Reliance Industries Ltd and its partner BP plc of the UK have reverted to oil indexation for pricing the gas they produce from India’s largest private-sector operated field in the KG basin as they look to tap into the upside from the buoyant oil market.
Reliance and BP in a tender have sought bids from buyers for 4 million standard cubic meters per day of gas from the KG-D6 block in the Bay of Bengal starting December 1, 2023.
