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Saturday, Dec 04, 2021
Outlook.com
business: gas

Will Price Be Discovered Or Invented?

RIL’s brazen demand: allow us to sell local gas at the price set for imported gas

Will Price Be Discovered Or Invented?
Sanjay Rawat
Will Price Be Discovered Or Invented?
outlookindia.com
-0001-11-30T00:00:00+05:53

The Seesaw Saga

  • Going against SC verdict on K-G basin case, RIL seeks say in gas pricing
  • PetroMin declines RIL’s demand for gas price at import parity rates
  • Free pricing not the norm, will impact consumer industries, end products
  • RIL move on CBM gas price also seen as a “ruse” to revise K-G basin gas price
  • Government asks RIL to withdraw its notice, but will seek arbitration soon.

***

The high-octane battle between the Union petroleum ministry and Reliance Industries over the D-6 block in the Krishna-Godavari basin has acquired a fresh dimension. Bolstered by an upcoming formal government approval of its 30 per cent stake sale in 21 exploration blocks to BP for $7.2 billion, RIL is upping the ante by asking the government to free gas pricing (fixed at $4.2 per million btus for the D-6 block, pending a revision due in 2014). What the company is seeking is import parity price.

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