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India says producers can sell coal bed methane at market rate

Reuters  |  NEW DELHI 

(Reuters) - has permitted coal bed methane (CBM) producers to sell gas at the market rate, a statement said on Wednesday, a move that could help companies such as and Natural Gas Corp and Industries.

The producers can also now sell CBM gas to their affiliates if they are unable to find any other buyer, the statement said.

The will announced a price for CBM gas, which will be used as a floor for calculating its royalty and other charges.

But CBM producers will pay royalties and other dues to the on the basis of sale or market prices, if it is higher than the official rate, the statement added.

(Reporting by Nidhi Verma; Editing by Mark Potter)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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India says producers can sell coal bed methane at market rate

NEW DELHI (Reuters) - India has permitted coal bed methane (CBM) producers to sell gas at the market rate, a government statement said on Wednesday, a move that could help companies such as Oil and Natural Gas Corp and Reliance Industries.

(Reuters) - has permitted coal bed methane (CBM) producers to sell gas at the market rate, a statement said on Wednesday, a move that could help companies such as and Natural Gas Corp and Industries.

The producers can also now sell CBM gas to their affiliates if they are unable to find any other buyer, the statement said.

The will announced a price for CBM gas, which will be used as a floor for calculating its royalty and other charges.

But CBM producers will pay royalties and other dues to the on the basis of sale or market prices, if it is higher than the official rate, the statement added.

(Reporting by Nidhi Verma; Editing by Mark Potter)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
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India says producers can sell coal bed methane at market rate

(Reuters) - has permitted coal bed methane (CBM) producers to sell gas at the market rate, a statement said on Wednesday, a move that could help companies such as and Natural Gas Corp and Industries.

The producers can also now sell CBM gas to their affiliates if they are unable to find any other buyer, the statement said.

The will announced a price for CBM gas, which will be used as a floor for calculating its royalty and other charges.

But CBM producers will pay royalties and other dues to the on the basis of sale or market prices, if it is higher than the official rate, the statement added.

(Reporting by Nidhi Verma; Editing by Mark Potter)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22