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Gas Pricing News

30 Mar 2016

Govt to cut natural gas prices by 17% to $3.15 per mmBtu

As per the new gas pricing formula approved by the NDA-government in October 2014, gas prices are to be revised every six months and the next change is due on April 1.

14 Mar 2016

New policies to attract investments in oil & gas sector: S&P

The new price formula and calibrated marketing freedom for gas produced from fields in difficult terrain could help attract investments in India's oil and gas sector, said Standard & Poor's Ratings Services.

13 Mar 2016

Filed suit against govt to expedite pricing case: Anil Agarwal

Lamenting that decision making in India could have been quicker, mining baron Anil Agarwal has said his company Cairn India filed a suit against government to "help" latter decide on price and tenure of Rajasthan oilfield faster.

12 Mar 2016

D5 Block: ONGC sees over $4 billion investment, announcement very soon

On the heels of the government announcing a slew of reforms in the oil and gas sector, state-run explorer ONGC today said it will finalise "a multi- billion dollar investment plan" for the 98/2 fields of D5 Block in the KG Basin by the month-end or early April

11 Mar 2016

Gas pricing freedom for RIL only if it withdraws arbitration

The government's move to free gas pricing for undeveloped gas fields in difficult areas will not apply to Reliance Industries' KG-D6 finds unless the Mukesh Ambani firm withdraws arbitration challenging the government's authority to decide rates.

25 Nov 2015

Free gas pricing policy won't help 15-17 Tcf gas discoveries

Government move to free natural gas pricing will not resolve the issue of economically developing already discovered 15-17 trillion cubic feet of gas reserves as the policy will only apply to future finds.

02 Oct 2015

India should benchmark gas price to deficit nations: S&P

India should benchmark its natural gas prices to similar gas-deficient nations instead of using rates prevalent in gas-surplus geographies like the US and Canada, says Standard & Poor's Ratings Services.

11 Sep 2015

BP for extending marketing, pricing freedom to gas fields

BP Plc, Europe's second-largest oil company, Friday made a case for extending the marketing and pricing freedom given to operators of marginal and small oil and gas fields to conventional fields like KG basin D6 block.

28 Aug 2015

Govt to fix formula for premium on gas pricing soon: Pradhan

Petroleum Minister Dharmendra Pradhan on Friday said the government would soon finalise a formula to calculate premium on gas pricing for difficult blocks.

10 Aug 2015

Govt to announce new gas price formula for 'difficult fields'

Government will "any day" announce a decision to allow market price for part of gas discoveries made in future from difficult fields, Oil Minister Dharmendra Pradhan said Monday.

06 Aug 2015

HC to decide on Aug 11 bench to hear RIL, Centre pleas

The Delhi High Court Thursday said it will decide on August 11 the bench that will hear RIL and the Centre's pleas against the city government's decision to lodge an FIR against two former Union ministers in connection with alleged irregularities in raising the price of gas from the company's KG6 basin.

18 Feb 2015

Stable policy regime must for investments in gas sector: Expert

Slamming the new natural gas formula as making "no sense", world renowned energy expert Fereidun Fesharaki has said only guaranteed market prices along with stable policy regime would bring in investments from global majors.

14 Nov 2014

Fresh guidelines to supersede UPA's policy: Centre to SC on gas pricing

The Rangarajan formula on gas pricing was approved by the previous UPA government. Rangarajan was Chairman, Economic Advisory Council to the then Prime Minister.

22 Oct 2014

Decision on premium for deep sea gas discoveries by early 2015

The government will by early next year decide on the premium that will be paid for new gas discoveries in deep-sea over and above the just approved rate of USD 5.61, Oil Secretary Saurabh Chandra said Wednesday.

19 Oct 2014

Gas price hike to add Rs 1,950 cr to ONGC profits this fiscal

State-owned Oil and Natural Gas Corp (ONGC) will rake in about Rs 1,950 crore in additional profit this fiscal from the 46 percent rise in natural gas prices announced by the government.

18 Oct 2014

Modi's govt frees diesel prices, easing state grip on economy

The decision is providing a fillip to investor hopes that the government may take more steps to modernise India`s economy and revive stumbling growth.

18 Oct 2014

Govt raises natural gas price to $5.61/unit

The government on Saturday approved raising natural gas price to USD 5.61 per mmBtu from November 1 but Reliance Industries will continue to get current USD 4.2 rate till it makes up for shortfall in output from KG-D6 block.

Anti-Corruption Branch

16 Oct 2014

Gas price: ACB can prosecute RIL, Moily, Deora, Delhi govt tells HC

The Delhi High Court was Thursday informed by the city government that its Anti-Corruption Branch has the power to probe the case against RIL and former UPA ministers Veerappa Moily and Murli Deora relating to alleged irregularities in raising price of gas from the company's KG6 basin.

24 Sep 2014

Cabinet postpones decision on revision in gas prices till Nov 15

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday postponed decision on revision in gas prices till November 15 amidst sharp difference between the oil ministry and power ministry over the quantum of increase.

23 Sep 2014

Govt has narrow window for gas price as deadline looms large

The government has a narrow window of one day to approve a new gas pricing mechanism to meet its own deadline of announcing a new rate.

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