118 Case Studies in Business Ethics and Corporate Governance
oil and gas sector. Instead, it has backfired and now private players are reaping exponential benefits
out of it in terms of availability of crude oil and natural gas at very low prices. The private players
are, in turn, selling the same at international market prices. Looting of public resources by private
companies, coupled with public loot of consumers, is the hidden meaning of the country’s petroleum
policies today.
JUDGMENT OF THE APEX COURT
When the case was fi led in the court of law against RIL’s pricing of the gas to public and private parties,
the court stated that the oil and gas produced in the KG Basin was a national asset and hence govern-
ment holds the title to the gas. ...