Domestic gas price hike of 6% brings small relief for producers: Report

The upcoming increase in the domestic natural gas price by 6 per cent on April 1 for the first six months of 2018-19 might give some relief for oil and gas producers but gas production remains either a

break-even or loss-making proposition for most fields, say reports.

The domestic gas price has been notified at $3.06 per million metric British thermal unit (mmBu) for the first half of 2019, from $2.89 per mmBtu for the second half of 2017-18.

This will increase the cost of manufacturing urea and petrochemicals, for which natural gas is used as feedstock. Reports say