Bangladesh Seeks Foreign Bids Amid Fuel Crisis

Officials said Bangladesh imports around 95% of its oil and gas requirements, much of it sourced from the Middle East. However, ongoing conflict in the region has severely disrupted shipments through the Strait of Hormuz, creating pressure on global supply chains and contributing to shortages at home.

The fuel crisis has already led to long queues at petrol stations and recurring power outages, as electricity demand continues to exceed available generation capacity. Authorities warn that the situation could worsen if global supply constraints persist.

Young Indians Drive India’s Strangest Political Revolution Through Viral ‘Cockroach’ Party

Energy Minister Iqbal Hasan Mahmud said fuel remains central to national development and assured that future exploration contracts would be awarded in the country’s best interest, emphasizing the need to secure long-term energy stability.

Bangladesh has previously delineated its maritime boundaries but continues to lag behind neighboring countries in offshore oil and gas exploration. A similar tender issued in 2024 attracted limited international participation, prompting the government to revise contract terms to improve investor interest.

Petrobangla spokesperson Hasan Mahmudul Islam said the updated framework reflects feedback from global energy companies, including revisions to gas pricing structures and investment conditions. He added that concerns raised earlier by investors have now been addressed.

The revised policy also includes investment protection guarantees and links domestic gas pricing to global Brent crude benchmarks in an effort to attract more foreign participation.