Gas price for Reliance-bp cut by 3%, domestic rates remain unchanged
The ceiling price that Reliance Industries and its partner BP Plc, as well as operators, can charge for the natural gas they produce from deepsea and difficult fields has been cut by 3 per cent to USD 9.72 per MMBtu for six months starting October 1, an official order said.
Rates for gas from legacy fields, however, remain unchanged at USD 6.75 per million British thermal unit.
Two different formulas govern rates paid for gas produced from legacy or old fields of national oil companies like ONGC and OIL, and for newer fields lying in difficult-to-tap areas like deepsea.
