Wednesday 21 August 2013

Petroleum Ministry examining RIL gas supply issue

RIL failed to deliver in past three years at old rate of $ 4.2.

Media report said that Petroleum Ministry is “examining” suggestions that Reliance Industries gas supply issue.
RIL failed to deliver in past three years at old rate of $ 4.2.
Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi told Lok Sabha that the issues mentioned in the July 4 office memorandum of finance ministry “are under examination.”

She reported that the finance ministry asked her ministry to examine if “there must be ceiling under the formula.
Earlier Cabinet approved pricing of domestic gas at an average of cost of imported LNG into India and international hub rates.
Last fiscal, the gas production of 27 mmscmd was short of target of 86.73 mmscmd

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