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 $ 1.79.
Gas produced by state-owned Oil and Natural Gas Corp (ONGC) and Oil India from areas given to them on nomination basis will cost $1.79 per million British thermal unit 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 $4.06 per mmBtu from $5.61, the order said.
