Rating agency ICRA said that the production of natural gas is a loss deal for most of the sectors for Indian upstream producers, as the price of gas set by the government remains at its lowest level.
Domestic gas price for the six months commencing 1 April has been notified at $ 1.79 per million British thermal units, the lowest since the institution of the revised Rangarajan formula.
In addition, the price range for gas from deep water, ultra-deep water, high temperature and high pressure areas has been set at $ 3.62 per million BTUs for April-September 2021-22 which is 10.8% lower than the ceiling in October-October. For March 2020-21.
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