India Revises Domestic Natural Gas Price for December

03 Dec 2024 CW Team

The price of domestic natural gas for December 2024 has been revised to $7.29 per million metric British thermal units (mmBtu), down from $7.53 in November, according to a notification by the Ministry of Petroleum and Natural Gas (MoPNG). Despite the reduction, the domestic gas price remains capped at $6.5 per mmBtu under the country鈥檚 pricing framework.

Pricing Framework Under the revised mechanism, domestic natural gas prices are linked to imported crude oil, constituting 10% of the Indian crude basket. Prices are revised monthly, with a floor and ceiling set at $4 and $6.5 per mmBtu, respectively.

The new rate applies to natural gas produced from legacy fields operated by Oil and Natural Gas Corporation Ltd (ONGC) and Oil India Limited (OIL). The guidelines, introduced in April 2023, aim to balance global market trends with the interests of domestic producers and consumers.

Strategic Impact The updated pricing aligns with India's broader energy policies to stabilize the natural gas sector while encouraging production and fair market pricing. Industry stakeholders, including ONGC, OIL, and GAIL, have been informed of the changes to ensure seamless implementation.

Experts note that the framework demonstrates India鈥檚 commitment to global energy standards, fostering sectoral growth and ensuring energy security.

Resources

17 Jun 2025

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..

Real Estate

17 Jun 2025

Supreme Unveils New Brand Identity to Elevate Lifestyle

Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group鈥檚 refreshed vision to 鈥楨levate Lifestyle鈥�. This brand transformation represents more than a visual refresh鈥攊t marks a strategic shift in the company鈥檚 mission, visual identity and market positioning. The update will be visible across all of Supreme鈥檚 digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..

Infrastructure Urban

17 Jun 2025

Capri Loans Launches #TarrakiKeHaath Campaign Honouring India鈥檚 Everyday Heroes

Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India 鈥� from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans鈥� long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat鈥檚 economy. Conceptualized by Rediffusion Brand Solutions, the..