India gas-price move may spur upstream sector

摘要

INDIA is poised to implement long-awaited gas price reforms in an effort to increase investment in upstream production. But the Reliance-BP joint venture developing the potentially prolific and contentious Krishna-Godavari D6 (KG-D6) deep-water block will not benefit just yet. As a result, billions of dollars of investment remains up in the air. As part of a major reform push, Narendra Modi's newly elected government, will increase domestically produced gas prices by 47% to $6.17 per million British thermal units (Btu) from 1 November.