Fresh guidelines to supersede UPA's policy: Centre to SC on gas pricing

The Rangarajan formula on gas pricing was approved by the previous UPA government. Rangarajan was Chairman, Economic Advisory Council to the then Prime Minister.

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.

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.

Gas price: Formula review panel to meet Monday

With September 30 as the deadline to announce the new gas price, a four-member committee of secretaries (CoS) will meet with stakeholders on Monday to review that gas-pricing formula.

Gas price formula review panel to meet Monday

A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will hold its first meeting with stakeholders on Monday, a petroleum ministry source said.

Secretaries panel to review gas price formula

Nearly two months after it put off a steep gas price revision, the government has constituted a four-member committee of secretaries to hold consultations with stakeholders before deciding on the quantum of hike.

Govt to appoint panel to suggest alternative gas pricing model

The panel, which will comprise of Pratap Bhanu Mehta and Bibek Debroy, Chief Executive and faculty respectively, of think-tank Centre for Policy Research, will be asked to submit its report by August 31.

'Need to fix anomalies in Ranga formula before revising rates'

Days after the government put off natural gas prices hike by three months, Power & Coal Minister Piyush Goyal said there were anomalies in the proposed formula which needed to be fixed before revising rates.

RIL to sell gas at current rate as govt defers price revision

Reliance Industries will continue to sell natural gas from its eastern offshore KG-D6 fields at the current rate until the next government decides on a revision in prices.

Gas prices may jump to $10 in 2016-17, from $4.2 now

Natural gas prices in India may jump to USD 10 within three years of implementation of the Rangarajan formula, generating enough additional revenue to meet higher subsidy outgo on the fertiliser sector.

Govt not honouring contracts on KG-D6 gas block, says RIL

Amidst move to force Reliance Industries to sell gas from its main fields in KG-D6 block at old rates of USD 4.2, the Mukesh Ambani-run firm on Tuesday hit out saying the government was not honouring signed contracts and extraneous factors were being brought into business.

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.