CBM

The company reported 100% offtake of gas through GAIL's Urja Ganga pipeline

The firm had sought bids at a premium over the base of 13.2 per cent of Brent crude oil prices

Brent crude oil is currently trading above US 92.5 per barrel and at this price, the floor rate for Reliance gas comes to USD 13 per mmBtu

Bidding for 15 blocks offered in the first coal-bed methane (CBM) round in more than a decade will start on February 15 and end on March 15, the Directorate General of Hydrocarbons (DGH) said

India's top oil and gas producer ONGC is seeking a minimum price of USD 3.5-4 for the natural gas it plans to produce from coal seams in Jharkhand and a field in Tripura. Oil and Natural Gas Corporation (ONGC) has issued separate tenders seeking buyers of 0.02 million standard cubic meters per day of coal-bed methane (CBM) it plans to produce from the North Karanpura CBM block in Jharkhand and 0.1 mmscmd from Khubal field in Tripura. For the CBM gas, it asked buyers to quote a percentage equal to or higher than 8 per cent of Dated Brent Price, according to the tender document. "Floor price shall be the higher of the USD 4 per million British thermal unit or Domestic Gas Price notified by (government's) PPAC for the period," it said. The PPAC notified price for the six months beginning October 1 for gas from fields given to ONGC and Oil India Ltd on a nomination basis is USD 2.9 per mmBtu. ONGC has been complaining that the government-notified gas price is way below cost and the ..

The Raniganj coal block is India's most prolific coal-bed methane block that has already achieved daily gas production of more than 1 million scmd

The Cabinet Committee on Economic Affairs (CCEA) today allowedcompanies producing coal bed methane (CBM) to sell gas to its own affiliates, bygiving marketing and pricing freedom for CBM.This is likely to be a boost for companies like RelianceIndustries Ltd (RIL), Great Eastern Energy Corporation Ltd (GEECL), Essar Oil and Oil and Natural GasCorporation (ONGC), which are the major players in the segment. As per the decision, while discovering themarket price for arms length sales, the contractor has to ensure a fullytransparent and competitive process for sale of CBM with the objective that thebest possible price is realized for the gas without any restrictive commercialpractices. CBM contractors have also been permitted to sell the CBM toits any affiliate, in the event contractor cannot identify any buyer. Royaltyand other dues to the government, however, shall be payable on the basis ofpetroleum planning and analysis cell (PPAC) notified prices or selling prices,whichever is ...