{"id":291647,"date":"2019-09-16T05:42:38","date_gmt":"2019-09-16T05:42:38","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=291647"},"modified":"2019-09-16T05:42:38","modified_gmt":"2019-09-16T05:42:38","slug":"reliance-industries-bp-take-over-nikos-10-stake-in-kg-d6-block","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-industries-bp-take-over-nikos-10-stake-in-kg-d6-block\/","title":{"rendered":"Reliance Industries, BP take over Niko&#8217;s 10% stake in KG-D6 block"},"content":{"rendered":"<p>Reliance Industries and UK&#8217;s BP plc have taken over the 10 per cent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. <\/p>\n<p>Sources with knowledge of the development said the oil minister has given &#8216;unconditional&#8217; nod to Reliance and BP for taking over 10 per cent interest of Niko in KG-DWN-98\/3 or KG-D6 block in the Bay of Bengal. <\/p>\n<p>Reliance and BP split Niko&#8217;s share in proportion to their existing shareholding in the block. <\/p>\n<p>Subsequent to this, Reliance&#8217;s stake in KG-D6 has gone up to 66.67 per cent from previous 60 per cent and that of BP to 33.33 per cent from 30 per cent, the sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries and UK&#8217;s BP plc have taken over the 10 per cent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. Sources with knowledge of the development said the oil minister has given &#8216;unconditional&#8217; nod to Reliance and BP for taking over 10 per cent interest of Niko in KG-DWN-98\/3 or KG-D6 block in the Bay of Bengal. Reliance and BP split Niko&#8217;s share in proportion to their existing shareholding in the block. Subsequent to this, Reliance&#8217;s stake in KG-D6 has [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-291647","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=291647"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/291647\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=291647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=291647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=291647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}