• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset

Presented by :

Associate Sponsor :

Home » News » CNBC-TV18 Comments

Jul 16, 2013, 12.11 AM | Source: CNBC-TV18

Welcome new gas price but worries remain: RIL

CNBC-TV18’s Nayantara Rai reports that Reliance Industries has welcomed the CCEA decision on the new gas price formula, but a few apprehensions remain.

Like this story, share it with millions of investors on M3

Welcome new gas price but worries remain: RIL

CNBC-TV18’s Nayantara Rai reports that Reliance Industries has welcomed the CCEA decision on the new gas price formula, but a few apprehensions remain.

Post Your Comments

Share Cancel

Nayantara Rai (more)

Reporter, CNBC-TV18 |

Reacting to the CCEA’s decision regarding a new gas price formula on June 27, Reliance Industries says that it welcomes the move but with apprehensions, reports CNBC-TV18's Nayantara Rai.

Also Read: CCEA clears disinvestment of STC, ITDC

Speaking to CNBC-TV18, senior RIL executives felt that the government had taken the right step by increasing gas prices. "However the government could have focused on a micro-driven regime and the new pricing policy is sufficient when compared to market prices."

RIL believes that a pricing formula with a cap will never allow any company to operate anywhere close to the market-driven regime added that the government was not supposed to fix the price, but only approve of the prices tendered.

Prasad also says that if the pricing formula was viable, the company would invest close to USD 8 billion in the oil and gas sector including an additional USD 4 billion in KG-D6. This is over and above the USD 5 billion which has been announced earlier in the year. The company is also mulling investment of up to USD 3 billion in NEC-25 and about USD 1 billion more in CBM.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Welcome new gas price but worries remain: RIL

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login