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.


khalid August 31, 2009

Thanks for stopping by and offering blogroll exchange.


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