Oil Ministry to move Cabinet to allow RIL to retain gas finds

New Delhi: The Oil Ministry is in search of Cabinet nod to allow Reliance Industries (RIL) to keep hold of three gas discoveries value USD 1.45 billion in the eastern offshore KG-D6 block still after finish of timelines.

RIL has not been able to present a expansion plan for D-29, 30 and 31 gas discoveries, which hold an predictable 345 billion cubic feet of treasury, with the prescribed timelines due to argument with the upstream watchdog DGH over tests required to confirm them.

The Oil Ministry feels that taking away the discoveries and rebidding the finds may direct to holdup in expansion, sources privy to the case said.

Also, it feels RIL may go to adjudication which may guide to additional delay in manufacture and extra cost connected with the negotiation.

The three finds, which can be rapidly put on construction by RIL using obtainable communications of at present producing gas fields as well as those being urbanized, are merit USD 1.45 billion at existing gas cost of USD 4.2 per million British thermal unit.

Reliance Jio opposes application to fasten identical range tradition fees at 3%

 
Reliance Jio Infocomm (RJI), the telecom limb of Reliance Industries Ltd, has objected to the order for consistent spectrum usage charge (SUC) of three per cent by GSM operators. The Telecom rigid influence of India (Trai) has previously suggested consistent amount of three per cent.

Iindependent boost in SUC for BWA range from one per cent to three per cent will be unlawful. The government may take suitable verdict on SUC for approaching auctions but devoid of changing the there SUC rule, whichever straight or indirectly, for previously billed or auctioned band," RJI said in a letter sent to the telecom escritoire on Monday.

Trai had planned a uniform  fees of three per cent irrespective of the quantum of range detained by an machinist. Broadband wireless access (BWA) range holders like RJI reimburse only one per cent SUC. Current dramatis personae like Vodafone India, Bharti Airtel and Idea Cellular want the bill to be standardized as they pay as a great deal as eight per cent SUC. RJI said that conditions and environment of the 'notice inviting application', the main file of scale auctions, are similarly compulsory on both the Department of Telecommunications (DoT) and bidders, and any place of duty facto variation in public sale regulations which extends excessive profit to current operators will not position official inspection.

RJI said that companies while export range in the public sale factored in circumstances, as well as SUC, in their offer amounts with rational anticipation that the situation notified will not be altered. At lower uniform SUC for spectrum that had been auctioned in past, there would have been more involvement and bids more violent, RJI extra. "Therefore, showing decrease in the SUC would not only reason vast pasting to the government but also would have poor some of the operators to attain range from end to end these auctions."

Referring to the capitulation complete by the Cellular Operators Association of India (COAI), connected Chambers of business and manufacturing of India and top executives of foremost GSM mobile operators, RJI said the representations do not unavoidably put onward the accurate details and strength misinform the government.

RJI's budge comes a day previous to the Telecom expenses meets to take a vision on the bill after which the empowered cluster of ministers will get hold of a last result. A pronouncement on the matter is critical for bidders since a flat fees would hearten operators to buy more field and an increasing allege would deject them from mounting their gamut asset.

The constant scuffle over SUC forced DoT to delay the public sale on or after January 23 to February 3 next year. DoT estimates that lowering of SUC to three per cent will source a loss of Rs 3,738 crore to the government over 20 years on regeneration of the six licences belonging to Airtel, Vodafone and Loop Mobile due to end in 2014.

DoT says lowering of SUC to 3% determination reason thrashing of Rs 3,738 cr to the government

Open to joining hand with Airtel for 4G services in Punjab: Mukesh Ambani

 
Two of the country's biggest business moguls could come together to set up a digital infrastructure in the country. Reliance Industries Ltd chairman Mukesh Ambani has said that he is open to joining hands with telecom giant Bharti Airtel for improving telecom network for 4G services in Punjab.

"Punjabis are the brand ambassadors of India. We are present in Punjab in manufacturing, retail. We are also rolling out our first digital infrastructure for 4G in the state with an investment of about Rs 2,500 crore," Ambani said at the Progressive Punjab Summit in Mohali on Monday.

"For further enhancing the digital experience, we can have a collaborative partnership with our friend Mr Mittal," Ambani further said. Reliance Jio Infocomm is the only company which has pan-India airwaves that can be used for 4G services. In April, Reliance Jio and Airtel joined hands to share capacity of a submarine cable.

"We are working towards making Punjab a digital technology hub in the near future. We also have large retail presence in the state, and also as part of our CSR (corporate social responsibility) initiative, our Bharti Foundation is working in 80 villages educating close to 13,000 children," Sunil Bharti Mittal, chairman, Bharti Group, said.

Ambani added that his company would look forward to forge a partnership with Airtel. "We look forward to Sunil and me for a partnership to serve people and build infrastructure." Meanwhile, Airtel signed an initial agreement with the Punjab government committing an investment of Rs 4,000 crore towards building digital infrastructure for 4G services.