Summary
Domestic gas production is expected to remain a loss-making proposition for most Indian upstream producers in financial year 2020-2021 as prices are expected to remain subdued, rating and research firm ICRA said today.
“Gas prices at various international gas hubs have declined, which would lead to lower domestic gas prices in FY2021. Accordingly, the domestic gas production will remain a loss-making proposition for most fields for the upstream producers, notwithstanding some decline in oilfield services/equipment cost,” K Ravichandran, senior vice-president at ICRA said.
Ravichandran said the recent sharp drop in crude oil prices is......