Cairn favours market price discovery

Cairn India has come out in strong support of Reliance on natural gas pricing issue, saying that the debate on the fundamentals of the country's oil and natural gas exploration policy would send wrong signals. Rahul Dhir, CEO, Cairn India, said here today that any attempt to change NELP would be inappropriate.

"We wrote a letter to the government stating our position on gas pricing and anything that can be discussed, if at all, will be about the formula to be adopted to determine the price. The policy clearly states a market determined price for oil and gas," Dhir said.