Gas pricing is one of the contentious issues for the two energy majors operating in India
Reuters
New Delhi: Petroleum Minister, M. Veerappa Moily, said RIL and BP will together make $10 billion investment till 2016-17. By that time, the country's gas production will be doubled, feels the Minister. Talking about his meeting with Bob Dudley, Group Chief Executive, BP, and Mukesh Ambani, Chairman, Reliance Industries, Moily said that almost all their (RIL and BP) concerns have been resolved.
"There is only one matter, which we are taking to CCEA. The proposal is being finalised. There is a contract between the Government and contractor and all will be done according to the contract," the Petroleum Ministry told media persons. Asked what is the "one matter", Moily said it is related to D6 block in KG basin. But he declined to elaborate. Flutter in Delhi's power corridors is created whenever Dudley and Ambani are in town.
BP-RIL, partners in the country’s prolific KG-D6 block, were facing challenges in convincing the Petroleum Ministry on the reasons for falling output from the producing fields in the block and the penalty being imposed. Gas pricing is another contentious issue for the two energy majors operating in India. On Saturday, Dudley will be in Gujarat to attend the third convocation of Pandit Deendayal Petroleum University at Gandhinagar.
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