'No-objection' to Reliance-BP Deal

NEW DELHI: Canada's Niko Resources and Hardy Oil and Gas have given no-objection to their partner Reliance Industries for selling 30 per cent stake in oil and gas blocks like eastern offshore KG-D6 to London-based BP Plc.

Reliance is selling 23 oil and gas blocks which, along with partners like Niko and Hardy, it had won under various rounds of New Exploration Licensing Policy since 1999.

It made separate applications for the transfer of 30% stake in these 23 blocks to the oil sector regulator DGH.