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Gas Price
Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body. The Pakistan Business Council (PBC) informed Prime Minister Shehbaz Sharif on Tuesday about the development through a letter, the Export Tribune reported. In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported. The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper. "Your USD 60 billion export target by 2027 is unlikely to be achieved. The competitiveness of manufacturing for the domestic market, which
The government on Monday raised the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to USD 10.16 per million British thermal unit in line with international trends, an official notification said. However, the price of gas that is used for making CNG for fuelling automobiles or piping to household kitchens for cooking purposes will remain unchanged due to a price cap that is set at 30 per cent less than market rates such as that paid to Reliance. For the six-month period starting October 1, the price of gas from deep sea and high-pressure, high-temperature (HPTP) areas has been raised to USD 10.16 per mmBtu from USD 9.87 per mmBtu during April-September, oil ministry's Petroleum Planning and Analysis Cell (PPAC) said in a notification. The increase follows three straight bi-annual reductions in rates for difficult fields. Price was for six months beginning October 1, 2023, slashed 18 per cent to USD 9.96 per mmBtu from U
After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9. "To meet the increasing volume of CNG and domestic piped natural gas (PNG) segments and due to further shortfall in domestic gas allocation, MGL is sourcing additional market priced natural gas (imported LNG) which has resulted in higher gas cost," the firm said in a statement. To "partially offset the increase in gas cost", MGL has increased the delivered price of CNG by Rs 1.50 per kg and domestic PNG by Re 1 per standard cubic meter in and around Mumbai. Accordingly, the revised delivered prices inclusive of all taxes of CNG will be Rs 75 per kg and domestic PNG price will be Rs 48 per scm in and around .
The prices of CNG and cooking gas piped to household kitchens in the national capital on Saturday were cut by up to Rs 6 - the first reduction in two years - after the government changed the pricing formula of natural gas. CNG in the national capital territory of Delhi will now cost Rs 73.59 per kg, down from Rs 79.56, Indraprastha Gas Ltd (IGL) - the firm which retails CNG and piped cooking gas in the city, said in a Twitter post. Simultaneously, the rates of gas piped to household kitchens, called piped natural gas (PNG), has been cut to Rs 48.59 per standard cubic metre in Delhi from Rs 53.59 per scm, according to IGL. The reduction follows an over 80 per cent increase in prices in two years. CNG prices were hiked on 15 occasions between April 2021 and December 2022. Since April 2021, CNG prices have increased by Rs 36.16 per kg, or 83 per cent, according to data compiled by PTI. CNG prices were last hiked on December 17, 2022. Similarly, PNG rates have increased by 10 times ..
The Union Cabinet on Thursday approved a new formula for pricing of natural gas and imposed cap or ceiling price to rein in runaway prices of CNG and piped cooking gas. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to crude oil price instead of pricing it based gas prices in surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. From April 1, APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil). The rate such arrived at however will be capped at USD 6.5 per million British thermal unit as against current gas price of USD 8.57 per mmBtu. The price such arrived at will also have a floor of USD 4 per mmBtu. Rates will be decided every month instead of current practice of bi-annual revision, he said.