The recent price hike of natural gas by the centre may result in an additional revenue of Rs 1500 crore to the state-owned ONGC Limited during the first half of the current fiscal, said global rating and research agency Moodys.
The price paid to most of natural gas produced from domestic fields will be USD 3.06 per million British thermal unit (mmBtu) for six months, beginning April 1, from current USD 2.89, according to a recent notification issued by oil ministrys Petroleum Planning and Analysis Cell.
"Natural gas contributed around 45 per cent of ONCGs total crude oil and natural gas production volume in fiscal 2017."
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