Anil Ambani hits at Petroleum Ministry for being biased

Anil Ambani hits at Petroleum Ministry for being biased Targeting Union Petroleum Ministry for alleged inclination towards the Mukesh Ambani-led Reliance Industries, Reliance Natural Resources chairman Anil Ambani said that the government should play a neutral role in the ongoing dispute between the two brothers over the price of natural gas from the Krishna-Godavari basin.

Addressing the shareholders, Mr. Anil Ambani said that the government is not going to gain or lose by selling gas from the fields off the Andhra Pradesh coast at the original contractual price of $2.34 per unit.

Mr. Ambani added: "The gas price of $2.34 per unit was not decided by two brothers on the dinner table." He said that prices were not decided overnight, but these were based on the prevailing crude rates at that time and duly approved by the Board of Reliance Industries in 2005.

His outburst came after the Bombay High Court's decision last month, allowing the supply of 28 million units of gas to Reliance Natural Resources for 17 years at $2.34 per unit.

Mr. Ambani contended, "For the record, I want to emphasize that the government does not stand to lose even a single rupee even if Reliance Industries sells the gas at lower than approved valuation price to any party."

Meanwhile, Petroleum and Natural Gas Minister Murli Deora declined to comment on the charges saying the matter was sub-justice.