Why oil and gas firms are unhappy over price hike

Considering that the Government has just doubled the price at which natural gas will be sold, to a benchmark price of $8.4 per unit, and given that the hike was well flagged and therefore not ‘below expectations’, one would imagine that companies producing natural gas would be thrilled to bits. Well, they are not. Ian MacKenzie, CEO of Hardy Oil, says, “The gas price hike helps as it improves the bottom-line, but I’m not sure whether it is enough.”

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