India should benchmark gas price to deficit nations: S&P
India should benchmark gas price to deficit nations: S&P

India should benchmark its natural gas prices to similar gas-deficient nations instead of using rates prevalent in gas-surplus geographies like the US and Canada, says Standard & Poor's Ratings Services.


Gas prices to dip below $4.2/unit from October 1

Natural gas prices in India may, from October 1, fall below USD 4.2 per unit, a rate that was used last year to devise a new pricing formula to incentivise domestic exploration.

Barclays raises crude oil price forecasts

Barclays raised its 2015 and 2016 average crude price forecasts on Tuesday, citing geopolitical tensions, unplanned production outages and lower natural gas prices in the United States.

Cabinet clears pooling of gas prices to help revive stuck power plants

The Cabinet Committee on Economic Affairs on Wednesday approved a major policy intervention, through an innovative mechanism, to revive and improve utilization of the stranded gas based power generation capacity in the country.

Niko to sell stake in RIL block on lower gas price hike
Niko to sell stake in RIL block on lower gas price hike

Niko holds 10 percent stake in the KG-D6 block where a total of 20 oil and gas discoveries had been made and three out of them are in production.

Govt to start consultations afresh on raising gas prices

Gas producers want gas prices to be raised as they feel the current USD 4.2 per mmBtu rate is insufficient to make discoveries economically viable to produce.

RIL says gas price hike not to affect cost of LPG, food items

Reliance Industries on Friday dubbed as a "canard" allegations that the near-doubling of natural gas prices will lead to a similar hike in domestic cooking gas (LPG) and inflation in food item rates.

Natural gas to outpace all energy sources until 2035: Report

The report estimates that global energy consumption will grow by 41 percent from 2012 to 2035.

CNG price may rise by steep Rs 8 per kg from April

Close on the heels of the biggest-ever increase of Rs 4.50 per kg, the cost of CNG may go up by a steep Rs 8 per kg from April 1 when natural gas prices will almost double.

Cabinet to decide on capping natural gas price hike

The Union Cabinet had in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas (LNG).

No going back on gas price hikes; notification soon: Moily

Oil Minister M Veerappa Moily on Tuesday ruled out reversal of the decision to double natural gas prices from April 1 next year and said that the notification on this will be issued shortly.

Parl panel flays govt decision to hike natural gas price

The panel also said Reliance Industries should supply the quantity it had committed but failed to deliver in the past three years at the old rate of USD 4.2.

Gas price hike: OilMin rebuts charges of windfall gains to RIL

A week after doubling of natural gas prices was approved, the Oil Ministry today rebutted charges of the move resulting in windfall gains to Reliance Industries, saying new gas production from the company's fields will not start before 2017-18.

Govt approves near doubling of natural gas price

Biting the bullet, the government Thursday approved near doubling of natural gas prices to USD 8.4 from April 1 next year, a move which will result in rise in power tariff, urea cost and CNG prices.

CPI demands Moily`s resignation over gas price hike

CPI sought resignation of Petroleum Minister Veerappa Moily and probe into ministry`s proposal to hike natural gas prices, alleging it would subvert national interests and favour big corporate house.

Gas price revision to spur investment: Moily

Amidst a row over his ministry's proposal to raise natural gas prices, Oil Minister M Veerappa Moily on Wednesday said the revision in rates was a contractual requirement which will help remove policy uncertainty and spur investments that have almost dried up.

Moily asks Kelkar to suggest roadmap for freeing gas prices

Oil Minister M Veerappa Moily has asked the Vijay Kelkar panel on energy security to suggest roadmap for freeing natural gas prices by March 2017.