India Hikes Deepwater Gas Price Ceiling To $9.89; Reliance-BP KG-D6 To Benefit

The Indian government has raised the ceiling price for natural gas produced from difficult fields, including the KG-D6 block operated by Reliance Industries and BP. The new ceiling is set at USD 9.89 per million British thermal units (MMBtu) for the six months beginning October 1, an increase from the previous USD 8.90.