Govt more than doubles gas price; ONGC, Reliance to get record rates
The Government on Thursday more than doubled the price of domestically produced natural gas for the six months beginning April 1 on the back of a spike in global energy rates.
The price of gas from regulated fields of state-owned ONGC and Oil India Ltd will rise to a record USD 6.10 per million British thermal unit from the current USD 2.90, according to a notification issued by the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). The rate paid for difficult fields like deepwater will rise to USD 9.92 for April-September from USD 6.13 per mmBtu, it said.
