PNGRB raps Petronet LNG; shares tank

Tariffs not under regulator's purview, says company

THE PETROLEUM AND Natural Gas Regulatory Board (PNGRB) has called out Petronet LNG for "profiting at the expense of gas consumers", a move that sent the company's stock plunging 8.5% in intra-day trade on the BSE on Thursday. The shares later closed at ₹327.7, down 5.66%.

In a recent paper, PNGRB said the company has been increasing tariffs at its Dahej terminal on an annual basis without passing on the benefits of capacity expansions and improved utilisation to the consumers.