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Gas prices News

08 Oct 2022

OPEC's sovereign right to decide on oil production: Hardeep Singh Puri

Hardeep Singh Puri refrained from commenting on OPEC's decision to cut oil production However, Puri said the move is likely to be scrutinized very carefully He said that India as one of the major consumers of oil and gas also has a major say in the global oil market

30 Sep 2015

Gas price cut to $3.82, will dent govt revenues by Rs 800 cr

Locally produced gas in India will cost 18 percent less during October-March compared with the first half of the current fiscal year, a source with knowledge of the matter said on Wednesday, due to a decline in global prices.

16 Aug 2015

Gas prices to dip below $4.2/unit from October 1

Natural gas prices in India may, from October 1, fall below USD 4.2 per unit, a rate that was used last year to devise a new pricing formula to incentivise domestic exploration.

12 Jun 2015

Reliance seeks freedom to fix gas prices

"In this context, it is important to follow the intent, purpose and commitment of the NELP Policy i.e. Maximising E&P activities, getting the risk reward balance right and providing marketing and pricing freedom. This will provide predictability and certainty to the investors," he said.

25 May 2015

Iran raises gas prices by 40% in subsidy cut: Report

Iran will raise gasoline prices by some 40 percent, the country's official news agency reported, the latest cut to the Islamic Republic's fuel subsidies that cost it some USD 32 billion a year.

17 May 2015

Government to allow market price for some natural gas

The government may allow a part of the natural gas produced by firms like ONGC and Reliance Industries from new discoveries to be sold at market price as it looks to boost domestic exploration and production.

27 Apr 2015

India asks Qatar to lower LNG price to match global slump

India buys 7.5 million tonnes a year of LNG on a long-term 25 year contract, indexed to a moving average of crude oil price.

Domestic natural

02 Apr 2015

'Gas price cut to bring down urea subsidy bill by Rs 930 cr'

The near 8 percent cut in domestic natural gas price will help bring down urea subsidy bill by Rs 930 crore, India Ratings & Research (Ind-Ra) has said.

31 Mar 2015

Govt cuts natural gas prices by 8% to $4.66 per unit

Natural gas prices was Tuesday cut by about 8 percent to USD 4.66 a unit to reflect the softening in international prices, a move that will lower electricity and fertiliser costs.

Domestic natural

27 Mar 2015

Natural gas price to be cut by 9% to $4.56 from April 1

In the first ever reduction in domestic natural gas prices, the rates will be slashed by 9 percent to USD 4.56 per unit from April 1 to reflect the softening in international prices, benefiting users in the power and fertiliser sectors.

25 Mar 2015

Cabinet clears pooling of gas prices to help revive stuck power plants

The Cabinet Committee on Economic Affairs on Wednesday approved a major policy intervention, through an innovative mechanism, to revive and improve utilization of the stranded gas based power generation capacity in the country.

Global Oil Prices

17 Dec 2014

Reduction in gas prices is a net positive for US economy: WH

A reduction in the global oil prices is net positive for the US economy, the White House has said, pointing out that for the first time in 2014 America is now exceeding both Saudi Arabia and Russia in oil production.

Diesel deregulation

17 Dec 2014

'Diesel deregulation, gas price to have positive impact on oil companies'

Key oil and gas sector reforms like diesel deregulation and a new gas pricing policy will have a positive impact on companies engaged in fuel retailing and gas production, says a report by Fitch Ratings.

20 Oct 2014

Gas price hike fruitful if discoms buy costlier power: NTPC

Choudhury said the company is focusing on installing Rooftop Solar PV systems at available roof areas in power stations to meet the energy requirements of its various offices.

19 Oct 2014

Gas price hike to add Rs 1,950 cr to ONGC profits this fiscal

State-owned Oil and Natural Gas Corp (ONGC) will rake in about Rs 1,950 crore in additional profit this fiscal from the 46 percent rise in natural gas prices announced by the government.

24 Sep 2014

Govt postpones decision on revision of natural gas prices

Days ahead of its own deadline for the revision of natural gas prices, government on Wednesday postponed a decision on it by another 45 days to November 15.

14 Sep 2014

Naidu writes to Modi, supports gas price pooling

Andhra Pradesh Chief Minister N Chandrababu Naidu has asked Prime Minister Narendra Modi to expedite pooling of natural gas prices to make available affordable fuel to power plants.

08 Sep 2014

Gas pricing: Panel to submit report on new formula by Wednesday

A four-member panel of secretaries will submit its report on a new gas pricing mechanism by Wednesday, Oil Secretary Saurabh Chandra said Monday.

29 Jun 2014

Govt to start consultations afresh on raising gas prices

Gas producers want gas prices to be raised as they feel the current USD 4.2 per mmBtu rate is insufficient to make discoveries economically viable to produce.

26 Jun 2014

Unfair to expect gas price decision by new govt so soon: ONGC

The UPA government-approved formula, if implemented, would have increased power tariffs by Rs 2 per unit and CNG rates by Rs 12 a kg.

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