• Friday, August 01, 2014

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  • Deep-sea Exploration

    Higher gas prices key to woo IOCs

    Higher gas prices key to woo IOCs
    An example of deep-sea gas-field operation in the North Sea near Norway. In case of Bangladesh, when gas is discovered, a similar operation may be in place at a depth of 1,500 metres.

    Bangladesh may not be able to attract international oil companies enough to explore its deep sea waters even after resolving maritime disputes with Myanmar and India unless it revises its model production sharing contract (PSC) by offering higher gas prices. “Policymakers must realise that deep sea exploration and development of a gas prospect is completely different from onshore or even shallow water operation. Deep sea operation is very costly, highly risky and technologically very challenging,” said a top PSC expert. “All of the commercial deep sea gas discoveries in the last five years had between 6 trillion cubic feet (tcf) and 16 tcf reserve. Any reserve less than that is not commercially viable for development. Developing one gas field can cost between $3 billion and $5b or beyond,” he said. These discoveries were made, among other places, in Mozambique, Tanjania, Ghana and the Caribbean seas. For Bangladesh, exploring the deep sea especially for gas is the last...

4 killed in 'shootouts'

Four people, two of whom were accused of murdering a police officer, were killed in alleged gunfights with law enforcers in...

4 killed in 'shootouts'

Four people, two of whom were accused of murdering a police officer, were...

Death toll hits 1,395

Israel said yesterday it would not pull troops from Gaza until they finish destroying a network of cross-border tunnels, despite sharp...

Death toll hits 1,395

Israel said yesterday it would not pull troops from Gaza until they finish...

Attacks on minorities increased

Hindus and other ethnic and religious minorities in Bangladesh faced increased harassment and physical attacks amid last year's political turmoil, according...

Attacks on minorities increased

Hindus and other ethnic and religious minorities in Bangladesh faced...

HSC results on Aug 13

The results of this year's Higher Secondary Certificate (HSC) and its equivalent examinations will be published on August 13.    Education Minister Nurul...

HSC results on Aug 13

The results of this year's Higher Secondary Certificate (HSC) and its equivalent examinations...

Gaza Crisis

Gaza conflict: UN accuses Israel over Jabaliya attack

Gaza conflict: UN accuses Israel over Jabaliya attack

Israel launched a deadly attack on a UN school housing refugees in Gaza despite repeated warnings that civilians were sheltering there, the UN has said. UN spokesman Chris Gunness...

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BB directives defied in fresh loan deals

The Gulshan branch of BASIC Bank allowed fake and defaulter companies to swindle another Tk 1,000 crore in 2013, defying Bangladesh Bank's instructions to rectify its irregularities in disbursing around Tk 1,300 crore a year ago. The state-run bank disbursed the amount without following any rules, found the central bank that ran an investigation at the branch for the second time between January and June this year. “The possibility of getting back Tk 1,000 crore is bleak,” said the BB probe...

A sombre Eid in Gaza after deadly Ramadan

One of the most joyous days in the Muslim calendar, the holiday of Eid-ul-Fitr was marked by tears and sorrow in the Gaza Strip, left battered by three weeks of merciless Israeli assaults. Marking the end of the holy month of fasting, Eid is normally a time of feasts and fun, presents and parties, even in this impoverished and isolated Palestinian coastal...

Tragedy marks Eid holidays

At least 87 people were killed in road accidents and boat capsize across the country over the last four days. Of them, 68 died in...

Bangladesh and India are expected to open shipping routes using non-deep-sea vessels by end of the year, with dry runs beginning as soon as October 14. The two sides are close to reaching an agreement on standard operating procedures for trans-shipment using the proposed routes, diplomatic sources said. It would make transport of exports and imports cheaper...

Tuba Group workers still wait for arrears

Tuba Group's 1600 workers did not get three months' arrears and festival bonus even yesterday, pushing some to observe hunger strike for four days straight in a bid to drive their...

A Greek court's decision to acquit local farmers who admitted shooting 28 Bangladeshi strawberry pickers when they dared to ask for months of back pay has sparked outrage in the country. Politicians, unionists and anti-racist groups roundly condemned the verdict describing it as a black mark for justice in a case that had shone a light on...

     Business

Tourism rebounds on Eid vacationers

The tourism industry expects good business from the Eid as hotel and resort operators received a lot of bookings in the run-up to the festival, thanks to a stable political climate.   “We expect an increased number of tourists during the Eid vacation,” said Omar Sultan, president of Cox's Bazar Hotel-Motel and Guesthouse Owners Association. Different hotels, motels and guesthouses in the beach city have sold...

     Op-ed

THE national flag carrier Biman has been limping along with its under-utilized fleet of aircraft due to fewer pilots to fly the planes, on the one hand, and unwillingness of the higher management to push through existing plan to operate on long routes, on the other. Worse yet, lacking in commercial sense management high-ups have become captive in the hands of a corrupt vested group that exploits Biman's present situation to their unfair advantage.  It's hardly surprising that, Biman has been counting losses in terms of crores of taka annually. One cannot, however, complain that Biman's lack of progress has been due to any resource shortage. For instance, of the four new...

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