Reliance Industries (RIL) and British energy giant BP plc have paid $36 million to get their defaulting Canadian partner Niko Resources to exit from the eastern offshore KG-D6 block. Niko has exited from the KG-DWN-98/3 block and its 10 percent stake has been taken over by Reliance and BP. Subsequent to this, Reliance's stake in KG-D6 has gone up to 66.67 percent from the previous 60 percent and that of BP to 33.33 percent from 30 percent.
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.
