Government must work for transparency on gas pricing: Experts

Experts taking part in a panel discussion on the pricing of gas in the country this week have unanimously expressed that the government needs to be seen to be working for and ensuring complete transparency on the pricing mechanism applied.

Gas price hike inadequate to attract investments

The new gas price of USD 5.61 per unit will not be adequate to attract investment in exploration as most discoveries in deepsea need a higher rate to be economically viable, top research organisations have said.

Oil Ministry wants RIL to sell gas at $4.2; $6-6.5 price for others

The new rates were to apply for gas from currently producing MA field in the same KG-D6 block as the government had accepted geological reasons forwarded by RIL for its output lagging targets.

Govt to announce new gas price by July 1

The government is likely to hike natural gas rates from July 1 after a new price formulation is approved by the Cabinet, a top Oil Ministry source said on Thursday .

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.

RIL, ONGC shares tank on delay in new gas price

Shares of gas producers like Reliance Industries and ONGC tanked in morning trade on Tuesday after the Election Commission asked the oil ministry to defer new gas price till the general elections are over.

BP, Niko say they are part of RIL gas arbitration

With new gas price announcement being held hostage to technicalities, British energy giant BP and Niko Resources of Canada have told Oil Ministry that they are party to the arbitration initiated by Reliance Industries on KG-D6 gas production lagging targets.