Govt cuts natural gas price by 25 pc to $1.79

The government on Wednesday slashed the rate at which most of the natural gas produced in India is sold by a steep 25 percent to USD 1.79

The gas produced by state-owned Oil and Natural Gas Corp (ONGC) and Oil India from areas given to them on nomination basis will cost USD 1.79 per million British thermal units for a six-month period beginning October 1, 2020, an official order said

The price of new gas from difficult fields such as deepsea has also been cut to USD 4.06 per mmBtu from USD 5.61, the order said.