Gas Pricing
Realignment of gas pricing to provide relief to transportation sector: Siam
Realignment of the gas pricing mechanism by insulating the consumers from the spikes in global prices will soften prices and will provide much needed relief to the transportation sector, SIAM President Vinod Aggarwal said on Friday. In a statement, he noted that the measure will also help in re-igniting interest in CNG vehicles in India and would go a long way in promoting a clean alternative fuel in various parts of the country. "Incentivising greater production of natural gas will result in reduction in import dependence of conventional fuels, thereby enabling expansion of CNG infrastructure across the country and facilitating wider availability of CNG for vehicles," Aggarwal stated. The Union Cabinet on April 6, approved a revision in the formula for pricing of natural gas and imposed a cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of impor
 "Realignment of gas pricing to provide relief to transportation sector: Siam")
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
 "Domestic gas price for April at $7.92, price for consumers capped at $6.5")
The Parikh committee's logic for proposed gas policy
In a competitive market, it is the consumer price that should be equalled to the cost of imported gas
Gas pricing up in the air: 2023 to see new trading products from exchanges
New trading products could be the start of India's attempt to create a domestic price benchmark and derivatives contract market, and the tapering of the administered price regime
 "Gas pricing up in the air: 2023 to see new trading products from exchanges")
IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations
The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday
 "IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations")
Kirit Parikh panel suggests gas price of $4-6.5/unit for old fields: Report
In its submissions to the Oil Ministry on Wednesday, Kirit Parikh Panel has also asked the government to remove caps on gas prices in three years
 "Kirit Parikh panel suggests gas price of $4-6.5/unit for old fields: Report")
ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%
The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period
 "ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%")
Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar
As global prices soar, another committee to review gas pricing policies may find the going more challenging
 "Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar")
Kirit Parikh panel to review local gas pricing formula to tame inflation
India links local gas prices to a formula tied to global benchmarks, including Henry Hub, Alberta gas, NBP and Russian gas with a lag of one quarter
 "Kirit Parikh panel to review local gas pricing formula to tame inflation")
Rajesh K Mediratta on transparency of Indian Gas Exchange and more
Indian Gas Exchange (IGX) was set up two years ago to free up pricing of domestic natural gas. In an interview with Business Standard's S Dinkar, MD & CEO Rajesh K Mediratta shares its journey so far
 "Rajesh K Mediratta on transparency of Indian Gas Exchange and more")
Occidental Petroleum loss narrows as chemicals, oil exports gain
The company benefited from a rebound in oil prices, up about 23% during the first quarter, as fuel demand recovered after being decimated last year by lockdowns
 "Occidental Petroleum loss narrows as chemicals, oil exports gain")
Clean targets: Industry wants gas pricing freedom to become universal
Industry wants the move allowing free pricing for new fields to become universal to meet clean energy targets
 "Clean targets: Industry wants gas pricing freedom to become universal")
IEA slams India's gas pricing, says it reduced incentives to raise supply
In its first in-depth review of India's energy policies, IEA said for the share of environment-friendly fuel to rise, the government needs to ensure gas is treated on a level playing field
 "IEA slams India's gas pricing, says it reduced incentives to raise supply")
Gas pricing: AAP govt not entitled to lodge FIR, RIL tells High Court
Earlier, RIL had told the HC that the AAP government's decision to probe the Centre's policy on gas pricing was 'peculiar' and 'absurd'
 "Gas pricing: AAP govt not entitled to lodge FIR, RIL tells High Court")
How Modi government's bait disallowing higher gas prices is working
Move to disallow higher price to firms in litigation with Centre may make Reliance consider dropping arbitration case
 "How Modi government's bait disallowing higher gas prices is working")
RIL to get benefit of free gas pricing only if it withdraws arbitration: Official
The company had in May 2014 taken the govt to arbitration seeking implementation of a higher gas price
 "RIL to get benefit of free gas pricing only if it withdraws arbitration: Official")
Cabinet to take call on gas pricing for 'difficult' oilfields
New price could go up to $6 per mmBtu for ONGC, RIL discoveries
 "Cabinet to take call on gas pricing for 'difficult' oilfields")
