Government to raise natural gas prices by next month
27 Sep 2007
Mumbai: The government will raise controlled prices for gas produced from assets awarded to state-run firms in a month, before launching a new licensing round, oil secretary MS Srinivasan said.
"Within
a month, we will raise the administered prices of gas," he told reporters.
Srinivasan
said the price would be increased from the current Rs3.2 per cubic metre to Rs3.6
a cubic metre for gas produced by Oil and Natural Gas Corp and Rs4 a cubic metre
for that of Oil India.
ONGC
produces around 47 million standard cubic metres a day (mmscmd) while Oil India
produces 8 mmscmd of gas from nominated fields.