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Article: INDIAN OIL, GAS FIRM RIL THREATENS TO PULL OUT OF EXPLORATION.

Article from:
AsiaPulse News
Article date:
October 7, 2009
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NEW DELHI, Oct 7 Asia Pulse - India's Reliance Industries (BSE:500325) has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.

"The company today made a presentation to the ministry seeking relief for not being able to meet its commitment for drilling wells on 14 blocks during 2006 and mid-2009 when there was an acute shortage of drilling rigs," a Petroleum Ministry official said.

Firms like Oil and Natural Gas Corp (ONGC) (BSE:500312) and RIL have not been able to meet their work commitments for the blocks or areas they had won under the New Exploration Licensing ...

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