{"id":481919,"date":"2022-04-04T11:05:30","date_gmt":"2022-04-04T05:35:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=481919"},"modified":"2022-04-04T11:05:30","modified_gmt":"2022-04-04T05:35:30","slug":"ongc-to-see-3-billion-rise-in-earnings-reliance-1-5-billion-from-gas-price-hike","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-to-see-3-billion-rise-in-earnings-reliance-1-5-billion-from-gas-price-hike\/","title":{"rendered":"ONGC to see $3 billion rise in earnings, Reliance $1.5 billion from gas price hike"},"content":{"rendered":"<p>State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a $3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces, while Reliance Industries may get $1.5 billion (Rs 11,500 crore) more in revenue, a report has said. The government from April 1 increased the gas price paid to producers of oil and regulated fields from $2.9 per million British thermal units to $6.10, a record high. For difficult fields, such as deepsea fields of Reliance, the price has gone up by 62 per cent to $9.92 per mmBtu.<\/p>\n<p>&#8220;A three-pronged deficit in oil markets (inventory, capex and spare capacity) combined with rising domestic gas production after nearly a decade of declines sets the stage for a super-cycle in profitability,&#8221; Morgan Stanley said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a $3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces, while Reliance Industries may get $1.5 billion (Rs 11,500 crore) more in revenue, a report has said. The government from April 1 increased the gas price paid to producers of oil and regulated fields from $2.9 per million British thermal units to $6.10, a record high. For difficult fields, such as deepsea fields of Reliance, the price has gone up by 62 per cent [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-481919","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481919","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=481919"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481919\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=481919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=481919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=481919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}