Oil and Gas Companies Gain On Monday

Oil and Gas companies were trading in a positive territory during the Monday’s trading session after LNG pricing formula renegotiation from Australia’s Gorgon project.

India has renegotiated the pricing of a 20-year contract to import liquefied natural gas (LNG) from Australia’s Gorgon project, nearly two years after it struck a deal with Qatar to cut long-term prices following sharp drop in spot prices.
S&P BSE oil and gas index was trading up by 1.27% at 15289 levels on BSE at 0947 hours.
Gail (India) was the top gainer in the index, trading up by 4.10% at Rs 395 per share. The stock was contributing majorly to the index gaining. The stock witnessed a spurt in volume by more than 1.07 times on Monday.
The stock of Petronet LNG was trading higher by nearly 4% intraday at Rs 232.85 per share. Among others, Oil India was trading up by 1.45% at Rs 318 per share, Hindustan Petroleum Corporation was trading higher by 1.41% at 317 per share, IGL was trading up by 1.22% at Rs 1391 per share and BPCL was trading up by 1.118% at Rs 519 per share.  Reliance Industries and IOC were trading up by nearly 1%. For More Information About Commodity Trading Please Visit : www.paceresearchindia.com and Call : 8817774774