Hello and welcome to the Current Affair's Portal of ExamPundit.in. The Petroleum Planning and Analysis Cell of the Union Ministry of Petroleum and Natural Gas on 31 September 2015 announced that the price of domestic natural gas was slashed by 18 percent to 3.81 US dollars per mmBtu.
It was reduced from 4.66 US dollars per mmBtu on gross calorific value (GCV) basis that had been in force since 1 April 2015.
The new price that came into effect on 1 October 2015 will be operational for six months till 31 March 2016.
The reduction in price is likely to benefit power and fertilizer firms but it may also hurt producers like Reliance Industries and Oil and Natural Gas Corportaion Limited (ONGC).
Team Exam Pundit