India cuts gas prices by 18%
The well-head gas price has dropped to $3.82/m British thermal units (Btu) which could discourage investment in the fields
India has cut the well-head gas price by 18% to $3.82/m British thermal units (Btu), squeezing producers such as Oil & Natural Gas Corporation (ONGC), Oil India and Reliance Industries. The move may end up discouraging investments in new fields, which would eventually lead to higher dependence on costlier imports as lower prices boost demand, warned ratings agency Moody’s. Low prices benefit power producers and fertilizer makers, but may deter exploration companies from investing and increasing output, essential for Prime Minister Narendra Modi’s target of cutting India’s dependence on imported energy to 50% by 2030 from 80% now. India imports 36% of its gas needs. But "imports will cont
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
