The ministry of petroleum and natural gas ordered GAIL India to cut natural gas supplies from non-priority sectors such as steel and petrochemicals.
Indraprastha Gas has gained 2.2% and had hit a high of Rs. 377, while GAIL India is up 2.1% and had hit a high of Rs. 437 on BSE today.
The ministry of petroleum and natural gas on Wednesday ordered GAIL India to cut natural gas supplies from non-priority sectors such as steel and petrochemicals in order to meet the full requirement of CNG retailers such as Indraprastha Gas Ltd.
it has been decided to authorise GAIL to divert domestic gas from the non-priority sector to meet the requirement of the CNG (transport) and PNG (domestic) segment in line with their actual consumption, the Ministry said in an order.
The gas would be supplied at uniform base price to each CGD entity.
GAIL will undertake the allocation exercise at the end of every six months and supply domestically produced gas to CGD entities based on their average consumption. Any increased requirement of the gas would be met by cutting supplies to non-priority sectors.
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