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Reliance Industries Files Gas Case to Supreme Court

Bloomberg -- Billionaire Mukesh Ambani’s Reliance Industries Ltd. said it filed a petition to the Supreme Court challenging a lower court order to supply natural gas to Reliance Natural Resources Ltd. at a discount to the government-fixed rate.

Reliance Industries said in its petition that it can’t sell the gas from its Krishna Godavari field at a price lower than the $4.2 per million British thermal units set by the government. Company spokesman Tushar Pania confirmed that the petition had been filed today and declined to comment further.


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Submitted Jul 05, 2009 By: ziyulu
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REPLIES (newest first)
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Hugo40
Champion Author Kentucky

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Message Posted: Jul 5, 2009 3:49:43 PM

What?
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Beboper
Champion Author Virginia

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Message Posted: Jul 5, 2009 3:40:30 PM

so what
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pigmanTX
Champion Author Houston

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Message Posted: Jul 5, 2009 3:39:09 PM

Not even a blip on my radar.
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jpk13
Champion Author Wisconsin

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Message Posted: Jul 5, 2009 3:37:58 PM

It sounds like India has bigger issues in its legal system than we do.
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ironbox_sara
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Message Posted: Jul 5, 2009 3:37:03 PM

Who cares.
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dks458
Sophomore Author Boston

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Message Posted: Jul 5, 2009 3:28:13 PM

this doesn't sound like a US Supreme Court case
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MustangKen
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Message Posted: Jul 5, 2009 3:28:12 PM

It'll be that way here soon.
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HEBster
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Message Posted: Jul 5, 2009 3:25:35 PM

Looks like they'd better learn to keep their commitments...
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fuelconscious
All-Star Author Los Angeles

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Message Posted: Jul 5, 2009 3:23:00 PM

Whats next the government fixing the price of Coca-Cola?
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nojsts
Champion Author St. Louis

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Message Posted: Jul 5, 2009 3:22:19 PM

I have to pay so should they.
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suzyq2007
Champion Author Dallas

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Message Posted: Jul 5, 2009 3:22:15 PM

and this will probably make our prices go up
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montytexas
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Message Posted: Jul 5, 2009 3:18:28 PM

The "government fixed rate" always causes unexpected problems....
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Ken2OD
Champion Author Grand Rapids

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Message Posted: Jul 5, 2009 3:17:34 PM

I guess all countries have superfluous legal cases going to their respective Supreme Courts. This case won't affect me one way or the other.
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Kato51
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Message Posted: Jul 5, 2009 3:16:27 PM

Why should they have a price lower than every one else? Maybe hey should pay the same but receive a handout for the balance from boma.
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Toppers
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Message Posted: Jul 5, 2009 3:16:03 PM

This' a great article...for Indian's don't know if it has much relevance to us here...
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jmuse
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Message Posted: Jul 5, 2009 3:11:54 PM

who cares?
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Lizzylou
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Message Posted: Jul 5, 2009 3:09:46 PM

They should be made to abide by the price they contracted at!
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weenerdog
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Message Posted: Jul 5, 2009 3:01:10 PM

I have to pay the same price to heat my house no matter what the outcome.
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DeHavilland
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Message Posted: Jul 5, 2009 2:58:14 PM

Good point, fairchildd!
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bigmacatac
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Message Posted: Jul 5, 2009 2:58:09 PM

Don't sell it cheaper then. GIVE IT AWAY!!!!!!!!!!!!!!!!!!!!1
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Jizme
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Message Posted: Jul 5, 2009 2:57:38 PM

Bla, bla, bla, whatever.
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915Chief
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Message Posted: Jul 5, 2009 2:55:31 PM

A 17 year contract? Time to put the hooka down...
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fairchildd
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Message Posted: Jul 5, 2009 2:55:28 PM

if you don't want to get stuck in a bad deal, then don't do the deal. Otherwise, live up to your end of the bargain
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adapal
Veteran Author Reading

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Message Posted: Jul 5, 2009 2:53:51 PM

This story is about a company in India which signed a contract to sell natural gas at a price. Well, the world spot price of the natural gas went up and they locked themselves into a 17 year contract. I don't know about India, but here in the United States if you set a 17 year price that is the price for the next 17 years, unless you are able to renegotiate a new rate.

But still, this article has nothing to do with the US.
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hank1326
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Message Posted: Jul 5, 2009 2:52:27 PM

Ditto to PathfinderSC. Do what we can to control. Conserve more than ever now!
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ThatHunt
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Message Posted: Jul 5, 2009 2:51:22 PM

I certainly hope Supreme Court will not hear this case and let stand lower court's decision.
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milespergallon
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Message Posted: Jul 5, 2009 2:49:25 PM

How, exactly does this affect us?
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kyrunner
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Message Posted: Jul 5, 2009 2:45:09 PM

I bet our federal government wished they could control all of our energy companies like Bombay does. Governments don't care whether profits are made as long as they get their social wishes. Companies don't operate long at a loss.
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krell58
Champion Author Missouri

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Message Posted: Jul 5, 2009 2:37:04 PM

This is natural gas not even sold here.
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Bussman
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Message Posted: Jul 5, 2009 2:33:04 PM

You can bet higher profits are at stake.
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Fitwit
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Message Posted: Jul 5, 2009 2:27:09 PM

In Pumpanese that translates to....?
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pitchingcoach
Champion Author Michigan

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Message Posted: Jul 5, 2009 2:24:54 PM

If you are unhappy, sue someone!!
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eagleeye2008
Champion Author Wisconsin

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Message Posted: Jul 5, 2009 2:18:00 PM


WELL!!!,THEY HAVE THE "OIL CARTEL" TOTALLY SCRED UP,,,NOW THEY WISH TO SQUEEZE GREATER PROFITS OUT OF THE "NATURAL GAS" MARKETS,,,,ALL TO GAIN EVEN MORE CONTROL !!!!!,,,,,MORE GREED !!!!!
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phurburger
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Message Posted: Jul 5, 2009 2:14:57 PM

What in the world does this story about the country of India have to do with anything we care about in the U.S.? In the first place there's no way we could or would even want to understand the inter-workings of government and industry over there.
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Slyguy1060
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Message Posted: Jul 5, 2009 2:12:48 PM

You got that right OHMS!
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AnObserver
Champion Author New Jersey

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Message Posted: Jul 5, 2009 2:10:57 PM

This appears to the (Ambani) family fued in INDIA - more contract law than energy supply
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JohnJ55
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Message Posted: Jul 5, 2009 2:09:26 PM

so the courts decide prices now?
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DocWyeth
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Message Posted: Jul 5, 2009 2:07:49 PM

Socialism is F up!
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thirstyauto
Champion Author Milwaukee

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Message Posted: Jul 5, 2009 2:06:18 PM

What's next??
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paulydel
Champion Author Delaware

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Message Posted: Jul 5, 2009 2:06:04 PM

I hope you enjoyed your last Fourth of July celebtrating our independence.



[Edited by: paulydel at 7/5/2009 2:07:01 PM EST]
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uglytom
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Message Posted: Jul 5, 2009 2:01:22 PM

Some one wants to sell lower?
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balljars
Champion Author Michigan

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Message Posted: Jul 5, 2009 2:00:30 PM

I do not understand a court can do that.
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CLM06
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Message Posted: Jul 5, 2009 2:00:21 PM

God forgive we should get a break
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BazooQC
Champion Author Montreal

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Message Posted: Jul 5, 2009 1:59:09 PM


Huh! Surprise surprise. In the free business world, I didn't think price fixing was allowed. The courts are involved in this? Where is my consumer protection!
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Valricoslash
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Message Posted: Jul 5, 2009 1:56:47 PM

Like all things government does, it does not apply to us working stiffs. Only the government.
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dabuzman
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Message Posted: Jul 5, 2009 1:53:18 PM

If the government can get a rate what wrong with the public getting the same rate.
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beachbumCA
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Message Posted: Jul 5, 2009 1:52:41 PM

Obama may just fire him. Just look at all the auto dealers and their workers have been fired.
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Ltdc
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Message Posted: Jul 5, 2009 1:44:04 PM

Not good when courts start dictating prices.
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foxups
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Message Posted: Jul 5, 2009 1:41:20 PM

greed greed greed
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FordGuy48
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Message Posted: Jul 5, 2009 1:41:01 PM

"everyone wants more money so see OBAMA he is the controller of the usa money "

The Wizard of Ob...............
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no_monkey2002
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Message Posted: Jul 5, 2009 1:37:53 PM

everyone wants more money so see OBAMA he is the controller of the usa money
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LocalSpyGuy
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Message Posted: Jul 5, 2009 1:35:34 PM

Sounds like they have a problem.
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