NewsX: Reliance Industries Ltd gets nod for gas price hike
- 5 years ago
The government on Thursday conditionally allowed Reliance Industries Ltd (RIL) to raise the prices of natural gas from 1 April 2014.
The Union cabinet allowed the hike subject to the condition that the firm will furnish a bank guarantee equal to the incremental revenue it would generate from the increase. The guarantee will be encashed if charges that the firm had been hoarding gas and deliberately suppressing production at D6 oilfield in the Krishna-Godavari (KG) basin, off the Andhra Pradesh coast, are proved.
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The Union cabinet allowed the hike subject to the condition that the firm will furnish a bank guarantee equal to the incremental revenue it would generate from the increase. The guarantee will be encashed if charges that the firm had been hoarding gas and deliberately suppressing production at D6 oilfield in the Krishna-Godavari (KG) basin, off the Andhra Pradesh coast, are proved.
on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive