The Centre on Friday cleared BP Plc's proposal to acquire 30 per cent stake in Reliance Industries Ltd (RIL)'s gas and oil blocks for $7.2 billion. “The Cabinet Committee on Economic Affairs (CCEA) approved the proposal to grant consent for transfer of 30 per cent participating interest of RIL to BP Exploration (Alpha) Ltd. (a unit of the U.K.-based oil major),” Petroleum and Natural Gas Minister S. Jaipal Reddy told journalists here.
