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New Exploration Licensing Policy awarded to RIL
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Addendum to Initial Development Plan (AIDP) submitted by RIL - Price per unit is 2.34$
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The negotiations for the first price rise took place when Mani Shankar Aiyar was in a 20 -month-stint as petroleum minister. He refused.
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Mani shankar Aiyar sacked
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Jaipal Reddy sacked
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RIL started pushing for a second price rise. This time they wanted the price to be hiked to an atrocious $14.2 per unit. Mr.Jaipal Reddy refused to toe the line.
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gas production reduced to a dismal 35 MMSCMD in February 2012 and at present it’s in 28 MMSCMD and is constantly on a decline.