Homeenergy News

Reliance Industries to sell its entire stake in Cambay Basin to Sun Petrochemicals, says report

Reliance Industries to sell its entire stake in Cambay Basin to Sun Petrochemicals, says report

Reliance Industries to sell its entire stake in Cambay Basin to Sun Petrochemicals, says report
Profile image

By CNBC-TV18 Jul 30, 2018 9:59:19 AM IST (Published)

Reliance Industries Ltd (RIL) is looking to sell its 70 percent stake in Cambay Basin to Sun Petrochemicals for an undisclosed amount, reported Mint.

Reliance Industries Ltd (RIL) is looking to sell its 70 percent stake in Cambay Basin to Sun Petrochemicals for an undisclosed amount, reported Mint.

Recommended Articles

View All

The application for assignment has been submitted to the Government of India for approval, RIL said in a presentation to analysts on Friday.
Reliance has a 70 percent participating interest in the oil and gas block CB-ONN-2003/1 (also called CB-10) while BP India holds the remaining, the report said.
The sale would mean that the RIL’s control over the block will now be limited to only four blocks in the area, the report said.
Disclaimer: 
RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!