RIL vs RNRL, Govt gains more than RIL, says RIL

by khalid on 30/08/2009 · 2 comments

Mukesh vs Anil

Mukesh vs Anil

Mukesh Ambani-led RIL has said the government will earn revenues close to $16.5 billion (Rs 80,635 crore) from the gas discoveries already notified by it in its KG-D6 block, and its own share will be much less.

“The government’s revenues by way of its share in profit petroleum, royalty and income taxes would be about $16.5 billion over the life of the D1 and D3 (the two discoveries already announced) field, based on the approved price of gas (at $4.2 per unit),” P.M.S. Prasad, president of RIL’s petroleum business, said in a letter dated August 27 to R.S. Pandey, petroleum secretary.

Against government’s revenue of $16.5 billion RIL’s own net inflow over the life of the field is estimated at $10.7 billion, Prasad said in an apparent attempt to counter allegations levelled by the brother Anil. Anil has alleged that the government’s decision to approve the price of gas at $4.2 per unit from the KGD6 block will result in a “windfall profit” of Rs 50,000 crore to RIL, 100 times the government’s share.

Source : Yahoo Finance

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Josh Maxwell August 30, 2009

Do you do blogroll exchanging? If you want to exchange links let me know.

Email me back if you’re interested.

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khalid August 31, 2009

Thanks for stopping by and offering blogroll exchange.

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