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Govt slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 16:09

With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative USD 2.376 billion.

Government slaps $579 mn additional penalty on RIL

Last Updated: Monday, July 14, 2014, 15:53

The total penalty now stands at USD 2.37 billion. The penalty in the form of disallowing costs incurred on the field is for missing the target in 2013-14.

RIL says CAG comment on gas price is part of draft report

Last Updated: Saturday, May 31, 2014, 20:57

Reliance Industries on Saturday said the CAG comment that the company charged a rate in excess of the government approved price for its KG-D6 gas is part of a draft report which has not yet been finalised.

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.

New gas rates to be applicable from Apr 1: RIL to buyers

Last Updated: Wednesday, May 14, 2014, 15:03

Forced to sell gas at rates that have long expired, Reliance Industries has categorically told buyers of its KG-D6 gas that new rates as and when approved, will apply from April 1.

RIL says gas price revision delay may stall $4 bn investment

Last Updated: Sunday, May 11, 2014, 12:26

With the Oil Ministry indicating that a new gas price may be delayed by a quarter, Reliance Industries has said the postponement may stall USD 4 billion of investment in KG-D6 block's second-biggest gas field.

No favour from Govt in KG basin: RIL to SC

Last Updated: Wednesday, April 16, 2014, 19:50

Senior advocate Harish Salve, appearing for RIL, denied allegations of favour and collusion and said the company was in dispute with the government on several issues.

ONGC may save up to $800 mn if it uses RIL's KG set-up: Report

Last Updated: Monday, April 14, 2014, 15:24

In July last year, ONGC had inked a Memorandum of Understanding with RIL to explore the possibility of sharing the latter's infrastructural facility in the East Coast.

ONGC, RIL to appoint joint expert to resolve gas dispute

Last Updated: Sunday, April 13, 2014, 12:55

ONGC says at least three wells drilled by RIL on the boundary of KG-D6 block in Bay of Bengal are within "few hundred meters" of its gas fields. It fears the fields are connected and RIL may be drawing out its gas.

RIL to sell gas at current rate as govt defers price revision

Last Updated: Friday, March 28, 2014, 20:36

Reliance Industries will continue to sell natural gas from its eastern offshore KG-D6 fields at the current rate until the next government decides on a revision in prices.

DGH backs ONGC demand for appointing expert in KG basin issue

Last Updated: Monday, March 17, 2014, 16:07

Oil and Natural Gas Corp (ONGC) says at least three wells drilled by RIL in the eastern offshore KG-D6 block are within "few hundred meters" of its gas fields and it fears the two may be sharing the same pool of reservoir.

ONGC wants expert to assess if RIL taking its gas in KG basin

Last Updated: Tuesday, March 04, 2014, 22:32

ONGC says four wells drilled by RIL in the eastern offshore KG-D6 blocks are within "few hundred metres" of its gas field and it fears the two may be sharing the same pool of reservoir.