Oil & Gas Round Up - June 14 to June 18, 2010 - India Infoline.com

Natural gas from the KG Basin would be supplied to ADAG power plants according to the Government-fixed formula as and when they are ready, he added.

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The legal dispute over gas supply with RNRL is over and Reliance Industries is now looking forward to "harmonious" and "constructive" relations with the Anil Dhirubhai Ambani Group (ADAG). This was stated by none other than Mukesh Ambani, the chairman of RIL at the company's 36th AGM in Mumbai. The Supreme Court (SC) verdict in May this year largely upheld RIL's stand in the gas dispute with RNRL, Mukesh Ambani told shareholders. Natural gas from the KG Basin would be supplied to ADAG power plants according to the Government-fixed formula as and when they are ready, he added.

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The legal dispute over gas supply with RNRL is over and Reliance Industries is now looking forward to "harmonious" and "constructive" relations with the Anil Dhirubhai Ambani Group (ADAG). This was stated by none other than Mukesh Ambani, the chairman of RIL at the company's 36th AGM in Mumbai. The Supreme Court (SC) verdict in May this year largely upheld RIL's stand in the gas dispute with RNRL, Mukesh Ambani told shareholders. Natural gas from the KG Basin would be supplied to ADAG power plants according to the Government-fixed formula as and when they are ready, he added. "It has always been our position that we are, and continue to be, governed by the provisions of the Production Sharing Contract in all respects of the Petroleum Operations carried out by us. We have also been fully conscious that the Government of India has more than a significant say in these operations. As and when the power plants of ADAG are ready to receive gas, we would commence supplies to them subject to Government granting allocations to these plants in the same manner as we do to all other plants to whom Government has allocated gas from the KG-D6 gas field," Mukesh Ambani said in a statement.

Full Story: Oil & Gas Round Up - June 14 to June 18, 2010 - India Infoline.com