Ambani seeks Naik's help on sale to oil PSUs

Seeks two-year extension for supply deal ending on Mar 31, 2004

Reliance chairman Mukesh Ambani met petroleum minister Ram Naik on Monday.

Ambani asked Naik to grant a two-year extension to the company's agreement with public sector oil retailing firms after the current one expired on March 31, 2004.

The oil companies are planning to cut purchases from Reliance's Jamnagar refinery by over 60 per cent from the next financial year due to increase in their refining capacity.

Ambani also had a 30-minute discussion with Petroleum Secretary B K Chaturvedi on the issue.