CNG-PNG: Price limit may be fixed for natural gas, prices of CNG and PNG will soften

Posted on 28th Nov 2022 03:53 pm by rohit kumar

CNG and PNG prices may come down. A price cap may be fixed for natural gas coming out of old fields of public sector companies. The Gas Price Review Committee, headed by Kirit Parekh, can recommend this. However, the pricing formula for gas coming out of difficult fields will not be changed.

 

 

 

Officials pointed out that the Kirit Parekh committee was tasked with making suggestions to ensure a market-oriented, transparent and reliable pricing regime to promote a gas-based economy in India. Officials said the committee may suggest two different pricing mechanisms for this. Oil and Natural Gas Corporation (ONGC) and Oil India Ltd. (OIL) may recommend fixing a price cap for gas coming out of the old field. Cost recovery in these areas has been going on for a long time. This will ensure that prices do not fall below the cost of production, as happened last year. Or even rise to record highs like current rates.

 

 

The report will be submitted to the government soon

This pricing arrangement applies to the KG-D6 field of Reliance Industries Ltd and its UK partner BP Plc's difficult fields. The rates for difficult areas are $12.46 per mmBtu (per unit) from October 1. The committee, headed by former Planning Commission member Kirit S Parekh, is finalizing its report. Officials said it would be handed over to the government in the next few days.

 

Also Read: Apple Unrest: 20000 newly hired workers stop work in Apple's largest plant, and production affected

Other news

Delhi AQI: Respiratory crisis continues in Delhi, AQI reached 399, know for how long will we get relief from air pollution

There is a breathing crisis in the country's capital Delhi and NCR. According to the Central Poll

Sudha Murty: Sudha Murty took blessings from Javed Akhtar by touching his feet, people are praising her on social media.

Famous writer and social worker Sudha Murthy recently won everyone's hearts with her modesty and

IND vs AFG: What is the fault of KL Rahul? Despite being in excellent form, he did not get a place on the team; Fans' anger erupted on social media

Team India has been announced for the three-match T-20 series against Afghanistan. Rohit Sharma a

Pakistan: UN also accepted the increasing cases of forced conversion and marriage in Pakistan, appealed for action

The United Nations on Monday expressed concern over the increase in the number of abductions, for

Corona wave may come again in 40 days: It took 7 months for the first wave to come; Looking at the situation in China, will it be more dangerous this time?

Bloomberg has quoted China's National Health Commission as saying that on December 20, 2022, 37 m

Tahawwur Rana Extradited: What will happen to Tahawwur Rana in India, where will he be kept; What are the government's preparations, know.

Tahawwur Rana, who plotted the 2008 terror attacks on India's financial capital Mumbai, can reach

Who is Shikhar Dhawan's foreign bride? When and where will their wedding functions take place? know all details:

Shikhar Dhawan, who has captivated everyone with his presence in cricket, Bollywood, and the host

Rajvir Jawanda Death: Rajvir Jawanda lost the battle of life after 12 days. Punjabi singer died at the age of 35.

On September 27th, renowned Punjabi singer Rajvir Jawanda was involved in a horrific car accident

Scott Boland : Karthik praised Scott Boland for dismissing Shubman Gill, and gave India a comeback mantra

The World Test Championship Final (WTC 2023) is being played between India and Australia. Austral

Yograj Singh Statements Against MS Dhoni: A Deep Dive into the Controversy
Introduction