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Natural gas price cut marginally to $2.48 mmBtu

Natural gas price was Friday cut marginally to USD 2.48 per million British thermal unit, the fifth reduction in two years.

Govt to hike gas price for ONGC, RIL by 60%

In a boost to firms like ONGC and Reliance Industries, the government plans to raise natural gas price by about 60 percent for their undeveloped gas discoveries in difficult areas.

US crude oil holds near 2009 lows as global glut persists

US crude oil holds near 2009 lows as global glut persists

US crude prices remained near 2009 lows in early Asian trading on Friday as oil output in the Middle East continued to rise despite an existing global glut.

Govt cuts natural gas prices by 8% to $4.66 per unit

Natural gas prices was Tuesday cut by about 8 percent to USD 4.66 a unit to reflect the softening in international prices, a move that will lower electricity and fertiliser costs.

Natural gas price to be cut by 9% to $4.56 from April 1

The government had in October last year fixed natural gas price at USD 5.05 per million British thermal unit.

Natural gas price to be cut by 10% to $5.02/unit from April 1

The price of domestically produced natural gas is likely to be slashed by over 10 percent to USD 5.02 per unit from April 1, the first ever reduction in rates of the fuel.

BP says gas price hike positive step

BP plc, Europe's third-biggest oil company, has said that the 33 percent increase in natural gas price is a positive step towards creating an economic landscape that helps in development of gas resources.

Modi's govt frees diesel prices, easing state grip on economy

The decision is providing a fillip to investor hopes that the government may take more steps to modernise India`s economy and revive stumbling growth.

Modi govt's big reform push: Diesel deregulated, natural gas price hiked

In a major reform push, the government on Saturday deregulated diesel prices but hiked natural gas tariff by 46 percent that will push up fertiliser, power, CNG and PNG rates.

Govt raises natural gas price to $5.61/unit

The government on Saturday approved raising natural gas price to USD 5.61 per mmBtu from November 1 but Reliance Industries will continue to get current USD 4.2 rate till it makes up for shortfall in output from KG-D6 block.

Delay in gas price hike frustrating, says BP

BP Plc, Europe's second-largest oil company, on Thursday said the delay in implementation of a natural gas price hike was frustrating as the delay was holding back investments.

ONGC says needs $6-7.15 gas price to break-even

Pitching for a higher remunerative price for natural gas, state-owned Oil and Natural Gas Corp (ONGC) has said it needs USD 6-7.15 to break-even on gas it plans to produce from its most prolific KG basin block.

Price of Natural gas should not be increased: Trade Body

A city based trade body, representing the chemical industries, Saturday said the recommendations of the Rangarajan Committee set up during the UPA regime for fixing the price of natural gas had "several flaws" and that the price should not be increased.

Unfair to expect gas price decision by new govt so soon: ONGC

The UPA government-approved formula, if implemented, would have increased power tariffs by Rs 2 per unit and CNG rates by Rs 12 a kg.

Govt to slap additional penalty of $578 million on RIL

The government plans to impose an additional penalty of USD 578 million on Reliance Industries for producing less-than-targeted natural gas from its eastern offshore KG-D6 block.

RIL asks Oil Min to announce new gas price on May 13

Reliance Industries has asked Oil Ministry to announce a new natural gas price immediately after polling ends on May 12, saying this was necessary to avoid irreparable loss to all parties, including the government.

Higher rates will help increase domestic gas output: Moily

Defending the government decision to double natural gas prices from April next year, Oil Minister M Veerappa Moily on Friday said higher rates will help raise domestic production and cut dependence on imports.

Rs 11,000-cr payout plan to subsidise cost of gas-based power

With gas supplies to power plants drying up, the Power Ministry has moved the Cabinet Committee on Economic Affairs (CCEA) proposing about Rs 11,000 crore payout to subsidise costlier power arising from rising gas rates.

Double-digit gas price will halve demand: Moily

Amidst a row over doubling of natural gas prices, Oil Minister M Veerappa Moily Tuesday said a double digit rate will halve the demand for environment- friendly fuel in the country.

CNG prices hiked by a steep Rs 3.70 per kg

Price of Compressed Natural Gas (CNG) sold to automobiles in the national capital has been increased from Rs 41.90 to Rs 45.60 per kg with effect from midnight tonight.