Govt recovers Rs 368 crore additional profit from RIL

Government has recovered nearly a third of the USD 195.34 million additional profit it is claiming from Reliance Industries' KG-D6 field as a result of penalty imposed for gas output lagging targets, Oil Minister Dharmendra Pradhan said Monday.

FAI pitches for continuing with 2007 gas price formula

At USD 100 per barrel oil price, the gas price, using this formula, will come to less than USD 5 per mmBtu.

RIL's Rs 509 crore bank guarantee returned by Oil Ministry

The surety, given on April 10, covers the incremental revenue RIL would have got in the April-June quarter if the price of gas were to double to USD 8.4 per million British thermal units.

First CCI meet: No breakthrough in oil, gas blocks issue

The first meeting of the newly formed Cabinet Committee on Investment Wednesday failed to break the logjam over defence clearances to oil and gas activities in 39 offshore areas, including Reliance Industries' producing KG-D6 fields.

RIL wins approval for $1 bn investment in KG-D6

Reliance Industries and BP plc on Tuesday won approval for over USD 1 billion expenditure in the flagging KG-D6 gas block but were ordered to drill more wells at their own cost before three gas finds can be declared viable.

Gas from KG-D6 drops to about 32 mmscmd

Reliance Industries has reported that natural gas production from its eastern offshore KG-D6 fields has dropped to about 32.66 million standard cubic meters per day.