IOC Secured More Than a Third of the D6 Gas in the Most Recent Reliance Auction

Participants in the auction came from a variety of gas-consuming industries, including fertilizer, municipal gas distribution, refineries, and aggregators.

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Out of the 4 mmscmd of gas auctioned last week, IOC received 1.45 million standard cubic meters per day.

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They stated that 38 successful bidders obtained gas through the auction procedure, which completed on November 24.

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Reliance and BP auctioned out 4 mmscmd of gas from the Krishna Godavari basin block beginning December 1, 2023 last week.

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According to the tender form, they invited users to propose a price tied to the Brent crude oil price.

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The beginning bid price for ‘v’ has remained unchanged at USD 1.08 per million British thermal unit.

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