Oil secretary Vivek Rae told reporters on Wednesday that he had received formal views of the finance ministry on this matter.
The government is working on solutions to stop international energy firms such as Santos, Eni and BHP Billiton from leaving India.
"RIL was forced to foray into the domestic market as a parallel marketer to handle the production from its petrochemical plant," said a senior official.
ONGC informed about likely continuity of its gas reservoirs with RIL's KG-D6 gas fields: Oil ministry in Parliament
ONGC informed DGH about "likely continuity of gas reservoirs" between its eastern offshore blocks & neighbouring gas fields of RIL's KG-D6, oil ministry said.
Rs 118,500 cr cess on the output of crude oil and natural gas in 3 decades, but not even 1% of this could be utilised for developing the sector, said a note.
Some government departments have supported the oil ministry's move to allow Reliance Industries to charge the new gas price for KG-D6 block.
Cairn India, which operates country’s biggest on land oilfields in Rajasthan, has appointed Mike Yeager, the former CEO of BHP Billiton’s petroleum business.
With India expected to become world's 3rd largest energy consumer in 7 yrs, PM said market-based pricing & technology are essential for meeting the nation's needs in this regard.
The pricing formula will be effective from April 1, 2014 for a period of five years, with the price being revised quarterly.
Private oil & gas companies like Cairn India, Reliance Industries, BP and others may get nod to explore shale resources soon
The government also plans to extend, albeit with a few stringent conditions, the recently approved shale exploration policy which allows only state-run ONGC and Oil India to explore shale resources.
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