Member Info for jollychippy

Interesting last paragraph:

“Regardless of what climate activists state, pragmatic nations will utilise their natural fossil fuels to propel their economies forward because as has been the experience of countries like Bangladesh, an import-dependent fossil fuel energy plan is akin to driving the economy to near bankruptcy. Notwithstanding claims that renewable energy (RE) is becoming cheaper, even advanced economies like Germany have stepped back from RE solutions because it is both too expensive to produce and cannot replace cheap sources of fuel like coal and natural gas.”

https://thefinancialexpress.com.bd/views/columns/the-days-of-fossil-fuel-not-over-yet

Noted on BBC news app

A secret recording shows the chief executive of Azerbaijan's COP29 team, Elnur Soltanov, discussing "investment opportunities" in the state oil and gas company with a man posing as a potential investor.

“We have a lot of gas fields that are to be developed," he says.

A former head of the UN body responsible for the climate talks told the BBC that Soltanov's actions were "completely unacceptable" and a "betrayal" of the COP process.

A bit more pressure for the interim government

Unless the interim government issues a roadmap to the next election in a couple of months, the BNP may take to the streets in March or April next year, say top leaders of the party.

Members of the party's standing committee made the decision at a meeting on Monday night participated by BNP acting chairman Tarique Rahman through a video link.

https://www.thedailystar.net/news/political/news/bnp-polls-roadmap-2-3-months-3745666

Per the report, Bangladesh gets power from seven coal-fired power plants, which have a combined generation capacity of 7,099MW. But lately they have been producing less than half—around 3,199MW. Production in Matarbari and Barishal power plants are completely off, while Rampal, SS Power, and Barapukuria are operating at a significantly reduced capacity. These power plants have been hit with either coal shortage, mechanical problems or maintenance issues. Only the Payra power plant has been operating at full capacity.

The government needs to figure out—and quickly—how to resolve the current situation. It should plan ahead to keep the power supply across the country stable and ensure that further power shortages are averted.

https://www.thedailystar.net/opinion/editorial/news/plan-ahead-steady-power-supply-3744531

And the hits keep on coming:

Tk3,500-4,000 crore in new dues are added each month to the bill. However, with limited revenue collection, the Finance Ministry has only been able to pay down between Tk1,500-2,000 crore monthly, according to the official who wished to remain anonymous.

To manage the outstanding payments, the ministry is planning to issue a Tk5,000 crore bond hoping to stabilise at least some of the overdue payments, said the official.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

One of the biggest creditors is India's Adani Group with an outstanding balance of around $840 million, translating to over Tk10,000 crore.

The government has been prioritising Adani's dues, paying the company $204 million since July, including $97 million last month and $10 million in the first four days of November.

However, Energy Adviser Muhammad Fouzul Kabir Khan has said the government will not be overly concerned if Adani chooses to halt supply.

"Adani's power plant is only one of Bangladesh's many sources of electricity and the government has no special agreements binding it to these suppliers," he told The Business Standard.

https://www.tbsnews.net/bangladesh/energy/govt-faces-tk50000cr-power-and-energy-dues-plans-special-bond-payment-relief

Coal-fired power plants are dialling down production or even shutting down due to financial, legal or technical issues, leading to power cuts across the country, especially the rural areas.

https://www.thedailystar.net/news/bangladesh/news/now-coal-power-plants-scaling-back-production-3743916

On October 24, Matarbari 1,200MW Ultra Super Critical Coal Fired Power Plant ran out of coal, according to the data of Power Grid Bangladesh PLC. It was running at half its capacity for the previous couple of weeks.

Officials said it may not be possible to restart the plant before December.

"Coal procurement process is underway. We hope that the power production will be restarted when the coal arrives in mid-December," said Md Adnan Ibrahim, executive engineer (procurement) of Coal Power Generation Company Bangladesh Ltd.

He said his company has floated tenders for procuring around 3.5 million tonnes of coal. The plant needs around 10,000 tonnes a day.

Ibrahim said a change of coal supplier sparked legal issues that caused delays in purchasing coal.

The Barishal 307MW power plant, meanwhile, is down for maintenance, according to the Bangladesh Power Development Board (PDB).

Rampal and SS Power have been producing at half their capacities for a long time due to coal shortage.

A source at the PDB said the plants are running low on coal and producing less electricity mainly due to dollar crunch.

Two of the three units of Barapukuria power plant are in production and have been producing around 235MW, against the combined capacity of 444MW. The largest 275MW unit has been producing around 170MW due to mechanical problems, the PDB said.

Only Payra power plant has been producing at capacity.

the pressure is building :

bangladesh nationalist party (bnp) senior leader ***eshwar chandra roy on friday urged the interim government to prioritise completing electoral reforms fast, as people will not wait indefinitely for the next national election.

“the interim government was tasked with the main issue of ensuring a credible election and restoring people’s voting rights. but it is focusing on other issues, straying from the primary problem,” he said.

***eshwar made the remarks at an introductory meeting of the munshiganj district unit nari o shishu odhikar forum at the bnp’s nayapaltan central office.

https://en.prothomalo.com/bangladesh/politics/1usi1x14f5

Well they are really good at forming committees!

A few more mouths to feed for the government, and with net reserves still below $20b.

Maybe. Just maybe they might suggest using their own coal reserves to boost the economy and provide some welcome income from taxes, providing employment and fuels for their coal fired power generation. Now that would be a great idea 😂

😂 Hardly deals of the century, average over 4.85, guess I’m only a dumb builder with too much disposable income, and addicted to putting it in penny stocks. But hey my choice and I’m not trying to persuade others to buy or sell. Think we are all adults and able to make our own decisions and live with the consequences of them. But for me “ I have a Dream” 😂

Yet I’m not claiming to have sold out at 8p and still have a holding, yet despite the constant negative posting. If you had sold out, then why are you still holding ? Surely your own penny would have dropped.

Each to their own

Got another 100k buy at 2.34,

Thought I had finished adding, so now decided to add a few more, so please keep bashing YKIR, I would like to add another 150k at around 2p to round up my holdings.

Promise I will stop buying then !

Mmmm, dated September 2024

Cookoo land 😂

I’ll look forward to participating 😜

The National Review Committee (NRC) has invited people to submit evidences or information regarding corruption in power and energy sector, according to a public notification issued by the Ministry of Power, Energy and Mineral Resources in Dhaka on Thursday.

The committee requested people to submit their complaints and relevant documents to help investigate deals signed under the Speedy Supply of Power and Energy (Special Provision) Act 2010 during the previous Awami League regime, BSS reports.

https://thefinancialexpress.com.bd/trade/review-committee-invites-complaints-on-corruption-in-energy-sector

Hopefully the start of some movement

The interim government will hold a dialogue with the major political parties on Saturday (October 5) over the six reform commissions and the current law and order situation of the country.

Chief Adviser Prof Muhammad Yunus and other advisers will take part in the dialogue, Shafiqul Alam, press secretary of the chief adviser, told reporters at a press conference held at the Foreign Service Academy today.

https://www.thedailystar.net/news/bangladesh/news/interim-govt-hold-dialogue-major-political-parties-oct-5-3718071

YKIR - these messages seem to have a similar tone to old “professional “

Don’t know who is trying to kid

Yunus said he did not have a time frame for when Bangladesh would hold elections. Several commissions that were set up are expected to provide their reform recommendations in the coming months, after which the country will set a date for polls.

https://www.thedailystar.net/news/news/hasina-should-be-extradited-if-she-committed-crimes-yunus-3712831

“During the last one and half months since the establishment of the interim government, the Chinese enterprises have invested more than 85 million US dollars, demonstrating the confidence China holds for the future development of Bangladesh and our relations”.

Next year marks the 50th anniversary of diplomatic ties between China and Bangladesh.

Referring to this, Mr Wen said, China is looking forward to working closely with Bangladesh to cement our traditional friendship, deepen friendly exchanges and mutually beneficial cooperation in various areas, promote high-quality Belt and Road cooperation, further advance the comprehensive strategic cooperative partnership to a new height.

“Next year is also China-Bangladesh Year of People-to-People Exchanges”.

“We will come out with dozens of functions in the sectors of political exchanges, economic and trade cooperation, culture, education, tourism, sports, public health, youth, women, media, academic interactions” he added.

https://thefinancialexpress.com.bd/national/changes-inside-bd-wont-affect-chinas-commitment-to-the-country-says-envoy

So what’s the next step, How long are they prepared to wait to finally push the button that will make a difference

The interim government's move to purchase liquefied natural gas (LNG) from the spot market faced a setback as the bids offered fell short of minimum requirement under the Public Procurement Rules (PPR) 2008.

FE

The authorities concerned received two bids each in response to two tenders floated to import two LNG cargoes from the spot market, but the PPR requires at least three bidders to evaluate the bid documents, officials said.

The authorities couldn't even evaluate the bids after floating 'limited tendering', they said.

https://thefinancialexpress.com.bd/economy/move-to-import-spot-lng-under-ppr-faces-setback

Now china having a say ,,,,,,

The Chinese foreign minister said Beijing would also encourage greater cooperation and partnership between the companies of two nations. He said Bangladesh would also benefit from the Chinese decision to allow zero tariff access to all goods from the Least Developed Countries.

He further said Chinese Red Cross has sent a team of doctors to treat the students and people who were grievously injured during the July-August mass uprising.

China would welcome more students from Bangladesh, he said.

Yunus thanked China for the gesture.

He said Chinese solar companies could invest in a bigger way in Bangladesh, which enjoys preferable market access to many rich nations.

https://www.thedailystar.net/news/bangladesh/diplomacy/news/china-willing-invest-solar-panel-plants-bangladesh-3712621

So here we are still holding strong,

The herd arrived and says we’re wrong.

A snippet comes out of news we seek,

We all click the link to have a little peek.

Some disagree with what it may mean,

Some are full of it and not so keen.

A few are here for riches in great store,

And some are here and become a bore.

My belief is our future is bright,

If you believe that’s your given right.

We don’t need telling if we are wrong,

Just clear off and change your song.

We pay our money and take a chance,

We don’t cry and make a song & dance.

We are all grown up and know our mind,

Leave us alone if you would be so kind.

Some are here and own some shares,

There’s a few who don’t but who cares.

They spend their time saying it’s all bad,

But why are they here - it’s so sad.

There are a few who share and post,

Thanks to them we respect the most.

So keep going Searcher, Pappi & all,

Appreciate your efforts- good call.