ONGC says gas prices likely to go up

ONGC says gas prices likely to go up
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First Published: Mon, Nov 16 2009. 01 15 AM IST
Updated: Mon, Nov 16 2009. 10 33 AM IST
Mumbai: Oil and Natural Gas Corp., India’s largest state-owned oil explorer, said the government is considering a proposal to increase the administered price of natural gas, without saying where it got the information.
The gas price for ONGC during the financial year ending 31 March would rise to Rs4,142 per million standard cubic meter as per the proposal, the company said in an emailed statement.
The New Delhi-based company said it received a price of Rs2,850 per mscmd for the gas it produced from October 1997 through June 2005.
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First Published: Mon, Nov 16 2009. 01 15 AM IST
More Topics: ONGC | Gas | Prices | Energy | Economy and Politics |