate the country’s sole floating storage and regasification unit (FSRU) and, hence, Bangladesh does not plan to build any further FSRU projects, said Mohammad

Great Eastern Energy Corp announces shale gas exploration project in West Bengal

West Bengal-based coal-bed methane extraction firm Great Eastern Energy Corporation has announced plans to explore and extract shale gas from its existing reserve. Government has recently permitted exploration and exploitation of all types of hydrocarbons including shale resources under existing coal bed methane contracts. Independent engineering firm Advance Resource International has estimated the reserve of

Oil jumps towards $67 as OPEC, partners discuss supply cut

Oil rose towards $67 a barrel on Wednesday, recouping some of the previous session’s slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market. Crude rallied after three sources familiar with the issue said OPEC and its partners are discussing a proposal to