The Communist Party of India Marxists said that Reliance gas pricing was 'artificially inflated.'
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
The government had this month more than doubled RGPPL's allocation from KG-D6 to 5.67 million standard cubic meters per day that will help generate about 1,000 MW of electricity.
Reliance Industries' gas field off the Orissa coast holds 2.3 trillion cubic feet of gas reserves, more than double the previous estimates.
Reliance has seen natural gas output fall to 50-52 mmscmd during recent times from over 60 mmscmd achieved in mid-2010 due to reservoir complexities.
State-run NTPC, Essar Power and Torrent are among the firms identified by the Union power ministry for buying natural gas from Reliance Industries' eastern offshore D6 block.
Following the heated exchanges, the bench rose early for the day, to resume the hearing on Tuesday. The schedule of hearing was changed and according to the current estimate, it will end by mid-December, just before the year-end holidays.
In the past as well, questions have come up about the manner in which different benches of the apex court were constituted to resolve disputes involving the Reliance group.
Of the 17.99 mmcmd gas allocated to the power sector, gas supply pacts of only 2.67 mmcmd allocated to NTPC remained to be signed. NTPC's opposition has also delayed the GSPA for a separate 2.7 mmcmd allocated to the Dabhol power plant and the same is now slated to be signed next week.
The division bench of Justices J N Patel and K K Tated would continue to hear the case, though Justice Tated was transferred to Aurangabad bench of the High Court last week, high court sources said. The case is likely to come up for hearing on January 12, RIL lawyers said.
Gas production from Krishna Godavari basin block has dropped to just over 12 mmscmd and RIL is carrying out workover on main Dhirubhai-1 and 3 gas fields.
Reliance Industries has put the cost of producing natural gas from its prolific Krishna Godavari basin fields at $2.9 per million British thermal unit and the firm will earn a pre-tax return of 13 per cent.
But earnings of main private holding firm get a booster dose from RIL dividend
Eight companies including Reliance Gas Ltd, GAIL Gas and the joint venture of Indian Oil and Adani Energy have bid for the rights to retail CNG in seven cities.
Reliance Gas, which had successfully bid for three cities -- Rajahmundry in Andhra Pradesh, Shahdol in Madhya Pradesh and Yanam in Pondicherry -- during the second round of bidding for CGD in 2009.
The FIR by the ACB was registered a day after Chief Minister Arvind Kejriwal said the agency has been told to probe their alleged collusion over hike in prices of natural gas from KG basin.
The Aam Aadmi Party on Tuesday attacked Narendra Modi and the Bharatiya Janata Party for keeping "mum" on the Reliance gas issue in which Mukesh Ambani is among others named in a first information report filed by the Anti-Corruption Branch of the Delhi government.
Downstream oil sector regulator Petroleum & Natural Gas Regulatory Board had been pushing for cancellation of the authorisation given to RGTIL.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Board would start selling the bid documents on November 22.
The ministry refused to buy RGTIL's argument that the government has already allocated all of the projected mmscmd of gas output from the KG-D6 fields to customers in Andhra Pradesh, Maharasthra and other northern states, leaving no gas for transportation through its proposed pipelines from Kakinada to Howrah, Chennai, Tuticorin and Mangalore.
Reliance Industries Holdings will now directly own stakes in Reliance Ports & Terminals, Reliance Gas and Transportation and Reliance Utilities and Power.
Ambani has investment in gas pipeline company Reliance Gas Transportation Infrastru-cture; Jamnagar-based power company Reliance Utilities and Power Ltd and Reliance Ports and Terminal Ltd.
"There are five Indian and six foreign companies which have submitted expression of interest (EoI) for buying stake in the gas transportation company (RGTIL)," a source privy to the development said.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
Companies with more than Rs 10,000 crore of debt would seek refinancing.
Anjanappa, chief of the Chikkaballapur unit of the party, has alleged that several crores of rupees were involved in the alleged scam and hence a probe had to be initiated.
Oil regulator PNGRB on Monday approved the tariff that Mukesh Ambani-owned East-West pipeline will charge for transporting gas from Reliance Industries' eastern offshore KG-D6 fields to users.
It also demanded Prime Minister Manmohan Singh to clarify on supply of gas and its price from RIL-operated fields.
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
Reliance Gas Transportation India Ltd, the pipeline company wholly owned by Reliance Industries promoter Mukesh Ambani, has decided to write to the finance ministry, seeking a restoration of profit-linked tax benefits the Budget has replaced with an investment-linked tax break.
Reliance Industries, India's largest company by market capitalisation, and GAIL India, the largest transporter and marketer of gas, have sought licences to sell natural gas to households and vehicles across 60 cities in India.
Very little notice, however, has been taken of the fact that Reliance Gas Transportation and Infrastructure Ltd, which set up the pipeline network for transport of this gas which has had rival users clamouring for government priority, is no longer owned by RIL, but by the latter's chairman and managing director, Mukesh Ambani. The change took place three years earlier and went largely unnoticed, even though RGTIL is crucial for RIL's burgeoning gas business.
Two years after it was first constituted, the Petroleum and Natural Gas Regulatory Board continues to move ahead in a patchy manner -- it is inviting bids for 2,800 km of cross-country pipelines and 1,200 km of spurlines next week; it is in the process of fixing tariffs for the Mukesh Ambani-owned Reliance Gas Transportation India Limited pipeline. Its chairman L Mansingh spoke at length on several of these issues to Sunil Jain.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
The company had a total debt of Rs 16,010 crore (Rs 160.1 billion).
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