Ril Gas Price
Reliance Industries seeks minimum of $10 to produce gas from coal seams
Reliance Industries Ltd is seeking a minimum USD 10 rate for the gas it plans to produce from coal seams, as it altered its pricing formula to reflect the changed energy scenario. Reliance has sought bids from users for 0.90 million standard cubic meters per day of gas it will produce from coal-bed methane (CBM) block SP (West)_CBM-2001/1 in Madhya Pradesh, according to a tender floated by the company. Users have been asked to quote a premium they are willing to pay over and above 12.67 per cent of the Dated Brent crude oil price. Gas price shall be higher than 12.67 per cent of Dated Brent plus premium 'V'; or the government-declared monthly price for conventional gas. The government-mandated price for January is USD 7.82 per mmBtu. Reliance has set the starting bid price of 'V' at USD 0.50 per million British thermal units - bidders have to quote 'V' higher than USD 0.50. At the current Brent crude oil price of USD 78 per barrel, the minimum gas price comes to USD 10 per mmBtu .
 "Reliance Industries seeks minimum of $10 to produce gas from coal seams")
On request, Reliance again puts off gas bid to November 15: Report
The sources said potential bidders sought more time to evaluate the terms of the offer and so the bidding deadline was pushed back to November 15
 "On request, Reliance again puts off gas bid to November 15: Report")
RIL paying 6% premium to buy coal-bed methane from its own block: Company
It paid $4.23 per million British thermal unit for the CBM produced during May-June
