Petroleum Ministry to support NTPC in legal battle against RIL

September 25th, 2009 NEW DELHI - State-owned power utility NTPC has asked the power ministry to ascertain whether the marketing margin levied by Reliance Industries (RIL) on gas from the Krishna Godavari basin was valid. In a Sep 23 letter to the power ministry, NTPC executive director T.K.

September 10th, 2009 NEW DELHI - State-run power utility NTPC may sign an agreement to buy natural gas from Mukesh Ambani-run Reliance Industries (RIL) at the government-approved rate of $4.20 per unit for plants other than Kawas and Gandhar, Power Secretary H.S. Brahma said Thursday.

September 4th, 2009 MUMBAI - State-run power utility NTPC Friday said it was "committed to drawing the allocated gas" from the Krishna-Godavari hydrocarbon basin for projects in the national capital region that includes Delhi, even though it was fighting a legal battle with the contractor, Reliance Industries Ltd (RIL). "NTPC is committed to drawing the allocated gas for its national capital region gas-based power stations at Anta, Dadri and Faridabad, without prejudice to its rights and contentions in the ongoing suit between NTPC and RIL," said the company in a statement to the Bombay Stock Exchange (BSE).

September 2nd, 2009 NOIDA - State-run power utility NTPC will not file a separate plea in the ongoing legal dispute between Reliance Industries and Reliance Natural Resources since the government has already moved an application to protect its own and the navratna firm's interests, a senior government official said Wednesday. "Since the petroleum ministry has come out in support of NTPC, there is no need for NTPC to go to the Supreme Court," Power Secretary H.S.

August 21st, 2009 NEW DELHI - The petroleum ministry Friday said it will protect the interest of state power utility NTPC in its ongoing dispute over supply of gas from the Krishna-Godavari fields awarded to Mukesh Ambani-led Reliance Industries. "It has been alleged that the ministry of petroleum and natural gas is seeking to cause loss to NTPC.

August 21st, 2009 NEW DELHI - The petroleum ministry Friday said it will protect the interest of state power utility NTPC in its ongoing dispute over supply of gas from the Krishna-Godavari fields awarded to Mukesh Ambani-led Reliance Industries. "It has been alleged that the ministry of petroleum and natural gas is seeking to cause loss to NTPC.

August 19th, 2009 NEW DELHI - The ministerial panel set up to decide on the government's stand on the Krishna-Godavari gas row, will meet again Thursday after an informal round of talks here Wednesday. The high-level panel, consisting of Finance Minister Pranab Mukherjee, Petroleum Minister Murli Deora, Law Minister Veerappa Moily and Power Minister Sushilkumar Shinde, met "informally", according to sources.

July 30th, 2009 Indo-ASIAN NEWS SERVICE NEW YORK - The partisan stand adopted by India's petroleum ministry in the dispute over natural gas between two corporate houses will erode investor confidence and goes against the government's reforms direction, industrialist Anil Ambani has said. In an interview to the Wall Street Journal, Ambani, whose Reliance Natural Resources is fighting a legal battle with brother Mukesh Ambani-led Reliance Industries over supply of gas from fields off the Andhra Pradesh coast, said the oil ministry's position also violated the sanctity of contracts.

July 28th, 2009 MUMBAI - Reliance Natural Resources chairman Anil Ambani Tuesday accused the petroleum ministry of being biased in the legal dispute with brother Mukesh Ambani-led Reliance Industries over the price of natural gas from the Krishna-Godavari basin. Addressing shareholders of the company, he also said the government would not lose a single rupee even if the gas from the fields off the Andhra Pradesh coast were to be supplied to his company at the originally contracted price of $2.34 per unit.

July 28th, 2009 MUMBAI - Reliance Natural Resources chairman Anil Ambani on Tuesday blamed the Petroleum Ministry of maintaining a biased approach in the legal dispute with brother Mukesh Ambani-led Reliance Industries over the issue of the price of natural gas from the Krishna-Godavari basin. Anil, while addressing shareholders of the company, stated that the Government would not lose a single rupee even if the gas from the fields off the Andhra Pradesh coast were to be supplied to his company at the originally contracted price of 2.34 dollars per unit.

July 23rd, 2009 RAIPUR - Power utility NTPC Ltd has agreed to provide 35 percent of the electricity produced at its upcoming 500 MW stage-III Korba project to Chhattisgarh, a government statement said Thursday. "NTPC (formerly National Thermal Power Corp) has agreed to provide 175 MW power to Chhattisgarh from its 500 MW stage-III Korba project that will begin generation by February 2010," the statement said.

July 13th, 2009 NEW DELHI - The central government Monday said it has not issued any directive to the state-run power major NTPC, formerly National Thermal Power Corp, to sign a gas purchase deal with Reliance Industries Ltd (RIL). Government has not issued any instruction to NTPC for signing of gas purchase deal with RIL, Minister of State for Power Bharatsinh Solanki said in a written reply tabled in Rajya Sabha.

June 23rd, 2009 NEW DELHI - State-run power company NTPC Ltd is willing to buy gas from the Mukesh Ambani-owned Reliance Industries Ltd (RIL) at $4.2 per million British thermal units, but with exceptions, a top official said here Tuesday. R.S. Sharma, chairman and managing director of NTPC, formerly National Power Thermal Corp, told reporters here that the company might sign an agreement with RIL to purchase gas at the market price, but not for the plants under dispute in court.

May 14th, 2009 NEW DELHI - State-run power major NTPC Ltd has signed a Rs.8,500-crore ($1.7-billion) loan agreement with State Bank of India (SBI), the country's largest lender, it was announced here Thursday. The agreement was signed by NTPC general manager (finance) M.

April 8th, 2009 NEW DELHI - State-run power generation firm NTPC Ltd Wednesday reported 5.6 percent increase in its provisional net profit for 2008-09. NTPC, formerly known as National Thermal Power Corp, posted Rs.7,827.4 crore ($1.5 billion) as profit for 2008-09, compared to Rs.7,414.8 crore the year before, the company said in a statement.