Reliance Industries Ltd will give Rs 750 crore (Rs 7.5 billion) discount on LPG and kerosene to public sector petro retailers in 2005-06.
Standalone refineries including RIL are offering a total of Rs 1,500 crore (Rs 15 billion) discount on LPG and kerosene they sell to Indian Oil, Bharat Petroleum Corp and Hindustan Petroleum Corp, IOC chairman Sarthak Behuria told reporters on Friday.
Besides RIL, other standalone refineries include Kochi Refineries Ltd, Mangalore Refinery and Petrochemicals Ltd and Bongaigaon Refineries and Petrochemicals Ltd.
These refining firms will also offer a 40 per cent discount on the difference between export and import parity price. This comes to Rs 1,200 crore (Rs 12 billion) from September 2005 to March 2006, he said.
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