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RIL likely to give presentations on KG basin gas pricing today
NOIDA: Reliance Industries Ltd (RIL) is expected to give a presentation to the oil ministry on KG basin pricing formula on Tuesday, four days after Anil Ambani-led RNRL raised concerns over the pricing mechanism.
"One brother has already given the representations four- day's back and the other brother will give the presentation today," Petroleum Minister Murli Deora said on the sidelines of foundation laying ceremony of Oil Industries Development Board's new building.
The government, which earlier said it expects to finalise the price formula in the next two months, wants the matter to be looked into by a panel of secretaries.
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"We want a panel of secretaries to look into the matter of KG gas," Deora said.
Sources say the government has constituted a panel of five secretaries to finalise the price formula for KG Gas.
The ADA Group's Reliance Natural Resources Ltd made presentations questioning the high floor price of USD 4.64 per mmBtu for gas from KG basin in Andhra Pradesh fixed by Mukesh Ambani's RIL.
PTI Wednesday, June 20, 2007 13:07 IST
Jun 20, 2007
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