Gas Prices

Although lower gas prices could offer some relief on margins

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

CNG and piped cooking gas prices will be cut by 9-11 per cent after the government revised the formula for pricing of natural gas, but there is no clarity on deregulation of the fuel, analysts said. While the Union Cabinet accepted an expert committee report to price bulk of domestically produced natural gas at 10 per cent of month average import price of crude oil with a floor of USD 4 per million British thermal unit and a cap of USD 6.5, tinkering with the panel's suggestions will help the government avoid prices going up right in the middle of general elections next year. "City gas distributors could reduce prices of compressed natural gas (CNG), used by vehicles, and piped natural gas (PNG), used by homes, by 9-11 per cent, with the government accepting the key recommendations of the Kirit Parikh Committee," Crisil Ratings said. "Had the previous pricing regime continued, prices would have likely risen." But the government has not acted on the panel's recommendation to fully ..

Gas pricing needs a long-term perspective

When the suggestion was made, crude was at a huge discount to gas; but now, with the unpredictable course of fossil fuel prices playing spoilsport, govt may be forced to do a rethink

The price brakes are to apply from March 2023, but consumers also receive a one-time payment in January and February

European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days if not this year, then later. The ministers emerged from their fifth emergency meeting empty-handed because they could not come to agreement on a maximum ceiling to pay for gas due to fear that global suppliers will simply bypass Europe when others offer more money. There was lots of progress but no final breakthrough yet, said German minister Robert Habeck. We were so close today, said Czech Industry Minister Jozef Sikela, adding the ministers would meet again next Monday. There will be only one open issue for the discussion on Monday and this is the price level triggering the mechanism which was the core dispute from the start. Sikela said no one asked for the issue to be taken up at Thursday's summit of EU leaders. The 27 nations have stuck together thr

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday

Barring Gujarat Gas, other gas related stocks like Reliance, ONGC, MGL, IGL are poised for the next upside

Although the Indian crude basket fell from an average of $109.5 per barrel in Q1 to an average of $97.87 a barrel in Q2, prices remained high in absolute terms

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

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

A higher than expected production cut by the group will add to the strain on government finances

European Union leaders converged on Prague Castle on a crisp Friday morning to try to bridge significant differences over a natural gas price cap as winter approaches and Russia's war on Ukraine fuels a major energy crisis. The price cap is one of several measures the 27-nation bloc is preparing to contain an energy crisis in Europe that is driving up prices for consumers and business and which could lead to rolling blackouts, shuttered factories and a deep recession over the winter. As the Europeans bolster their support for Ukraine in the form of weapons, money and aid, Russia has reduced or cut off natural gas to 13 member nations, leading to surging gas and electricity prices that could climb higher as demand peaks during the cold months. Standing in the way of an agreement is the simple fact that each member country depends on different energy sources and suppliers, and they're struggling to see eye-to-eye on the best way ahead. A group of 15 member countries has urged the EU'

Billionaire Mukesh Ambani's Reliance Industries has told a government-appointed panel reviewing gas pricing that any 'retrograde' move to artificially cap rates will add to fiscal policy instability, delays investment and dent India's attempt to become Atmanirbhar in fuel production. In a submission to the committee headed by Kirit Parikh, which has been asked by the Oil Ministry to look at setting a 'fair price to consumers', the firm detailed how the economics of its about-to-start field in the KG-D6 block, where billions of dollars have been spent to recover reserves lying several kilometres below the seabed, will be impacted under different prices. The mid-course changes through price caps not just go against pricing and marketing freedom contracts and government policy promises to companies but also add to uncertainty to a fiscal regime which would impact investments, according to sources briefed on the matter and the presentation. The government biannually fixes gas prices bas

Industry insiders expect 10-15% increase in pooled gas prices in fertiliser sector

Ministers from the 27 EU member states approved levies on energy firms' windfall profits to try contain an energy price surge aggravated by Russia's war against Ukraine.

GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices

As the bloc supports Ukraine, Russia has reduced or cut off natural gas to 13 member nations, surging gas and electricity prices that are expected to go higher as demand peaks during the cold months