No Surprise: Reliance Industries Shares Rise

Jaipal Reddy was perceived to be keeping corporate lobbies at bay. Veerappa Moily is perceived to be more “pragmatic.”

NDTV: Reliance Industries shares rise on Reddys exit from Petroleum Ministry  

Jaipal Reddy - known to be honest - kicked out. Salman Khurshid - corrupt - promoted.  That's UPA

Deccan Herald: Opposition questions Reddy's removal
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According to an ONGC insider, the KG basin discovery was first made by ONGC in the 90's, which they submitted it to the Union minister. The Ambanis got it through lobbying and made a never-heard-of "discovery" on their very first attempt.