{"id":376446,"date":"2020-10-03T08:40:34","date_gmt":"2020-10-03T03:10:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376446"},"modified":"2020-10-03T09:09:45","modified_gmt":"2020-10-03T03:39:45","slug":"natural-gas-production-loss-making-after-gas-price-cut-rating-agencies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/natural-gas-production-loss-making-after-gas-price-cut-rating-agencies\/","title":{"rendered":"Natural gas production loss-making after gas price cut: Rating agencies"},"content":{"rendered":"<p>Natural gas production in India remains a loss-making proposition for most fields after the government cut gas price by a steep 25 per cent, rating agencies said on Thursday. <\/p>\n<p>The reduction in gas price to USD 1.79 per metric million British thermal unit (mmBtu) from USD 2.39 &#8220;is credit negative for upstream companies such as Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) as it will lower their revenue from gas sales&#8221;, Moody&#8217;s Investors Service said. <\/p>\n<p>Both these companies are already grappling with low oil prices and a further reduction in natural gas prices will exacerbate their earnings decline, it said adding that gas sales account for around 18-19 per cent of the companies&#8217;upstream revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Natural gas production in India remains a loss-making proposition for most fields after the government cut gas price by a steep 25 per cent, rating agencies said on Thursday. The reduction in gas price to USD 1.79 per metric million British thermal unit (mmBtu) from USD 2.39 &#8220;is credit negative for upstream companies such as Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) as it will lower their revenue from gas sales&#8221;, Moody&#8217;s Investors Service said. Both these companies are already grappling with low oil prices and a further reduction in natural gas prices will exacerbate their [&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-376446","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\/376446","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=376446"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376446\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}