Page 4 - Gas Price

Gas tops $4 per gallon average across US, 1st time since 2008

The price of regular gasoline broke $4 per gallon (3.8 liters) on average across the U.S. on Sunday for the first time since 2008.

Reliance Industries expects bumper profits from global gas crunch

The conglomerate expects India in April to raise the price cap for its offshore gas sales by nearly 60% to around $10 per million British thermal units

Top headlines: India halts some int'l flights till Jan 31; gas prices surge

Scheduled international flights will remain suspended till January 31 next year. More on that story in our top headlines.

EU countries struggle to find joint response to energy price spike

Energy ministers from European Union countries meet to debate their response to high gas and electricity prices

India's gas consumption to jump more than 3 times by 2030: GAIL Director

India's natural gas consumption is projected to rise to as much as 550 million standard cubic meters per day by the end of the decade as the user base expands GAIL India's E S Ranganathan said

Govt sets up committee for stable gas price for power units: Oil Secretary

The government has set up a committee to work out measures need to make natural gas available to power plants at 'reasonably stable prices', Oil Secretary Tarun Kapoor said on Thursday.

Belarus President threatens to shut EU gas flow in border spat

European gas prices reversed earlier losses after the threat

Domestic gas price revised to $2.9 for Oct 2021-March 2022, up 62%

The rate for gas produced from difficult fields such as deepsea will be $6.13 per mmBtu

ONGC agrees to remove marketing margin, but refuses to lower gas price

Potential bidders however opposed the levy of the marketing margin as well as the "high" floor price

Domestic LPG to be cheaper by Rs 10 per cylinder from April 1

After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder -- both for subsidised and market price users -- will cost Rs 809 from April 1 as against Rs 819 currently, Indian Oil Corporation (IOC) said in a statement. The price cut, which traditionally is announced on the day the change is effective -- four times the rates went up in a span of one month -- was announced a day ahead of the second phase of voting in West Bengal. The politically-crucial Nandigram constituency from where state Chief Minister Mamata Banerjee is taking on her once-trusted aide Suvendu Adhikari, who is contesting on BJP ticket, is also going for polls on Thursday. "Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India is largely import-dependent on crude oil and the prices are

Gas price for ONGC remains at decade low of $1.79, falls 11% for RIL-BP

The government on Wednesday left the price of natural gas produced by companies such as ONGC unchanged at a decade-low rate of USD 1.79

Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector

Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields

GAIL, ONGC look to firm up strategies for low oil and gas price regime

India aims to more than double its gas consumption by 2030

ONGC to take Rs 7,000 cr hit over gas price; govt may alter pricing formula

Prices touched historic low of $1.79 per mmBtu for October-period of current financial year, down 25% from $2.39 per mmBtu during April-September period

Govt mulls domestic gas floor price system to protect explorers' margin

Govt proposes to implement new floor price mechanism for gas produced from domestic fields by companies such as ONGC to prevent fuel price from crashing below a threshold in subdued market conditions

ONGC, Oil India's earnings may suffer after sharp cut in gas prices

City gas distributors, fertiliser and other end users to gain; MGL can see up to 14 per cent earnings upside: Analysts.

ONGC June quarter profit dives 92% as oil, gas price slump to decade low

State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported 92 per cent slump in its June quarter net profit after oil prices halved and gas rates fell to a decade low. Standalone net profit of Rs 496 crore in April-June was 91.7 per cent lower than Rs 5,980 crore net profit a year back, the company said in a statement. The surprise profit came after the company delayed payment of cess on crude oil it produces. Initially, the company did not pay even royalty in anticipation of relief from the government to deal with a slump in oil prices. It cleared royalty payments at June-end but cess payments were done only in July. ONGC pays about Rs 400 crore of royalty and cess every quarter to the government. Revenues dipped 51 per cent to Rs 13,011 crore after a nationwide coronavirus lockdown impacted fuel demand. ONGC said it got USD 28.72 for every barrel of crude oil it sold in the quarter, down from USD 66.32 a barrel in the same period a year back. Gas price realisation fell 35

ONGC pre-tax profit down 82% to Rs 2,012 cr in Q1 on low crude, gas prices

Gross revenue for the quarter at Rs 62,496 crore, down 43% from Rs 1,09,546 crore during the first quarter of FY20

Climbing on falling gas price: CGD firms, power producers to benefit

Fertiliser companies likely to gain the most; city gas distributors should benefit, too, but CNG demand holds key; ceramic tiles and power producers may also see solid upside

The importance of high-yield markets

Their role in fuelling the success of the US shale industry offers lessons for India's economy today