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Shares of Reliance Industries and ONGC will witness higher activity on Thursday as the Cabinet allowed them to develop a dozen contentious natural gas discoveries worth about ₹1 lakh crore at current prices. The new policy gives companies the option to either develop the finds at their own risk or perform upstream regulator DGH-prescribed conformity tests before developing them and recoup the entire cost. The 12 finds hold reserves of around 90 bcm of gas, at $4.66 per mmBtu.
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