{"id":377787,"date":"2020-10-12T11:20:40","date_gmt":"2020-10-12T05:50:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=377787"},"modified":"2020-10-12T15:43:28","modified_gmt":"2020-10-12T10:13:28","slug":"ongc-losing-rs-6k-7k-cr-on-natural-gas-biz-every-year","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-losing-rs-6k-7k-cr-on-natural-gas-biz-every-year\/","title":{"rendered":"ONGC \u2018losing Rs 6K-7K cr on natural gas biz\u2019 every year"},"content":{"rendered":"<p>ONGC is losing around Rs 6,000 -7,000 crore every year on its natural gas business as the price of the gas produced under the administered price mechanism (APM) remains well below the cost of production for the company, according to a senior official of the state-run oil marketing company.<\/p>\n<p>Over 95 per cent of ONGC\u2019s production of 60-65 MMSCMD is priced under the government\u2019s APM. The central government recently lowered the price of natural gas under the APM to $1.79 per mmBtu from $2.39 mmBtu for six months starting October 1.<\/p>\n<p>\u201cRs, 6,000-7,000 crore is the loss from the gas business per se\u201d said Subash Kumar, director (finance) of ONGC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ONGC is losing around Rs 6,000 -7,000 crore every year on its natural gas business as the price of the gas produced under the administered price mechanism (APM) remains well below the cost of production for the company, according to a senior official of the state-run oil marketing company. Over 95 per cent of ONGC\u2019s production of 60-65 MMSCMD is priced under the government\u2019s APM. The central government recently lowered the price of natural gas under the APM to $1.79 per mmBtu from $2.39 mmBtu for six months starting October 1. \u201cRs, 6,000-7,000 crore is the loss from the gas [&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":[130],"tags":[],"class_list":["post-377787","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377787","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=377787"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377787\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=377787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=377787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=377787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}