Price Cut
Government lowers domestic natural gas price to $7.29/mBtu for December
This story was originally published at 13:13 IST on 2 December 2024
Register to read our real-time news.Informist, Monday, Dec. 2, 2024
MUMBAI – The government has reduced the price of domestically produced natural gas to $7.29 per million British thermal unit for December from $7.53 per mBtu in November on a gross calorific value basis, the oil ministry's Petroleum Planning and Analysis Cell said in a notification issued on Saturday.
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 December, according to the notification.
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 previous month. End
US$1 = INR 84.68
Reported by Ashutosh Pati
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
