Petroleum Ministry Likely To End Ioc-Ril Spat

The ministry of petroleum and natural gas is expected to intervene and seek a settlement in the dispute between Indian Oil Corporation (IOC) and Reliance Industries (RIL) on their marketing joint venture.

Ram Naik, Union minister for petroleum and natural gas, told newspersons here Monday that the marketing agreement between the state-owned IOC and RIL is a commercial agreement.