Gas price hike supports upstream profitability: Fitch
The "increase in natural gas prices by the Indian government, along with a recent revision in our Brent crude oil price assumptions to USD 100 per barrel in 2022, from USD 70 earlier, and USD 80 in 2023, from USD 60 previously, will boost the profitability of rated Indian upstream companies and support their investment spending and shareholder distributions," Fitch said.