In this issue

Bangladesh has so far failed to explore offshore hydrocarbon potentials. It is not that the government did not take any initiative, but what it had taken was apparently not enough to attract the International Oil Companies (IOCs) to work in the Bangladesh territories of the Bay of Bengal. Hardly a few IOCs responded to bids earlier invited by the government. Of the IOCs, ConocoPhillips signed PSC, carried out seismic surveys, and got some indications of lead and prospects, yet it left Bangladesh failing to convince Petrobangla to revise gas prices up from the prices offered in the PSC. Posco-Daewoo also left Bangladesh failing to arrange investment funds. Only Indian Company ONGC is working in two shallow blocks. Meanwhile, the government revised the PSC a few times but again failed to attract the IOCs. Experts say the lack of appropriate incentives and inappropriate gas pricing formulas were the reasons. Of late, the government appointed a consultant to suggest how the country could attract the IOCs. The firm recently recommended following a crude oil-linked pricing mechanism. Few experts consider it risky, but most favor such a move as a better alternative amid the present energy crisis. The policymakers were in a dilemma over the suggested pricing formula.

While Bangladesh badly needs the energy to keep running its growth engine, it is equally important not to take any decision in this regard without examining its pros and cons. A misstep could result in devastating consequences.

Energy & Power Magazine Description:

Energy & Power (EP) is the first and only full-fledged fortnightly magazine that deals with the much cried over energy and power sector in Bangladesh. Since its inception in June 16, 2003, EP is working very hard to 
a) Develop public consciousness on sustainable and even development of energy sector; 
b) Assist the policy makers in assuming pragmatic policies for a balanced development of the energy sector; 
c) Continuous supply of information among public; and 
d) Develop a group of reporters in this field 

Bangladesh is an energy deficit country like other countries in the region and most of the people do not have adequate access to the energy and power. The country is completely dependent on fossil energy source; at the same time, it is one of the most inefficient energy using countries in the world. 
It lacks efficiency in planning, management, generation, distribution, load management and even at the end user level consumption. 
In spite of the above drawbacks, issues relating to utilization of renewable energy, exploring alternative use of energy, planned use of environment friendly energy are significantly undermined in Bangladesh. 
The biggest challenge of Bangladesh is to find a path for balanced growth of its energy sector. Despite its resource constraints, EP dynamically strives to provide theenergy sector with a flow of information and create public awareness; so that policymakers get guidelines and platforms for its sustainable development.

Code of Ethics 
EP believes that public enlightenment is the forerunner of justice and the foundation of democracy. The duty of a journalist is to further those ends by seeking truth and providing a fair and comprehensive account of events and issues and professional integrity is the cornerstone of a journalist's credibility. We strive to serve the public with thoroughness and honesty.

The EP editorial policy is to share a dedication to ethical behavior and uphold the zero conflict of interest principles and highest standards of practice. 

EP believes in 
o Seeking truth and reporting the same 
o Minimize harm