India says producers can sell coal bed methane at market rate | Reuters

NEW DELHI India has permitted coal bed methane (CBM) producers to sell gas at the market rate, a government statement said on Wednesday, a move that could help companies such as Oil and Natural Gas Corp and Reliance Industries. The producers can also now sell CBM gas to their affiliates if they are unable to find any other buyer, the government statement said

Reuters March 15, 2017 21:59:51 IST
India says producers can sell coal bed methane at market rate
| Reuters

India says producers can sell coal bed methane at market rate
 Reuters

NEW DELHI India has permitted coal bed methane (CBM) producers to sell gas at the market rate, a government statement said on Wednesday, a move that could help companies such as Oil and Natural Gas Corp and Reliance Industries.

The producers can also now sell CBM gas to their affiliates if they are unable to find any other buyer, the government statement said.

The government will announced a price for CBM gas, which will be used as a floor for calculating its royalty and other charges.

But CBM producers will pay royalties and other dues to the government on the basis of sale or market prices, if it is higher than the official rate, the statement added. (Reporting by Nidhi Verma; Editing by Mark Potter)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Guinea president 'captured', govt dissolved, claim army putschists'; attack on presidential palace repulsed, say authorities
World

Guinea president 'captured', govt dissolved, claim army putschists'; attack on presidential palace repulsed, say authorities

Reports suggest that they captured President Alpha Conde and dissolved the government, bust the ground situation remains unclear

Cryptocurrency prices tumble and exchange trading falters as snags crop up
News & Analysis

Cryptocurrency prices tumble and exchange trading falters as snags crop up

NEW YORK (Reuters) -The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender. Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. But the major focus was on El Salvador, where the government had to temporarily unplug a digital wallet to cope with demand.

Ford poaches Apple's car project chief Doug Field
News & Analysis

Ford poaches Apple's car project chief Doug Field

By Joseph White and Sanjana Shivdas (Reuters) -The head of Apple Inc's car project, Doug Field, is going to work for Ford Motor Co to lead the automaker's advanced technology and embedded systems efforts, a hiring coup for Ford Chief Executive Jim Farley.