With effect from December 1, the Indian govt. has approved of 10% hike in price of natural gas sold by ONGC and Oil India Limited to consumers in non-priority sectors like steel and petrochemicals, reported PTI.
This means $5.25 hike per MMBTU for 7-8 million standard cubic meters per day of gas intended for non-power, non-fertiliser sectors. The rates exclude cess, marketing margin/service charge, taxes and transportation charge.
Currently APM (Administered Pricing Mechanism) governs ONGC and OIL produce from the fields assigned to them on a nomination basis.
This means $5.25 hike per MMBTU for 7-8 million standard cubic meters per day of gas intended for non-power, non-fertiliser sectors. The rates exclude cess, marketing margin/service charge, taxes and transportation charge.
Currently APM (Administered Pricing Mechanism) governs ONGC and OIL produce from the fields assigned to them on a nomination basis.
