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Reliance Industries seeking $12.75 per million thermal unit for CBM gas

14 Feb 2023 Evaluate

Reliance Industries is seeking a minimum $12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of Madhya Pradesh. Reliance has sought bids for sale of 0.65 million standard cubic meters per day from CBM block SP (West)-CBM-2001/1 for one year beginning April 1, 2023.

In March last year, Reliance sold CBM gas from the Madhya Pradesh block at a big premium to firms, including GAIL, GSPC and Shell. Reliance had sold 0.65 mmscmd of gas from block SP-(West)-CBM-2001/1 at a $8.28 premium over prevailing Brent crude oil prices. The firm had sought bids at a premium over the base of 13.2 per cent of Brent crude oil prices.

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.

Reliance Industries Share Price

1343.10 -19.80 (-1.45%)
23-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1343.10
Indian Oil Corp. 145.50
BPCL 309.80
HPCL 376.90
MRPL 186.90
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