The federal government has taken the decision of increasing the gas prices from the 1st of January, after the Oil and Gas Regulatory Authority gave approval for the surge of up to 245percent increase in gas prices.
OGRA has given approval for 214perent surge in the gas prices for the domestic users, 245percent increase for tandoors and 153percent for the fertilizers in the industry.
The regulatory authority has approved 31percent in the gas tariff for both the commercial users of gas and the CNG sector.
OGRA has approved a surge of Rs.121 to Rs.300 on the consumption of 50 MMBTUs gas, increase in rupees from Rs.300 to Rs.353 on the consumption of up to 100 MMBTUs and of rupees 1,107 to Rs.1,273 on the consumption of more than 400 MMBTUs.
But, OGRA has approved a reduction of Rs.23 and Rs.32 for the consumers making use of 201-300 and 301-400 MMBTUs, respectively.
The authority has suggested to implement the new tariff from the 1st of January. It has extended a summary to the federal government for approval.
As per the latest development, on the other hand, OGDCL has announced that it has started the drilling work for the first shale gas well, KUC-01 in Hyderabad from the December 14.
According to the press release, the company intends to drill the KUC-1 well in 2 phases.
More Read: OGDCL Begins Shale Gas Drilling in Hyderabad