Oil firms seek gas price hike

New Delhi: Energy giants led by Reliance Industries, ONGC, BP and Cairn India on Monday unanimously demanded an immediate hike in natural gas prices, saying current sub-market price of $.2 was impeding development of over a dozen discoveries.

As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries (CoS) separately with their pleas on the issue.

The panel, whose meeting was chaired by power secretary P.K. Sinha, gave a patient hearing to both sets and asked them to present their views in writing by August 28. Expenditure secretary Ratan P. Watal, however, skipped the meeting of the CoS.