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India raises locally produced natural gas prices for Apr-Sept to $3.06/mmbtu

NEW DELHI: India has raised the price of its locally produced gas by nearly 6 percent to $3.06 per million metric British thermal units (mmBtu) for the April-September period, compared with the previous six months, a government website showed on Wednesday.

India has also set the ceiling price for gas to be produced from difficult fields at $6.78 during April to September compared with $6.30 per mmBtu in the previous six months, the website of the Petroleum Planning and Analysis Cell of the oil ministry showed.

The prices will be applicable on gross heat value basis.

Higher gas prices will lead to higher earnings for state-owned Oil and Natural Gas Corp Ltd and Oil India Ltd.