pakistan
Bangladesh invites bids for oil and gas exploration
Key takeaways
- The South Asian nation imports 95 percent of its oil and gas, much of it from the Middle East, where shipments through the crucial Strait of Hormuz have virtually ground to a halt since the war began in late February.
- The fuel crunch has prompted long queues at petrol stations and power cuts, with electricity demand outstripping limited generation capacity.
- “Fuel is the main driver for development,” Energy Minister Iqbal Hasan Mahmud told a news conference in Dhaka, adding that contracts would be awarded “in the best interest of the country”.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize DHAKA: Bangladesh invited bids from international companies to explore oil and gas reserves on Sunday, scrambling to ease a fuel crunch as the Middle East war chokes vast quantities of global supply.
The South Asian nation imports 95 percent of its oil and gas, much of it from the Middle East, where shipments through the crucial Strait of Hormuz have virtually ground to a halt since the war began in late February.
The fuel crunch has prompted long queues at petrol stations and power cuts, with electricity demand outstripping limited generation capacity.
Article preview — originally published by ARY News. Full story at the source.
Read full story on ARY News →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from ARY News alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop