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Q.

BP to buy 30% in RIL oil & gas blocks ----news. What will it mean to RIL?

Tags: money, health, bp
Asked by Good Citizen, 22 Feb '11 11:30 am
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Answers (2)

 
1.

I feel it is one of the biggest achievements of RIL in the recent past. This will not only help RIL to consolidate further but also to enjoy the international market at will. Although BP has made a safe and calculated investment outside europe and they were forced by the booming Indian economy, market share enjoyed by the RIL, on the other hand RIL can strenthen its market position and standing with the help of BP and their expertised team to explore and make most out of the current scenario.Also RIL would be able to source LNG from BP's global facilities , RIL would build LNG import facilities and develop a countrywide gas network.

Moreso this announcement has come at a time when foreign investors might be thinking many things and may be repelled by corruption scandals and perceived policy drift in the country, as well as the uncertainty over government approval for the $9.6-billion Cairn-Vedanta deal. RIL should feel proud about this achievement.
Answered by Mohammed asim nehal, 22 Feb '11 12:35 pm

 
  
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Many great achievements for the Reliance for its prosperity and phenomenal stabilization in business sheet anchor . The deal will give the London-based company a 30 per cent stake in production from 23 oil and gas blocks operated by RIL in the country. Apart from the aggregate consideration, BP will also pay RIL for the future performance of up to $1.8 billion based on exploration success that result in development of commercial discoveries, taking the total deal value to $ 9 billion or Rs 40,000 crore.The 23 blocks of RIL, which also include the producing KG-D6 block, together cover about 270,000 square kilometres, making the partnership Indias largest private sector holder of exploration acreage.
RIL Chairman & Managing Director Mukesh Ambani and BP Group Chief Executive Robert Dudley on Monday signed the relationship framework and transactional agreements in London.This is the single largest FDI in the history of India, Ambani told reporters in London hoping the worlds best fin ...more
Answered by venkatesaldevarajan, 22 Feb '11 11:37 am

 
  
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