Reliance Industries Limited (RIL) has come out with a statement saying its cost of production of gas from its Krishna-Godavari Basin is $2.9 per million metric British thermal units (mmBtu). In other words, the company will incur a loss if it is to supply 28 million metric standard cubic meters per day (mmscmd) to Reliance Natural Resources Limited, as it has been asked to do by the Bombay High Court. But the Bombay High Court judgement quotes RIL’s advocate Harish Salve as saying ‘that even at that price ($2.34 per mmBtu) RIL makes a profit’.
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