February 22, 2018 10:27 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Bangladesh Oil, Gas & Minerals Corporation

Company Overview

Bangladesh Oil, Gas & Minerals Corporation, also known as Petrobangla Ltd., is engaged in the exploration, production, transmission, marketing, distribution, and conversion of oil and gas. It also engages in coal and granite mining; the development and marketing of minerals; and production sharing contracts. The company also extracts and refines compressed natural gas/LPG for bottling and marketing. Bangladesh Oil, Gas & Minerals Corporation was formerly known as Petrobangla Ltd. and changed its name to Bangladesh Oil, Gas & Minerals Corporation in August 1985. The company was founded in 1972 and is based in Dhaka, Bangladesh.

Petrocentre

3, Kawranbazar

Dhaka,  1215

Bangladesh

Founded in 1972

Phone:

880 2 8114941

Fax:

880 2 9120224

Key Executives for Bangladesh Oil, Gas & Minerals Corporation

Director of Finance
Director of Operation & Mines
Secretary
Director of Administration
General Manager of Development & Production
Compensation as of Fiscal Year 2017.

Bangladesh Oil, Gas & Minerals Corporation Key Developments

Niko Says Court Rules in Favour of Petitioner

As previously disclosed, Niko Resources Ltd. said that in May 2016, a writ petition was filed before the Supreme Court of Bangladesh, High Court Division in Dhaka by a citizen of Bangladesh (petitioner) against the Government of Bangladesh (GOB); Bangladesh Oil, Gas and Mineral Corporation (Petrobangla); Bangladesh Petroleum Exploration & Production Company Limited (Bape); Niko Resources (Bangladesh) Ltd. (NRBL); and Niko. The writ petition relates to the Feni Gas Purchase and Sales Agreement between Petrobangla and NRBL for the Feni gas field and the Joint Venture Agreement between Bapex and NRBL for the Feni and Chattak fields in Bangladesh, which agreements are currently the subject of previously disclosed arbitration disputes to be decided upon by a tribunal panel constituted under the rules of the International Centre for Settlement of Investment Disputes (ICSID). In the court, the presiding judge announced its decision in favour of the petitioner and declared: the Feni GSPA and the JVA to be without legal authority and of no legal effect; and the assets of NRBL and Niko, including its shareholding in the indirect subsidiary that holds a 60% interest in the Block 9 production sharing contract (Block 9 PSC), are seized to provide adequate compensation for the blowouts that occurred in 2005 in the Chattak field in Bangladesh. An application has been filed to receive the full written judgement of the court. Niko believes that ICSID has exclusive jurisdiction to decide all disputes relating to the Feni GPSA and the JVA and the Block 9 PSC provides for ICSID arbitration as the default dispute resolution mechanism to decide disputes relating to the Block 9 PSC. Niko will vigorously pursue its rights in this matter.

Petrobangla Presents at FSRU Asia Summit 2017, Jun-21-2017 02:15 PM

Petrobangla Presents at FSRU Asia Summit 2017, Jun-21-2017 02:15 PM. Venue: Equarius Hotel, Singapore. Speakers: Abul Mansur, Chairman.

Bangladesh Oil, Gas & Minerals Corporation Presents at 3rd Annual LNG & Natural Gas Markets Asia Conference, Jun-01-2017 02:35 PM

Bangladesh Oil, Gas & Minerals Corporation Presents at 3rd Annual LNG & Natural Gas Markets Asia Conference, Jun-01-2017 02:35 PM. Venue: Novotel Singapore Clarke Quay, 177A, River Valley Road, Singapore 79031, Singapore. Speakers: Abul Mansur Md Faizullah, Chairman.

Recent Private Companies Transactions

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Date
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No transactions available in the past 12 months.
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