Page 4 - Gas Price

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

ONGC, Oil India stocks rise: Post rally investors need to exercise caution

With the muted outlook for crude oil realisations and volumes, FY21 earnings may take a hit

Rethinking gas

India must rebalance its energy expectations away from coal

India's gas demand at inflexion point, to rise by 66% in 5 years: Report

Gas demand is expected to rise from 148 million standard cubic meters per day in 2018-19 to 250 mmscmd by FY25, Elara Securities said in a report

12.5% cut in natural gas price is credit negative for ONGC: Moody's

The decline in natural gas revenue and earnings will have a limited effect on ONGC's metrics for fiscal 2020

Govt cuts gas price by over 12%, first such rate reduction since April 2017

The government cut the price of gas produced from difficult fields to $8.43 from $9.32, the PPAC notification said

Rahul Gandhi hits out at Modi over gas price hike, says vacate 'sinhasan'

The prices of the LPG cylinder's went up by Rs 4.50, while the non-subsidised rates was hiked by a steeper Rs 93 per cylinder

ONGC and Oil India chafe at decrease in gas price

Per dollar decrease in gas price will have an impact of Rs 4,200 crore on its gross revenue, according to ONGC

Gas price cut to benefit utilities

But profits of gas producers such as ONGC and Oil India will be hit

Gas price cut to dent ONGC earnings, shower savings for consumers

Bad news for ONGC and Oil India but good news for power and fertilizer companies and city gas consumers

Government cuts local gas prices for April-September by 20%

Prices to be cut to $3.60 per million British thermal units (mmBtu) in the first half of next fiscal

For imported RLNG, power plants forego subsidy

Govt to save an estimated Rs 18 crore

Cabinet nearly doubles undeveloped gas finds price

With the current rates, the price of gas will come to $7 per million British thermal unit

Govt to hike gas price for ONGC, RIL by 60% for undeveloped gas discoveries

Gas price in India is currently $3.82 per million British thermal unit, a rate which is not enough to incentivise exploration