The government has raised the ceiling price for natural gas produced from difficult fields such as the KG-D6 block of Reliance Industries and BP to USD 9.89 per million British thermal units (MMBtu) for the six months beginning October 1, from USD 8.90 previously, while keeping the ceiling for gas produced from the legacy fields of state-run ONGC and Oil India Ltd at USD 7 per MMBtu. The new ceiling for gas from deepwater, ultra-deepwater and high-pressure, high-temperature discoveries is applicable for the period October 1, 2026 to March 31, 2027, according to a notification by the Petroleum Planning and Analysis Cell of the oil ministry. Gas produced from such difficult areas enjoys marketing and pricing freedom under the government's policy, but is subject to a government-notified ceiling. The higher ceiling could provide some relief to producers developing India's more technically challenging offshore gas resources, where production costs are generally higher than those from ...
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