The much-hyped partnership between global oil major British Petroleum (BP) and India's largest private company Reliance Industries (RIL) has not yet gotten the stamp of approval from the Government of India, reports CNBC-TV18 quoting sources.
Fresh after getting approval for investing USD 7.2 billion in Reliance Industries' oil and gas properties, BP Plc on Wednesday pressed for an early government nod to develop satellite fields in the KG D6 block and reverse sagging natural gas output from the prolific acreage.
However, sources tell CNBC-TV18 that the government wants BP to first become a signatory to the production sharing contract (PSC). "RIL cannot yet share data on KG-D6 and other blocks," the source said adding, "
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