The government needs to re-establish that it truly wants international organisations to come into the country and work, hassle-free, in the oil and gas sector
AK Ramdas
In the last few weeks, there have been important developments relating to the oil industry. The tug-of-war between Reliance Industries Ltd (RIL) and the Petroleum Ministry has been going on for sometime now and the government imposed a penalty of $1.7 billion. But the debate on the application of revised (higher) rate for gas from April 2014 continued along with the uncertainty on the unsupplied portion of the gas and whether the contractees will get any compensation for non-delivery.
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