Energy | RNRL, RIL deny dispute settlement report

Energy | RNRL, RIL deny dispute settlement report
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First Published: Tue, Nov 10 2009. 10 22 PM IST
Updated: Tue, Nov 10 2009. 10 22 PM IST
Mumbai/New Delhi: Reliance-Anil Dhirubhai Ambani Group firm Reliance Natural Resources Ltd (RNRL) has denied a report that it reached a compromise in a dispute with Reliance Industries Ltd (RIL) over natural gas supplies. Rumours of an out-of-court settlement with RIL are baseless and speculative, RNRL said in a statement to the Bombay Stock Exchange.
The Ambani family, including brothers Mukesh and Anil, met in Mumbai on 7 November to discuss ending the dispute, ‘Daily News & Analysis’ reported on Tuesday, citing unidentified investment bankers.
RIL also said the reports of an out-of-court settlement with RNRL.
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IEA expects gas glut due ti rise in output
London: There may be an acute glut of natural gas in the next few years because of rising production of so-called unconventional fuel in the US and Canada, according to the International Energy Agency (IEA). Global unconventional gas output will rise to 629 billion cu. m in 2030 from 367 billion cu. m in 2007, or to 15% of worldwide supply from 12%, the Paris-based adviser to 28 countries said in its annual World energy outlook. Gas supply capacity is set to outpace annual demand growth of 2.5% between 2010 and 2015, it said.
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First Published: Tue, Nov 10 2009. 10 22 PM IST
More Topics: Energy | RNRL | RIL | Mukesh Ambani | Anil Ambani |