BP and Niko Resources, Reliance Industries Ltd's (RIL's) partners in the KG-D6 block, have informed the Ministry for Petroleum and Natural Gas that they, too, will shoulder the responsibility of a bank guarantee along with the Indian partner. RIL and its partners have to pay a bank guarantee to benefit from the higher gas price effective April 1. In separate letters to the Ministry, the two companies said that as joint venture partners in the block, they were equally responsible in meeting any obligation.
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