The Ministry of Oil revealed that the price of domestic natural gas has been reduced to USD 8.44 per million metric British thermal units (mmBtu) for June 2024, down from USD 8.90 in the previous month.
Despite this reduction, the price of domestic natural gas will remain capped at USD 6.5 per mmBtu according to the current pricing formula.The adjustment follows the new gas pricing mechanism implemented by the government, which sets a floor price of USD 4 per mmBtu and…
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