 "India says will not change domestic gas price formula")
India will not change its domestic gas price formula which was set up in 2014, Oil Minister, Dharmendra Pradhan, said on October 5.
On September 30, the government reduced the price of natural gas produced in India by 18 percent to $2.50 per million metric British thermal units (mmBtu) for the October to March 2017 period.
Rating Agency Fitch said in a note that while the lower gas prices will not significantly hurt the borrowing capacity of India's second largest state-owned exploration and production company Oil India Ltd, it will be selling natural gas at a loss.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app