Reliance seeks pricing freedom for natural gas
The Dollar Business Bureau Concerned over regulatory challenges faced by oil and gas business, Reliance Industries has sought freedom over fixing of gas prices and an official statement in this regard was made by Mukesh Ambani, CMD, Reliance Industries Ltd. “Contractual commitment of marketing and pricing freedom for natural gas, along with risk-reward balance must be met,” said Mukesh Ambani on Saturday. Addressing company shareholders, Mukesh Ambani raised concerns over oil & gas exploration and production (E&P) business saying, “The E&P business created huge economic value to the government, but, generated lower shareholder returns which are even lower than the cost of capital.” While E&P business helped the nation save $34 billion in foreign exchange by bringing to production in the KG-D6 fields ...
