Page 2 - Gas Price

Best of BS Opinion: Fixing gas prices, Delhi's pollution crisis, and more

Here is the best of Business Standard's opinion pieces for today:

Fixing gas prices

Producers should have policy certainty

Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'

The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said

Kirit Parikh panel suggests gas price of $4-6.5/unit for old fields: Report

In its submissions to the Oil Ministry on Wednesday, Kirit Parikh Panel has also asked the government to remove caps on gas prices in three years

ONGC gas price to be at $6.5 for 5 yrs, no change in Reliance-bp price

A government-appointed gas price review panel, led by Kirit Parikh, is recommending a floor and ceiling price for natural gas produced from legacy fields of state-owned firms for five years to help moderate CNG and piped cooking gas rates. State producers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be paid a minimum or floor price of USD 4 per million British thermal unit and a cap or ceiling price of USD 6.5 as against the current rate of USD 8.57, three sources with direct knowledge of the matter said. The report, which calls for not tinkering with the existing pricing formula for difficult fields such as KG-D6 of Reliance Industries and bp plc, is under finalisation and may lower the ceiling price for ONGC gas marginally. The floor and ceiling price will be applicable for five years although the initial thought was to keep it for three years, they said adding the ceiling price will have an annual escalation clause. The escalation being suggested is USD 0.

India panel to favour linking local gas prices to crude basket: Report

In September India set up a panel headed by energy expert Kirit Parikh to review the India's gas pricing formula to ensure fair prices to consumers

EU proposes gas price cap: Energy Commissioner Kadri Simson announces

A European gas price cap at 275 euros ($283) per megawatt hour (MWh) has been proposed, Energy Commissioner Kadri Simson announced

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

European Union dims hopes for a price cap to contain soaring gas costs

The European Commission presented its analysis of possible actions to contain gas prices at a meeting with representatives of national governments in Brussels on Monday

GAIL Q2 net profit down 46% on higher prices, Russian gas disruption

In an emergency bid to secure stable LNG supply, GAIL has sought to expedite talks on short- and long-term supply deals with Gulf firm ADNOC

Germany moves ahead with massive energy relief package for households

German officials have agreed on the main details of a plan to provide up to 200 billion euros ($198 billion) in subsidies to households and businesses to ease the strain of high gas, electricity and heating prices. Chancellor Olaf Scholz and the governors of Germany's 16 states agreed Wednesday on a two-stage plan to tackle high gas prices that largely mirrors the recommendations last month of an expert panel. Some other European Union countries think the move by the 27-nation bloc's biggest economy should have been coordinated with them and have expressed concern that it could push up prices elsewhere. Scholz has repeatedly defended the plan, insisting that Germany is showing solidarity with the rest of Europe and its programme is similar in scope to other countries'. Scholz's Cabinet agreed that the state will take on the cost of gas customers' monthly bill in December. That will be followed by a price subsidy for part of what households use starting in March and through April 20

Australian inflation hits 32-year high amid rising gas and housing prices

Australia's annual inflation has climbed to its highest level in 32 years amid soaring prices for housing and gas

Coal to be back again as gas becoming unaffordable: FM Nirmala Sitharaman

Given the global energy crisis, Finance Minister Nirmala Sitharaman has said that coal is going to be back again as gas has become unaffordable. Sitharaman, who attended the annual meetings of the International Monetary Fund and the World Bank, said the western world has seen countries moving to coal. The Western world has seen countries moving to coal. Austria has already said, and todaythey are going back to coal, Sitharaman told a group of reporters from India during an interaction on Saturday. Russia has sharply curtailed natural gas shipments to Europe in retaliation for sanctions that the West put in place after its invasion of Ukraine. In late April, Russia cut off gas supplies to Bulgaria and Poland after they refused Moscow's demand to pay for the deliveries in rubles, Russia's currency. Also, apart from that many countries in the West are moving away from coal to generate electricity as it contributes to climate change and air pollution. Responding to a question on her

Analysts expect fuel prices to go up if global prices rise further

Brent crude oil prices remained near three-week highs of $92.9 per barrel as of late Thursday

TMS Ep273: Protectionism, bullish CEOs, gas prices, demat and trading a/c

Why is India Inc protectionist? Why are global CEOs bullish about India? Will the spike in natural gas prices affect related stocks? What is a demat and a trading account? All answers here

Will the spike in natural gas prices affect related stocks?

Govt's 40% spike in natural gas prices is likely to have a mixed impact across related-sectors. Find out the sectoral impact of rise in gas-price and if it's time for investors to redesign portfolio

ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

Analysts at Antique stock Broking said every $1/mmbtu rise in gas prices is expected to lift ONGC, and Oil India's standalone Ebitda by 4 per cent, and 7 per cent, respectively

Gas price hike: Analysts say CNG prices may rise by at least Rs 8-12 per kg

The government last week raised the prices of gas produced from old fields, called APM gas, to $8.57 per million British thermal unit from $6.1

ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

Gas price review panel, led by Kirit Parikh, seeks more time: Report

The government-appointed panel for reviewing the pricing of natural gas has sought more time to submit its report as it does a tightrope walk of striking a balance between the expectations of producers and consumers, sources said. The panel headed by former planning commission member Kirit S Parikh was tasked to suggest a "fair price to the end-consumer" by the end of September. Given the enormity of the task, the committee wanted 30 more days to finish the report but the government wants it to wrap up the work by mid-October, two sources with knowledge of the matter said. A decision on the exact duration of the extension will be taken next week after oil secretary Pankaj Jain returns from his overseas trip, they said. Natural gas is a fossil energy source that formed deep beneath the earth's surface. It is used to generate electricity, produce fertiliser, convert into CNG to run automobiles and piped to household kitchens for cooking and heating. It is also used in making glass, .