Petroleum Division refutes media claims of 25% gas price hike approval

February 07, 2024 (MLN): The Petroleum Division has refuted media reports claiming that the Council of Common Interests (CCI) approved a 25% hike in the sale price of gas, citing them as incorrect and contrary to facts, according to a press release issued yesterday.

The division has clarified the matter for the knowledge of the general public that there was no decision on gas prices in CCI.

Clarification is also made to the paragraph stating “CCI has approved an increase in the sale price of natural gas to third parties on a commercial basis from 10 percent to 35 percent”.

The CCI considered the proposal of the Ministry for a 50% share of gas sales to third parties.

However, CCI decided to increase third-party sales of gas from existing 10% to 35% on a competitive basis.

This share increase has been wrongly associated with the price increase and is, therefore, corrected for information of all.

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