Natural gas prices cut by 20%; CNG, cooking gas to be cheaper

Natural gas prices cut by 20%; CNG, cooking gas to be cheaper

Price of natural gas produced from existing fields of state-owned ONGC and Reliance Industries has been cut to USD 3.06 per million British thermal unit with effect from Friday, an oil ministry official said.

Qatar slashes gas price for India, waives penalty

Qatar slashes gas price for India, waives penalty

The price as per the revised formula will come to USD 6-7 per million British thermal unit as against USD 12-13 per mmBtu currently.

New gas price will discourage exploration: S&P

New gas price will discourage exploration: S&P

The steep downside revision in the price of domestic natural gas by the government at $3.82 per unit for six months from October 1 is set to influence the business decisions of oil exploration and production companies, American ratings services Standard & Poor's said on Sunday.


CNG price slashed by 80 paise per kg in Delhi

CNG price slashed by 80 paise per kg in Delhi

A day after natural gas prices were cut by 16 percent, CNG and piped cooking gas rates in the national capital region were Thursday reduced by 80 paise per kg and 70 paise per unit respectively.


Govt to fix formula for premium on gas pricing soon: Pradhan

Petroleum Minister Dharmendra Pradhan on Friday said the government would soon finalise a formula to calculate premium on gas pricing for difficult blocks.

Govt to announce new gas price formula for 'difficult fields'

Government will "any day" announce a decision to allow market price for part of gas discoveries made in future from difficult fields, Oil Minister Dharmendra Pradhan said Monday.

Ukraine suspends Russian gas purchases in new price row

Ukraine has announced the immediate suspension of all Russian gas purchases after EU-mediated negotiations aimed at keeping supplies running for at least three more months broke down.

RIL to defer gas field development if price outlook uncertain

RIL to defer gas field development if price outlook uncertain

Reliance Industries may defer development of R-Series and other satellite gas fields in the eastern offshore KG-D6 block if the gas price outlook was uncertain, its junior partner Niko Resources of Canada said.

RIL-BP to triple gas output from KG-D6 by 2021-22

Reliance Industries and its partner BP plc will nearly triple natural gas production from their eastern offshore KG-D6 block by 2021-22 in anticipation of a 'right' gas price covering their exploration risk.

Govt rebuts suit-boot remark, says UPA raised gas price to $9

Hitting back at Rahul Gandhi for his 'suit-boot' government comment, Oil Minister Dharmendra Pradhan Tuesday said the previous UPA regime had approved a gas price of USD 9 for firms like Reliance Industries without bothering about its impact on the common man.

Govt lowers April-Sept natural gas prices by 8%

Natural gas prices have been slashed by 8 percent to USD 4.66 per unit for the first half of next fiscal year from April 1 on gross heat value basis.

Govt asks GAIL to remit incremental KG-D6 gas price every month

Government has asked GAIL to remit to the exchequer on a monthly basis the incremental gas price from RIL's KG-D6 field towards recovery of profit share it claims is due from the private firm.

OilMin moves proposal to pool gas price for fertiliser plants

After power, the Oil Ministry has moved a proposal to pool or average out prices of domestic natural gas and imported LNG used by fertilizer plants to make the cost of fuel uniform and affordable.

Centre overrules Gujarat govt firm's demand for $8.5 gas price

The Centre has overruled Gujarat government-owned firm GSPC's demand for a gas price of USD 8.5 for its KG basin Deendayal field, saying the approved rate of USD 5.05 will apply on the company.

Oil Ministry may dip into RIL incremental gas price hike revenue account

Government may dip into Reliance Industries' incremental gas price hike revenue, accruing in a pool account, to recover its dues in the wake of the contractor failing to meet certain KG-D6 output targets.

RIL, partners to get $40 mn this fiscal from gas price hike

Reliance Industries and its partners will get about USD 40 million in additional revenue this fiscal for gas they produce from eastern offshore KG-D6 block after the government raised prices by 33 percent.

Gas price to dent RIL, but EPS, ROCE may still double: Barclays

liance Industries will get 33 percent higher gas price of USD 5.61 per mmBtu for output from MA field in the KG-D6 block, but its main D1&D3 fields will continue to get old rate of USD 4.2.

Gas pricing will ensure profit, not windfall profit: Jaitley

Days after approving lower than demanded gas price increase, Finance Minister Arun Jaitley has said the USD 5.61 per mmBtu rate will ensure explorers make profit but not windfall gain.

Investment decision only after clarity on gas price: RIL

Reliance Industries has said it will make a final investment decision on producing gas from the R-Cluster discovery in the flagging KG-D6 block only after the government decides on gas price hike.

Gas pricing: Panel submits report, price may go up by 50%

Though contents of the report have been kept under wraps, the official indicated that the price increase may be around 50 percent. Most of the domestically produced gas is currently sold at a price of USD 4.2 per mmBtu.