Ministry out of RIL-NTPC row
NEW DELHI: The oil ministry has distanced itself from the gas sales row between NTPC and Reliance Industries on the ground that it is a commercial issue between two entities, even as the Mukesh Ambani-controlled company on Monday filed its reply in the Bombay High Court to drill holes in the state-owned generation utility’s contention that there was a binding contract between the two firms.
Last week, the oil ministry wrote the power ministry saying contracts with private explorers do not leave any role for the government “to determine the outcome of commercial transactions between a buyer and seller”.
While private explorers are free to sell the gas to anyone, they have to seek the oil ministry’s approval for the pricing formula before starting production.
SOURCE:THE TIMES OF INDIA
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