ICRA’s Post

The Indian Oil Ministry Readjusted the Prices for Natural Gas for June’24 The #Oil Ministry of India has announced a revision in the domestic #natural #gas prices, setting it at USD 8.44 per million metric British thermal units (mmBtu) for June 2024, down from USD 8.90 mmBtu in May. Read More - https://lnkd.in/gb7GzN7P #procurement #procurementresource #naturalgas #naturalgasprice #naturalgasproduction

The Indian Gas Exchange has reported an 80% drop in gas trading volume in March, according to a recent article on Natural Gas World. This decline could have significant implications for the energy industry, highlighting the impact of current market conditions. It's essential for stakeholders to closely monitor these developments and adapt their strategies accordingly. #GasExchange #EnergyMarket.

An interesting working paper published by the ECB on Monday: The pass-through to inflation of gas price shocks "Considering that the surge in gas prices between the beginning of 2022 and the peak reached in August 2022 was close to 200%, this would translate into an increase of inflation of roughly 2 percentage points...We show that gas price shocks have gained importance over time relative to oil price shocks but the pass-through of gas price shocks still remains about one third smaller than of oil prices shocks." #oil #gas #lng #naturalgas #gastrading #commodities #arislng

Ministry of Petroleum and Natural Gas Govt of India (MoPNG) has notified the price of domestic natural gas for the period May 1, 2024 to May 31, 2024 as USD 8.9 per million metric British thermal unit (mmBtu) on gross calorific value (GCV) basis. Click here to read more - https://lnkd.in/gfe2rGkc #MoPNG #NaturalGasPrice #ONGC #OilIndiaLimited #GasPriceNotification #EnergyPolicy #DomesticGasPrice #AdministrativePriceMechanism #EnergySector #PriceCeiling

Your key to understanding what’s behind commodity price shifts. Get insights into trends, price movements, and supply-demand dynamics: https://lnkd.in/gW65SNFT #marketupdate #crude #natgas #lng #lngindustry #eft #ongt #oott #energymarkets #oilandgas #midstream #energymarketing #energyindustry #commodities #commoditymarkets #riskmanagement #oilandgasindustry #hedging #volatility #oil #gas #opec

The Bangladesh Energy Regulatory Commission (BERC) today raised the price of liquefied petroleum gas (LPG) by Tk 0.66, setting the new rate at Tk 123.52 per kg, up from the previous Tk 122.86. This price change will be effective from 6:00pm today, indicating a slight increase in household and commercial expenses. BERC at a press briefing today said that the price for a standard 12kg LPG cylinder will now be Tk 1,482, up from the previous Tk 1,474. This adjustment follows a rational scale across various LPG cylinder sizes, ranging from 5.5kg to 45kg, addressing the need for a proportional price revision across different consumer segments. Source : The Daily Star

The Indian government will increase the price paid for domestic gas extracted via the redevelopment of older areas or from new wells, officials at ONGC, India's largest producer of oil and gas, told Energy Intelligence. The decision is expected to help boost ONGC's domestic gas production as well as that of fellow explorer Oil India — and perhaps, in turn, limit the ongoing rebound in LNG imports for the world's fourth-largest LNG importer. Learn more >> https://bit.ly/3AEue6A #India #gas #naturalgas #natgas #lng #upstream #oilandgas

Brent Crude Oil Future for June 2024 is USD 85.41/bbl JKM (Platts) Future for June 2024 is 9.32/mmbtu Est. LT LNG Price to Japan (@ 12% slope) is ~ USD 11.7/mmbtu Calculated Estimate of Cost-Pass-Through Price (@ economical rate of return) to Japan is actually only ~ USD 6/mmbtu. So, the question are why the end consumers would have to pay such high trading margin and whether LNG can be still competitive if the renewable energy is getting cheaper with improving battery technology in the next 10 years? It is interesting to think 😊

💼 #ModiCabinet 3.0 | Speaking to #BTTV, Union Minister for Petroleum & Natural Gas @HardeepSPuri stated that plans to privatise state-owned #BPCL have been shelved for now, adding that high revenue-earning public sector undertakings need not be sold. ➡️ "BPCL has made more money in the first 3 quarters than the stake sale amount," Puri said while assuming charge of the Petroleum and Natural Gas ministry. Read more 👉 https://lnkd.in/gzhV4DeC

The Chairman of GAIL stressed the need for policy reforms to increase natural gas usage in India to 15% by 2030. He suggested enforcing gas use in refineries and steel manufacturing, incorporating emissions into electricity dispatch criteria, and bringing gas under the GST. He highlighted a well-supplied global gas market with stable LNG prices but called for OPEC+ to revise production cuts. He noted minor domestic gas demand growth and recommended tax reliefs and incentives for CNG and LNG vehicles to boost demand. He envisioned GAIL as a global gas player, focusing on pipeline expansion and petrochemical facilities in India. #Gail #naturalgas #indiacountry #GST #LNG #OPEC #CNG #petrochemical #interlinkcapital