Reliance Industries Ltd. , the operator of India’s biggest natural-gas find, and its partners BP PLC and Niko Resources Ltd. said Saturday that they have sought arbitration with the Indian government in an effort to force implementation of a planned price increase for natural gas. India’s government sets gas prices in the domestic market. India’s cabinet last year approved a plan to increase the price of natural gas to around $8 per million metric British Thermal units from $4.20 now. The oil ministry in January said the new price would come into effect from April 1 and would be revised quarterly. India’s election watchdog in March, however, deferred the implementation of the federal-government decision, saying it could affect the outcome of national elections which began in May and end on Monday. Results are set to be announced Friday. “We have received the arbitration notice. We will take […]