Page 2 - Natural Gas Price

Govt invites bids for licences to supply natural gas to households

"After this round we will go with the authorisation for the island areas to cover 100% geographical areas," Oil minister Hardeep Singh Puri said

Gas price for Reliance cut by 18% to $10, in line with international prices

The price of natural gas produced from difficult areas like deepsea KG-D6 block of Reliance Industries on Sunday was cut by a steep 18 per cent, in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is largely used for making CNG for fueling automobiles or piping to households 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 deepsea and high-pressure, high-temperature (HPTP) areas has been cut to USD 9.96 per million British thermal unit from USD 12.12, oil ministry's Petroleum Planning and Analysis Cell (PPAC) said in a notification. The government bi-annually fixes prices of the locally-produced natural gas -- which is converted into CNG for use in automobiles, piped to household kitchens for cooking and used to generate electricity and make ...

Govt hikes domestic natural gas prices to $9.20 per mmBTu from Oct 1

The hike in prices is likely to hurt consumers as the gas distribution companies are expected to increase prices of CNG and PNG

Riding on rising demand for CNG vehicles, Tata aims to double its sales

Currently, Tata offers its Tiago, Tigor, and Altroz with a CNG option. With its CNG vehicles, Tata is betting on the mass market that looks for affordable fuel options

European natural gas prices rise as Russian mutiny adds to supply fear

The uncertainty of what could happen in the coming weeks within Russia itself, rather than within Ukraine, is pushing gas higher

Adani Total, Torrent Gas reduce CNG, PNG price after Centre revise prices

Torrent Gas on Saturday said it has cut CNG prices by up to Rs 8.25 per kg and piped cooking gas prices by up to Rs 5 following the government move to reduce input natural gas prices. Torrent Gas has licences to operate city gas networks retailing CNG to automobiles and piped natural gas, called PNG, to household kitchens in 34 districts across the country, including in Chennai and Jaipur. In a statement, the firm said it is effecting "a significant reduction of between Rs 4 per standard cubic meter to Rs 5 per SCM in the price of domestic PNG and between Rs 6 per kg to Rs 8.25 per kg in the retail price of CNG in its areas of operation across the country effective from today evening". This will make CNG up to 47 per cent cheaper when compared to petrol and 31 per cent cheaper when compared to diesel. Similarly, domestic PNG will now be up to 28 per cent cheaper when compared to domestic LPG. On Friday, the government revised the pricing of natural gas and imposed a cap or ceiling

Domestic gas price for April at $7.92, price for consumers capped at $6.5

The government on Thursday amended the domestic pricing model of natural gas in line with the recommendations of the Kirit Parikh committee on gas pricing

Govt imposes gas price caps, accepts key suggestions of Kirit Parikh panel

Centre accepts all major recommendations of Kirit Parikh committee, imposes price caps

Crude Oil rallies as OPEC+ cuts output; Trend reversal unlikely hint charts

On Monday, the MCX Crude Oil futures were seen trading above the 100-DMA for the first time in more than six months. Sustained trade above Rs 6,350 can help the trend turn favourable for Crude Oil.

Cabinet to impose price caps on gas to stave off rising rates to $10.7

The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas -- which is converted into CNG for use in automobiles, piped to household kitchens for cooking and used to generate electricity and make fertilisers. Two different formulas govern rates paid for gas produced from legacy or old fields of national oil companies like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), and that for newer fields lying in difficult to tap areas such as deepsea. The global spurt in energy prices post Russia's invasion of Ukraine have led to rates of locally produced gas climbing to record levels - USD 8.57 per million British thermal unit for gas from legacy or old fields and USD 12.46 per mmBtu for gas from difficult fields. These rates are due to

MCX Crude Oil may soon breakout; Bias negative for Natural Gas below Rs 224

The anticipated trading band for the MCX Crude Oil futures has got narrower to Rs 6,180 - Rs 6,660. Broader trend for Natural Gas remains weak as the commodity trades below 200-WMA.

MCX Crude Oil range narrows; Natural Gas up 39% from lows; what next?

The Bollinger Bands suggest a likely trading range of Rs 6,070 - Rs 6,650 for the MCX Crude Oil futures; whereas, Natural Gas futures need to sustain above Rs 231 for the pullback to continue.

Bias for MCX Crude Oil turns marginally positive, can rally up to Rs 7,600

Meanwhile, the MCX Natural Gas futures need to conquer the key resistances at Rs 224 and Rs 232 for a meaningful pullback rally to emerge.

MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255

The MCX Natural Gas futures need to sustain above Rs 209-level, break and sustained trade above Rs 224 can trigger a rally towards Rs 255.

Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone

Natural Gas futures have tumbled over 74 per cent their record highs. The commodity is now seen trading below major monthly moving averages after two years.

MCX Crude oil may find support at Rs 6,400; Natural Gas could test Rs 227

On the upside, the Rs 6,700-odd level remains a major hurdle for Crude Oil futures; whereas, interim support for Natural Gas is placed at Rs 240.

Crude compulsions in Budget: Oil prices to put pressure on govt finances

Freeing the industry from administrative pricing could be the best way forward

Uptrend in Crude oil capped at Rs 6,760; Pivot for Natural Gas at Rs 285

In case Rs 285 holds, Natural Gas futures can potentially rally to Rs 344.

European gas slumps to 16-month low on back of strong supply outlook

Gas markets have turned calmer after a tumultuous period last year when energy prices surged to records and hammered economies everywhere

Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333

On the downside, MCX Crude Oil January futures could slide to Rs 5,940 or even re-test the recent lows at Rs 5,850-level; Natural Gas seems on course to test Rs 290 level.