Shares of oil & gas companies were in focus and trading higher by up to 4 per cent on the BSE in Monday’s intra-day trade after the Government of India accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the administered pricing mechanism (APM) fields, that are legacy fields and largely held by PSUs like ONGC.
Going forward, natural gas produced from legacy fields will be priced at 10 per cent of the Indian crude basket’s price, subject to dynamic floor and ceiling prices.
The move is expected to reduce by 10 per cent the prices of piped natural gas (PNG), supplied to households,
