Centre may ask RIL to prioritise gas sales
Centre may ask RIL to prioritise gas sales The government will ask Reliance (Q, N,C,F)* Industries (RIL) to prioritise fuel sales to fertiliser plants, city gas and existing power plants, after it approved the company`s pricing formula. Petroleum Secretary M S Srinivasan said that, the government has the right to fix sectoral priorities, keeping in mind the overall national interest and the Empowered Group of Minister (EGoM) in future meetings will decide on which sectors should be given priority. The EGoM had on 12th September approved a price of Rs 172.20 per million British thermal unit for RIL`s KG-D6 gas which was lower than Rs 187.84 (USD 4.33) per mBtu price proposed by RIL. Srinivasan said the price approved by the EGoM will apply uniformly to all the sectors. >He said the principle for gas allocation would be the Integrated Energy Policy drawn by the Planning Commission and that fertiliser plants running below capacity and on expensive alternative fuels should be given the first right. The policy states that, the gas should be sold to end users and so there is no scope for traders.
Shares of the company were last trading up Rs 8.00, or 0.39%, to Rs 2,034.5. The total volume of shares traded was 68 0,004 at the BSE. (Friday)
