Reliance talking to global firms for stake sale in gas block

HONG KONG (MarketWatch) — India’s Reliance Industries is talking to global energy firms, including Chevron Corp. , Exxon Mobil Corp. , British Gas and Royal Dutch Shell , for a stake sale in an offshore gas field, according to a local media report. The diversified Indian conglomerate has mandated Goldman Sachs for a stake sale in its D6 block in the Krishna-Godavari basin on the country’s eastern coast, according to a Press Trust of India report published by The Economic Times. Reliance may spin off the D6 block, with estimated natural gas reserves of more than 50 trillion cubic feet, into a special purpose vehicle before a stake sale may happen, the report added.
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Original post by Forextvblog

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