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Reliance BP seeks higher price

 Reliance Industries, UK oil giant BP and Canada's Niko have filed an arbitration notice against the Indian government over gas prices.
The firms operate India biggest natural gas field, KG-D6, and had won an approval to nearly double their prices.
But the implementation of that move was deferred by India's election watchdog ahead of the ongoing general elections.
The firms said the delay in increasing the prices was impacting their plans to develop the field.
The companies said in a statement over the weekend that without clarity on when the prices will rise, they "are unable to sanction" planned investments of close to $4bn (£2.4bn) this year.
"In addition, this will also delay the ability of the parties to appraise and develop other significant discoveries made last year."

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