Petrol is expected to be cheaper by about Rs 1.90 a litre in Delhi from Tuesday midnight as state oil firms have decided to cut its rates.
RIL has so far spent $5.59 billion in developing the D1 and D3 fields in the D6 block, out of the approved capital expenditure of $8.8 billion.
Finance Ministry to give Indian Oil, Hindustan Petroleum and Bharat Petroleum additional Rs 15,000 cr
Finance ministry will grant another 15,000 crore as compensation to loss-making state refiners for selling fuel below mkt rates.
Higher purchases of diesel by China and the seasonal surge in heating oil demand is making matters worse for the government.
Two consecutive increases in less than two months have triggered strong protests even from the ruling party and its allies.
Essar wants to revise the amount because costs have risen but the oil ministry, which is facing severe scrutiny from the CAG on its dealings with private firms, wants to be cautious.
Petrol is costlier by Rs 1.80 a litre in Delhi from Friday giving another blow to the common man facing over 12% food inflation.
The oil ministry plans to counter Comptroller and Auditor General's charge of favouring Reliance Industries in administering the D-6 block.
BP India CFO Kris Sliger will represent the company in the management committee that takes crucial decisions on budgets and field development plans for.
A global consultant will authenticate Reliance's $1.52-billion proposal to produce about 10 million standard cubic metres per day in its D6 block.
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