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Oil ministry proposes pricing freedom for RIL, ONGC

Oil ministry proposes pricing freedom for RIL, ONGC

Tuesday, March 14, 2017, 3:16 PM

In a boost to firms like Reliance Industries Ltd and Oil and Natural Gas Corp. (ONGC), the oil ministry has proposed to the cabinet that coal-bed methane (CBM) gas producers be given pricing freedom and allowed to price the fuel at market rates. ONGC and Essar Oil will benefit from the new policy as it will help them put their acreage into production quickly.
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