Anil Ambani meets Petroleum Secy

Anil Ambani meets Petroleum Secy

Thursday, August 3rd 2006

Reliance-ADA Group chairman Anil Ambani today met Petroleum Secretary M S Srinivasan in the backdrop of the government rejecting Reliance Industries’ proposal to sell natural gas to his group firm RNRL at a price agreed mutually, instead of the bidding route.

Besides raising the contentious issue of sourcing gas from RIL’s K-G basin field, Ambani is also believed to have sought the Ministry’s intervention in allotment of Coal Bed Methane blocks, industry sources said.

Anil Ambani group firms Reliance Natural Resources Ltd and Reliance Energy Ltd, along with their consortium partner Geopetro of France, were being allotted four CBM blocks but contends that it is a clear winner in two more blocks.

The consortium had bid for all ten CBM blocks, bidding for which closed on June 30.

The meeting comes nearly a week after Petroleum Ministry rejected the price of 2.34 dollars per million British thermal unit proposed by RIL for sale of natural gas to RNRL, on grounds that it would lead to significant losses to government exchequer. © 2001-2006

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