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Govt move to force old gas price for KG-D6 gas illegal: RIL

Last Updated: Thursday, September 05, 2013, 14:30

In a strongly worded letter, RIL on September 3 wrote to Oil Minister M Veerappa Moily saying the signed Production Sharing Contract (PSC) does not bind a contractor to indicative production numbers.

'Find if gas dip in RIL's KG-D6 is due to commercial reason'

Last Updated: Tuesday, April 23, 2013, 22:29

The Standing Committee on Petroleum and Natural Gas, in its report tabled in Parliament, noted with concern that the output from KG-D6 has been declining since 2010-11.

Gas output from RIL's KG-D6 fields drops to 22 mmscmd

Last Updated: Monday, January 14, 2013, 18:07

The output is made up of 17.66 mmscmd from D1&D3 and 4.38 mmscmd from MA field.

RIL hopes CAG won't do a performance audit of KG-D6 block

Last Updated: Saturday, November 03, 2012, 21:51

RIL was reacting to the CAG's statement that the audit of the RIL-operated Krishna-Godavari (KG) D6 oil and gas block has to be both a financial and performance audit.

RIL: Never contested CAG auditing KG-D6 spends

Last Updated: Saturday, November 03, 2012, 21:38

"RIL has at no time contested the government's right to conduct an audit by any agency, including the CAG, as provided in Section 1.9 of the Accounting Procedure of the PSC," the company said in a statement this evening.

CAG likely to start audit of RIL's KG-D6 by month end

Last Updated: Tuesday, October 23, 2012, 20:50

The Comptroller and Auditor General of India (CAG) has called a so-called kick-off meeting on October 31 to begin the second round of audit, sources privy to the development said.

DGH may look at new oil, gas sharing system for govt

Last Updated: Wednesday, October 17, 2012, 18:45

Under the existing Production Sharing Contracts (PSC), like the one RIL had signed for KG-D6 in 2000, companies are first allowed to recover all their cost before government gets its share of profit.

Mukesh Ambani meets Montek for nearly an hour

Last Updated: Monday, July 02, 2012, 15:21

Reliance Industries is facing penalty for falling gas output from its KG-D6 fields. It has also demanded tripling of its KG-D6 gas price from April 1, 2014 after the current below-market rate of USD 4.205 per mmBtu expires.

Panel approved less than half of RIL's expenditure on KG-D6

Last Updated: Tuesday, March 13, 2012, 20:24

RIL has claimed USD 9.47 billion in cost of developing Dhirubhai-1 and 3 (D1&D3) gas fields.

Oil Min again asks RIL to withdraw arbitration notice

Last Updated: Wednesday, February 29, 2012, 16:43

The Oil Ministry has once again asked Reliance Industries to withdraw its arbitration notice against the proposed move to curtail cost-recovery at its KG-D6 gas fields, saying no dispute on the issue has arisen as yet.

Action against Reliance in 3-4 weeks: Oil Secy

Last Updated: Tuesday, November 22, 2011, 14:14

The government will initiate action to limit the amount of expenditure Reliance Industries is allowed to recoup from its flagging KG-D6 gas fields in 3-4 weeks, Oil Secretary G C Chaturvedi said Tuesday.