{"id":294879,"date":"2019-10-04T10:34:53","date_gmt":"2019-10-04T05:04:53","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=294879"},"modified":"2019-10-04T10:36:14","modified_gmt":"2019-10-04T05:06:14","slug":"12-5-cut-in-natural-gas-price-is-credit-negative-for-ongc-moodys","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/12-5-cut-in-natural-gas-price-is-credit-negative-for-ongc-moodys\/","title":{"rendered":"12.5% cut in natural gas price is credit negative for ONGC: Moody&#8217;s"},"content":{"rendered":"<p>The 12.5 per cent cut in domestic natural gas price is credit negative for India&#8217;s biggest producer ONGC as its earnings will fall by over Rs 1,400 crore, Moody&#8217;s Investors Service said on Thursday. <\/p>\n<p>On September 30, the government announced a 12.5 per cent reduction in domestic natural gas price to $3.23 per million British thermal units (mmBtu) from $3.69 per mmBtu (on a gross calorific value basis). <\/p>\n<p>This is the first reduction in gas price in India since April 2017. <\/p>\n<p>&#8220;The price decrease is credit negative for Oil and Natural Gas Corporation Ltd (ONGC) because its revenue and earnings from the gas business will fall by around Rs 1,460 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 12.5 per cent cut in domestic natural gas price is credit negative for India&#8217;s biggest producer ONGC as its earnings will fall by over Rs 1,400 crore, Moody&#8217;s Investors Service said on Thursday. On September 30, the government announced a 12.5 per cent reduction in domestic natural gas price to $3.23 per million British thermal units (mmBtu) from $3.69 per mmBtu (on a gross calorific value basis). This is the first reduction in gas price in India since April 2017. &#8220;The price decrease is credit negative for Oil and Natural Gas Corporation Ltd (ONGC) because its revenue and earnings [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-294879","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/294879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=294879"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/294879\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=294879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=294879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=294879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}