Government fixes May domestic gas price at $8.90/mmbtu

03 May 2024 CW Team

The announcement made by the Petroleum Planning & Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas (MoPNG) states that the domestic natural gas price for May 2024 will be $8.90 per million British thermal units (mmbtu) on a Gross Calorific Value (GCV) basis.

According to the PPAC?s notification, a ceiling price of $6.50/mmbtu on a GCV basis will apply to gas produced by Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) from their nomination fields for the same period.

It is mentioned in the notification that the pricing decision forms part of India's ongoing effort to effectively manage its natural gas sector and strike a balance between the needs of producers and consumers. The new price adheres to the guidelines outlined in the MoPNG's notification in April 2023, which established the framework for monthly price updates.

Key stakeholders, including the Directorate General of Hydrocarbons, ONGC, OIL, and GAIL, have been informed of the new pricing structure, ensuring a coordinated approach in managing India's natural gas sector.

The new pricing structure reflects India's endeavours to harmonise its energy policies with global standards while supporting domestic production and ensuring equitable pricing for all stakeholders. The government's monitoring of global energy markets, along with its policy framework, aims to stabilise pricing and sustain growth in the country's natural gas sector.

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..