Govt cuts domestic natural gas price to $7.85/mBtu for Sep
This story was originally published at 17:12 IST on 31 August 2024
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NEW DELHI – The government has reduced the price of domestically produced natural gas to $7.85 per mBtu for September from $8.51 per mBtu in August on a gross calorific value basis, the oil ministry's Petroleum Planning and Analysis Cell said in a notification.
The natural gas produced by Oil and Natural Gas Corp Ltd and Oil India Ltd will be subject to a ceiling of $6.50 per mBtu on a gross calorific value basis for September, according to the notification issued today.
In April 2023, the petroleum and natural gas ministry amended the New Domestic Natural Gas Pricing Guidelines, 2014, to integrate several recommendations of the Kirit Parikh committee on gas pricing. The revised guidelines mandate that domestic natural gas prices be 10% of the Indian crude oil basket price and be declared every month by the Petroleum Planning and Analysis Cell on the last day of the month. End
US$1 = 83.86 rupees
Reported by Aaryan Khanna
Edited by Avishek Dutta
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