OGRA raises wellhead gas prices

KARACHI: Oil and Gas Regulatory Authority (OGRA) has announced wellhead gas prices for all the fields raising the purchase prices in the range of 0.57pc to 9.49pc, effective from July 2012.

According to market sources here Wednesday, the rise in the gas prices will improve profitability and share prices of PPL, OGDC and POL.

Senior analyst KASB Research Hussain Yasar said that highest increase of 9.49 percent was recorded in the wellhead price of Sui gas field, rising from Rs. 195.50 per million British Thermal Unit (mmbtu) to Rs. 214.06 per mmbtu, followed by Kandhkot field with 9.03 percent rise.