Related Articles
Forward article link
Share PDF with colleagues

India's bold move to increase domestic gas prices

India's government is set to increase domestic gas prices in a move applauded by analysts and the industry

India will more than double its domestic gas price in a bold move that is expected reinvigorate its energy landscape.The government has approved a new gas pricing formula, which could increase domestic gas prices to $8.40 per million British thermal units (Btu) from April 2014, the minister of petroleum and natural gas, Veerappa Moily, has confirmed.“It’s certainly a boon for existing players, India’s Oil & Natural Gas Corporation (ONGC), Oil India, Reliance Industries and BP, whose projects, particularly in the deeper waters, become economically viable,” Alay Patel, an India specialist at Wood Mackenzie, told Petroleum Economist. Data from the energy research firm shows that the reform

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad