Companies & Finance

Shaanxi cuts citygate gas prices

China’s northern province of Shaanxi has cut citygate gas prices for residential and industrial users to RMB 1.23 per cubic metre
By Staff reporter 12 June 2018 0 31269

China’s northern province of Shaanxi has cut citygate gas prices for residential and industrial users to RMB 1.23 per cubic metre ($5.38/MMBtu), Shaanxi Provincial Natural Gas Co. said in a filing with the Shenzhen Stock Exchange on Monday.

The cut represents a drop of 17.4% in residential prices from their previous level of RMB 1.49/cm. The company said it expects the adjustment to cause its net profit for 2018 to fall by RMB 169.7 million .