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Govt plans to stop RIL from selling crude to Jamnagar refinery

Govt plans to stop RIL from selling crude to Jamnagar refinery
The Oil Ministry is considering ordering Reliance Industries to stop selling KG-D6 crude oil to its Jamnagar refinery and instead sell it to Chennai Petroleum Corp Ltd (CPCL) at lower rates. The Production Sharing Contract (PSC) mandates producers to sell crude oil at the best available market rate so as to ensure highest profit petroleum and royalty to the government. RIL, which sold crude oil from the MA oil field in the predominantly gas-rich KG-D6 block to CPCL during first five years of ...
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