However, GAIL was expecting a tariff Rs 5-6 higher than the approved rates, as PNGRB has considered a substantially lower fuel gas price for internal consumption. We were expecting tariff to be Rs 5-6 more than what PNGRB approved, will go back for review: Rakesh Kumar Jain, GAIL The Petroleum and Natural Gas Regulatory Board (PNGRB) has issued higher tariffs for GAIL's nine physically interconnected pipelines at Rs 58.61, up from Rs 46 per MMBtu for similar pipelines, which will result in an increase of around Rs 1,600 crore in revenue.China’s economic recovery faces risks from global trade slump There remains an uncertainty in the global trade amid rise in interest rates by different central banks in a bid to control rising consumer prices.
IndianOil, Adani-Total, Shell lap up Reliance's KG-D6 gas IOC top bidder IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said.Asian markets cautious ahead of China's economic growth data A Reuters poll last week found China's GDP growth was forecast to speed up to 4.0% in the first quarter from a year earlier, versus 2.9% in the previous three months, according to the median forecast of 70 economists.India and China accounted for 48% of total global retail demand in 2022 hence dealers in these countries have reduced premiums by almost $40 an ounce in China to small discounts, and cutting discounts to $57 an ounce under official domestic prices in India. With gold prices just off their records of 2020, caused by safe-haven investors seeking solace amid recession fears and banking crises in the US and Europe, retail buyers are not purchasing jewellery items. Lofty prices tarnish gold's lustre in top Asian retail hubs Retail buyers in China and India, the world's largest and second-largest retail gold consumers, are leaving gold stores without buying anything due to high gold prices.
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