In a setback to ONGC, OIL, prices of domestic natural gas slashed by 25%

The government has also reduced the ceiling price for gas produced from deepwater, ultra-deepwater and high pressure, and high-temperature areas by 28 per cent to $4.06 per mmBtu

Representative Image
Premium

Representative Image

Shine Jacob New Delhi
In a huge setback to producers like Oil and Natural Gas Corporation (ONGC) and Oil India (OIL), the central government on Wednesday cut the price of domestic natural gas to $1.79 per million metric British thermal unit (mmBtu) for the October-March period of the current financial year, down 25 per cent from $2.39 per mmBtu in the April-September period. 

The government also reduced the ceiling price for gas produced from deepwater, ultra-deepwater and high pressure, and high-temperature areas by 28 per cent to $4.06 per mmBtu for the period under review, as compared to $5.61 per mmBtu during April-September. The current

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 30 2020 | 7:34 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com