Govt raises domestic natural gas prices to $7.94/mBtu for February
This story was originally published at 10:59 IST on 1 February 2025
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MUMBAI – The government has raised the price of domestically produced natural gas to $7.94 per million British thermal unit for February from $7.30 per mBtu in January, on a gross calorific value, 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 February, 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 domestic natural gas to be priced at 10% of the Indian crude oil basket price, and that these prices must be declared every month by the Petroleum Planning and Analysis Cell on the last day of the previous month. End
Reported by Ashutosh Pati
Edited by Namrata Rao
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