Reliance Industries cuts base price for new gas from KG-D6 after customer protests

Sources said Reliance initially set a floor or minimum quote of 9 per cent of dated Brent price -- which meant that bidders had to quote 9 or a higher percentage for seeking gas supplies. At USD 60 per barrel price, the gas price came to USD 5.4 per million British thermal unit (mmBtu). But consumers saw this as a very high price.

from Energy-Industry-Economic Times https://ift.tt/36Q5zsx