ONGC seeks minimum $17 price for coal gas from Bokaro
ONGC NSE -3.41 % is planning to auction gas from its coal bed methane (CBM) block in Jharkhand at a crude-linked reserve price that’s more than $17 per mmBtu at current oil rates.
ONGC and Indian Oil NSE 0.05 % own 80% and 20% participating interest respectively in the CBM block in Bokaro, Jharkhand. Gas from the block can be sold at market rates.
