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Examples
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NTPC, too, is asking RIL to honor an earlier contract for selling gas at $2.34/mbtu.
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At the heart of the feud is a contract between Mukesh and Anil in which Reliance Industries agreed to sell natural gas to Reliance Natural Resources at $2.34 a million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu.
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The Bombay High Court had on June 15 directed RIL, controlled by billionaire Mukesh Ambani, to sell gas from its offshore D6 block in the Krishna-Godavari basin to RNRL at $2.34 a million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu.
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RIL is embroiled in a separate court case with NTPC over the tender to supply up to 12 MMSCMD of gas at $2.34/mbtu.
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Both RIL and RNRL have approached the Supreme Court against Bombay High Court's judgement, which had on June 15 directed RIL to sell the gas from the block to RNRL at $2.34 per million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu.
Government Owns India's Hydrocarbon Resources -Minister 2009
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RNRL's plea for gas at $2.34/mbtu was based on a tender of NTPC Ltd., in which RIL had agreed to sell gas to the state-run company's power projects at that price.
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The Bombay High Court June 15 directed RIL, controlled by billionaire Mukesh Ambani, to sell gas from its offshore D6 block in the Krishna-Godavari basin off eastern India to RNRL at $2.34 a million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu.
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The High Court June 15 directed RIL, controlled by billionaire Mukesh Ambani, to sell gas from its offshore D6 block in the Krishna-Godavari basin off eastern India to RNRL at $2.34 a million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu.
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The government has said it doesn't approve of the sale of gas to RNRL at $2.34/mbtu, the junior oil minister, Jitin Prasada, told lawmakers in a written reply in the upper house of Parliament Monday.
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In 2007, however, a group of ministers set the price at which RIL could sell gas to RNRL at $4.20/mbtu.
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