State-owned Indian Oil Corporation (IOC) has cornered more than a third of the natural gas that Reliance Industries Ltd and its partner BP of the UK offered in the latest auction of the KG-D6 gas, sources said.
IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week. The oil refining and marketing company, which was the top bidder even in the previous two auctions of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes as an aggregator on behalf of fertiliser plants.
City gas companies, including Torrent Gas and Gujarat Gas, secured a total of 2.21 mmscmd of gas for turning into CNG for sale to automobiles and piped gas to household kitchens for cooking purposes, two sources with direct knowledge of the matter said.
