MoneyWorks4Me

RIL cuts base price for new gas from KG-D6 after customer protests

11 Nov 2019 Evaluate

Reliance Industries (RIL) has cut by about 7 percent the minimum price it is seeking for the natural gas it plans to produce from newer fields in the Bay of Bengal KG-D6 block after key customers such as fertilizer plants protested over the high base price. Reliance and its partner BP Plc of the UK is in the market seeking bids from potential users for the 5 million standard cubic meters per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from mid-2020.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Peers
Company Name CMP
Reliance Industries 1177.30
Indian Oil Corpn. 126.05
Bharat PetroleumCorp 286.70
HPCL 328.20
MRPL 174.70
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