India Seen Raising Natural Gas Price to Highest in Two Years
- Government to increase price to $3.2/mmBtu from April: survey
- Increase will boost earnings of ONGC, Oil India: analyst
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India is poised to lift its domestic natural gas price to the highest in at least two years, boosting earnings of producers like Oil and Natural Gas Corp., according to a survey of analysts and industry participants.
The federal government will increase the price to $3.2 per million British thermal units for April to September, almost 11 percent more than the current price of $2.89, according to an average of 10 estimates, compiled by Bloomberg. India sets the rate every six months and an announcement on the price is due next week.