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.
Reliance Industries and partner BP Plc have warned of their KG-D6 gas field shutting down in 2015-16 if the government does not approve investments needed to keep the nation's largest gas fields alive.
The Petroleum Ministry has rejected Reliance Industries (RIL) contention that charging of marketing margin on gas was an issue between the buyer and the seller and has said that the Petroleum and Natural Gas Regulatory Board (PNGRB) will take a final call on the issue.
Reliance Industries has pressed on the oil secretary to intervene and resolve all pending issues standing in the way of RIL's petroleum operations adding the government should consider itself an equal partner and not an adversary.