{"id":376989,"date":"2020-10-06T11:10:51","date_gmt":"2020-10-06T05:40:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376989"},"modified":"2020-10-06T11:10:51","modified_gmt":"2020-10-06T05:40:51","slug":"gas-price-reduction-will-lower-earnings-for-ongc-oil-india-moodys","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gas-price-reduction-will-lower-earnings-for-ongc-oil-india-moodys\/","title":{"rendered":"Gas price reduction will lower earnings for ONGC, Oil India: Moody&#8217;s"},"content":{"rendered":"<p>SINGAPORE : The recently-announced 25% reduction in domestic natural gas prices to 1.79 dollars per million British thermal units (MMBtu) from 2.39 dollars per MMBtu on a gross calorific value basis is credit negative for upstream companies like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) as it will lower their revenue from gas sales, according to Moody&#8217;s Investors Service.<\/p>\n<p>These companies are already grappling with low oil prices and a further reduction in natural gas prices will exacerbate their earnings decline. However, said Moody&#8217;s, gas sales account for 18 to 19% of the companies&#8217; upstream revenues.<\/p>\n<p>After three consecutive price reductions in 12 months, India&#8217;s gas prices are at their lowest level since November 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE : The recently-announced 25% reduction in domestic natural gas prices to 1.79 dollars per million British thermal units (MMBtu) from 2.39 dollars per MMBtu on a gross calorific value basis is credit negative for upstream companies like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) as it will lower their revenue from gas sales, according to Moody&#8217;s Investors Service. These companies are already grappling with low oil prices and a further reduction in natural gas prices will exacerbate their earnings decline. However, said Moody&#8217;s, gas sales account for 18 to 19% of the companies&#8217; upstream revenues. [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-376989","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376989","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=376989"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376989\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}