New Delhi: Oil exploration companies Reliance Industries Ltd (RIL), GAIL India Ltd and Indian Oil Corp. Ltd have bid for rights to supply natural gas to households and businesses in the country.
RIL has bid to sell the fuel in three cities and GAIL, the gas distribution monopoly, has bid for four, the petroleum and natural gas regulator, said in a statement on its website. The board is overseeing the auction.
India is allocating gas from RIL’s largest field off the east coast to fuel-hungry fertilizer makers, power plants, and for distribution in cities to meet demand in the world’s second fastest growing major economy. The government is seeking to reduce tail-pipe emission by replacing diesel in vehicles with cleaner-burning natural gas.