In the futures market, natural gas for May delivery touched an intraday high of Rs 129.40 and an intraday low of Rs 127.60 per mmBtu on MCX.
The value of May and June contracts traded so far is Rs 539.07 crore and Rs 37.03 crore, respectively.
In the futures market, natural gas for May delivery touched an intraday high of Rs 138.50 and an intraday low of Rs 137.10 per mmBtu on the MCX
Prime Minister Narendra Modi's government is starting to pull back from one of the world's tightest lockdowns of 1.3 billion people, which has left millions out of work and stranded in cities far from home while infections keep rising.
Under the grant, the US Trade and Development Agency (USTDA) will fund a feasibility study to evaluate the development of a virtual pipeline that will distribute natural gas via truck, rail or ship to areas unserved by traditional gas pipeline infrastructure.
Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) said the bulk of India's existing gas production will be priced at USD 2.39 per million British thermal unit for the six-month period beginning April 1, down from USD 3.23 as of now.
Officials said the company began production from the first well on the KG-D5 block and is currently producing around 0.25 million standard cubic meters per day (mmscmd).
The bulk of the incremental demand will come from city gas distribution (CGD) operations being rolled out in 400 districts.
The Dollar index gave away gains for the first time after three consecutive daily advances, coming under some selling pressure and closing the week at 99.26.
Crude oil traded in range and was set for their first weekly gains as markets are expecting OPEC+ to implement deeper cuts to offset the slowdown in demand in China.
State-run Qatar Petroleum (QP) declined to comment on the reported delay, which comes as the global gas industry faces the major challenge of a supply glut due to booming U.S. production and a drop in Chinese demand.
A sharp drop in natural gas prices offers government the opportunity to reignite gas-based power units
US gas price has fallen over 18 percent since the start of the year reflecting the weaker sentiment.
When the Goods and Services Tax (GST) was introduced on July 1, 2017, amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
Base metals ended the week in negative territory as prices were pressurized after the new virus outbreak in China could hit economic growth in the world's top metals consumer, China and dent the demand prospects for industrial metals.
The oil-to-gas ratio recently reached 30:1, and could increase further as expect average gas prices will fall for a second consecutive year in 2020 to their lowest level in over 10 years.
In its first in-depth review of India's energy policies, IEA said for the share of environment-friendly fuel to rise, the government needs to ensure gas is treated on a level playing field with other fuels for taxation and is included under the Goods and Services Tax (GST).
When the Goods and Services Tax (GST) was introduced on July 1, 2017 amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
Natural gas currently makes up for 6.2 percent of all energy consumed in the country. To cut dependence on polluting coal and liquid fuels, the government is targeting its share to rise to 15 percent by 2020-30.
The report will make for further uncomfortable reading for delegates gathered at UN climate talks in Madrid, with the warnings from the world's top climate scientists still ringing in their ears.