Central & SE Asia / Australasia

Bangladesh flag
Summary | Profile

Country profile: Bangladesh

Location: Southern Asia, bordering the Bay of Bengal, between Burma and India
Climate: tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October)
Terrain: mostly flat alluvial plain; hilly in southeast
Size: 144000 sq. km total (Land area: 133910 sq. km  Water area: 10090 sq.km)
Population: 153,546,901 (July 2008 est.)
Languages: Bangla (official, also known as Bengali), English
Government: parliamentary democracy
Capital city: Dhaka
Legal system: based on English common law; has not accepted compulsory ICJ jurisdiction
Currency: taka (BDT)
Licensing:

Country profile

In 2005, Bangladesh’s real gross domestic product (GDP) grew at 5.4 percent, down somewhat from the 2004 growth rate of 6.3 percent. Economic forecasts are at 5.8 percent for 2006. Economic performance has been steady since 1990, with annual GDP growth averaging 5 percent. However, Bangladesh remains one of the world’s poorest and most densely populated countries, and faces a number of obstacles to further growth and development.

Despite recent growth, Bangladesh faces numerous challenges. According to the International Monetary Fund (IMF), the country is hampered by weak institutions and inadequate infrastructure. Bangladesh remains dependent on foreign aid and worker remittances for a large percent of its economic activity. In 2004, the government of Bangladesh estimated that remittances from expatriates totaled $3.3 billion, or 6 percent of nominal GDP. The country also remains vulnerable to natural disasters such as cyclones, floods, and droughts. This is especially true in the agriculture sector, which employs about two-thirds of the labor force and accounts for 22 percent of GDP.

Bangladesh is a member of the South Asian Association for Regional Cooperation (SAARC), along with Bhutan, India , Maldives, Nepal, Pakistan and Sri Lanka. SAARC aims to promote regional economic cooperation as well as economic and social development in South Asia. In 2004, the seven SAARC members agreed to create a South Asian Free Trade Area (SAFTA), which came into force on 1 January 2006. SAFTA aims to reduce tariffs and other trade barriers between the seven member countries.

Energy production and consumption


Oil Gas
Production: 6,746 bbl/day (2005) 13 billion cu m (2005 est.)
Consumption: 86,000 bbl/day (2005 est.) 13 billion cu m (2005 est.)
Exports: 1,100 bbl/day (2004)  
Imports: 81,010 bbl/day (2004)  
Reserves: 28 million bbl (1 January 2006 est.) 135 billion cu m (1 January 2006 est.)
Major fields:



Bangladesh - recent news

20 Feb 20
Bangladesh: Japan's Mitsui looking to explore two blocks onshore Bangladesh
Japan's Mitsui is looking to explore Bangladesh's onshore Blocks 8 and 11 under a joint venture with state-run Bapex in what would be the first-ever entry of any Japanese oil and gas exploration company into Bangladesh's hydrocarbon exploration sector.
03 Feb 20
Bangladesh: Gazprom and Petrobangla sign Memorandum of Understanding
Gazprom paid a working visit to the People's Republic of Bangladesh. As part of the visit, Gazprom signed with Petrobangla a five-year Memorandum of Understanding for strategic cooperation.
23 Aug 18
Bangladesh: Excelerate Energy commissions Bangladesh's first LNG import terminal
Excelerate Energy Bangladesh has completed the commissioning of its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh's first liquefied natural gas (LNG) import facility – signifying the official commencement of operations for the project.
13 Mar 18
Bangladesh's Summit Power to develop $3 bln LNG-to-power project with Japanese firms
Bangladesh's Summit Power International said on Tuesday it signed a memorandum of understanding with Japan's Mitsubishi Corp and subsidiary Diamond Gas International to develop a $3 billion LNG-to-power project.
31 Oct 17
Bangladesh: Chevron drops decision to leave Bangladesh
Chevron will not sell three subsidiaries and leave Bangladesh as planned, the Company said on Sunday. Chevron had said in April it would sell to China’s Himalaya Energy Co. the wholly owned subsidiaries that operate three gas fields, which together account for 58 percent of Bangladesh’s gas production.

Bangladesh - more news

Other countries in this region




A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 356

Completed Deals

Completed Upstream Deals: 5475

Company Profiles

Current Company Profiles: 2720

Corporate Activity

Current Corporate Activity articles: 3485

Companies Looking

Current number of articles: 438

Company Sales

Current Company Sales articles:1419

Geostudies

Current Geostudies articles: 731

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

SLR Consulting logo
Union Jack Oil 149
Bayphase
Rose & Assocs 149
KL Publishing
Geoespace
OPC
Government of South Australia
energy365
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com