The $7.2 billion deal betwÂeÂen Reliance Industries and Britain's BP Plc, of which India's largest gas field KG-D6 is one, received approval from the Finance Ministry. It is leaÂrÂnt that the deal does not reqÂuiÂre CCEA nod. The Oil Ministry had unequivocally suppÂorted BP's deal to buy stakes in RIL. The deal includes BP's purchase of 30 per cent stake in Reliance's 23 blocks. BP, Europe's second-largest oil company, is hoping to help Reliance Industries find more oil and gas and boost outÂput at the showpiece KG-D6 fields. The Nifty July futures clÂosed above crucial resÂistance at 5,680 on account of positive outlook for the Indian market, after the government gave its consent to the BP-Reliance deal.
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Home » Fin Min gives nod to $7.2 bn RIL-BP deal
Fin Min gives nod to $7.2 bn RIL-BP deal
Oil & Gas
August 1, 2011August 1, 2011

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