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CAG slams OilMin, DGH for poor monitoring of RIL KG-D6 block

Last Updated: Wednesday, May 28, 2014, 23:12

The Comptroller and Auditor General of India (CAG) has slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over Reliance Industries' KG-D6 block which led to losses of several hundred millions of dollars to the exchequer.

Talukdar to take over as DGH Thursday

Last Updated: Wednesday, February 05, 2014, 22:22

Talukdar, who currently is director for exploration in Oil India Ltd. (OIL), will replace a bureaucrat at the DGH.

Oil Ministry split on extra time for RIL to validate gas finds

Last Updated: Wednesday, January 22, 2014, 17:55

The Petroleum Ministry is split down the middle on allowing Reliance Industries extra time to validate five natural gas discoveries worth USD 10 billion.

DGH disagrees with Kelkar report on oil exploration contracts

Last Updated: Monday, January 13, 2014, 14:07

Kelkar, who was Oil Secretary from 1995 to 1997, submitted the first part of his report last week.

Ministry forms panel to codify discovery-recognition norms

Last Updated: Thursday, January 02, 2014, 15:39

Amid disputes over recognition of oil and gas finds, the Oil Ministry has formed a panel headed by the Director General of Hydrocarbons (DGH) to codify globally recognised industry practices for adoption in India.

Cairn India to invest up to $750mn on KG-Basin Block over 5 years

Last Updated: Thursday, December 05, 2013, 15:53

Once the DGH approval comes, the JV will invest USD 700-750 million over 3-5 years on the Block. The investment includes creation of necessary infrastructure and production, sources said.

RIL to invest $3.2 bn to bring D34 gas discovery to production

Last Updated: Tuesday, October 15, 2013, 14:07

Reliance Industries has said it will invest USD 3.2 billion in bringing to production the satellite D34 gas discovery to reverse the decline in output at the Bay of Bengal KG-D6 block.

RIL says DGH shifting goalposts to strip off its discoveries

Last Updated: Sunday, October 06, 2013, 13:08

Reliance Industries Ltd (RIL) has accused oil regulator DGH of shifting goalposts to strip off 8 gas discoveries holding 1.15 trillion cubic feet of reserves worth USD 14 billion from its eastern offshore KG-D6 block.

DGH recommends disallowing $800 mn from RIL cost

Last Updated: Tuesday, September 17, 2013, 22:01

RIL in the accounts for 2011-12 submitted to DGH, claimed USD 4.215 billion as cost that is yet to be recouped from sale of oil and gas from the fields.

RIL-BP win approval for $3.18 bn plan for R-Series gas field

Last Updated: Thursday, August 29, 2013, 13:52

Reliance Industries and its partner BP Plc on Thursday won approval to invest USD 3.18 billion in R-Series gas field in the flagging KG-D6 block.

Difficult to implement FinMin suggestion on RIL: DGH

Last Updated: Sunday, August 11, 2013, 12:32

Oil regulator DGH has cited practical difficulties in implementing finance ministry's suggestion that Reliance Industries should not be allowed to raise natural gas prices until it makes up for producing less than the projected output since 2010.

DGH fines Reliance Industries $1.78 bn for gas shortfall

Last Updated: Wednesday, August 07, 2013, 14:05

Oil regulator DGH has recommended an additional penalty of USD 781 million on Reliance Industries, taking the total fine on the company for producing less than projected natural gas from KG-D6 fields to USD 1.786 billion.