Reliance Industries Ltd’s decision to sell 30 per cent stake in its 23 oil and gas blocks, for $7.2 billion as part of a long-term deal that involves a total investment of $20 billion, is seen by many as a win-win for both the companies. The deal will not only provide RIL with BP’s skills in deep water oil exploration, but it will also help the UK firm to emerge from the miseries of last year’s Gulf of Mexico environmental disaster.
