Bangladesh shuts universities early to save power amid energy crisis
Fuel sales are limited daily to reduce consumption, with a 25% cut needed to maintain diesel supplies for 14 days, officials said.
- From March 9, Bangladesh authorities ordered all public and private universities closed, bringing forward the Eid al-Fitr holidays to cut campus electricity use and ease traffic-related fuel waste.
- Facing heavy import dependence, Bangladesh, a nation of 170 million people, imports 95 percent of its oil and gas and imposed daily fuel-sale limits on March 6 after panic buying amid the Middle East conflict.
- Enforcing measures, authorities authorised mobile courts in Dhaka to charge fuel rule breaches, and Home Minister Salahuddin Ahmed said, 'Traditionally we have decorative lighting and illuminations on Independence Day and other national days, but this time we will refrain from that, as part of the austerity measures'.
- As a result, Bangladesh has bought LNG on the spot market at sharply higher prices while seeking more cargoes, and the BPC said cutting fuel use by 25 percent would leave 14 days of diesel.
- Long queues formed and traffic backed away from filling stations in Dhaka and other cities for a second day on Monday, while officials asked police and army to secure stations and urged the public to stop panic buying.
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53 Articles
US oil executives warn global supply crunch may intensify
American oil executives are warning the Trump administration that the global energy crunch triggered by the Iran conflict could worsen as disruptions to shipping through the Strait of Hormuz threaten a major portion of the world’s oil supply, The Wall Street Journal writes. In recent White House meetings, the CEOs of ExxonMobil, Chevron and ConocoPhillips cautioned that continued volatility could push crude prices higher and create shortages of …
Oil Crisis Warning for Trump: The adverse effects of the war in the Middle East are being felt globally in the form of an oil and gas crisis. Now, American oil companies have issued a significant warning to Trump.
Oil prices have been soaring since the Iran war began. In recent days, oil industry leaders have warned Donald Trump.
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