ONGC seeks minimum $17 price for Bokaro coal gas
State-owned Oil and Natural Gas Corporation (ONGC) is seeking a minimum USD 17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand.
ONGC invited bids for the sale of 0.20 million standard cubic metres per day of gas it plans to produce from the Bokaro CBM block by the year-end, according to a tender document.
It sought bids on a formula indexed to the prevailing Brent crude oil price.
The reserve or floor price of gas will be 14 per cent of the Dated Brent crude oil Price plus USD 1 per million British thermal unit, ONGC said in the tender.
