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    HomeFinanceS&P predicts advantages for gas producers due to new regulations

    S&P predicts advantages for gas producers due to new regulations

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    Gas producers, including Oil and Natural Gas Corp and Oil India Ltd, will benefit from India’s new gas pricing rules, according to S&P Ratings. The new regulations will provide greater protection for gas companies’ earnings. The regulations, which were announced on April 6, 2023, set monthly prices for domestically produced gas. The price will be equal to 10% of the average price of the Indian crude basket in the preceding month. There will be a floor of $4 and a ceiling of $6.5 per million British thermal unit (mmbtu). These new rules won’t affect the pricing for gas produced from difficult fields that companies like Reliance Industries Ltd operate.

    Also read:  Relentless Rain: Waterlogging and Pothole-Ridden Roads Frustrate Residents

    S&P Global Ratings credit analyst Shruti Zatakia said that the new gas pricing system should result in more fluid market price revisions. Previously, prices were reset twice a year and were linked to gas prices in key international trading hubs.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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