RIL counters govt assertion on idle power plants

Last Updated: Thursday, March 26, 2015, 17:19

Reliance Industries has countered government's assertion that power plants were lying idle due to fall in output from its KG-D6 fields, saying most of these units were built much before the fields were even discovered.

Govt asks GAIL to remit incremental KG-D6 gas price every month

Last Updated: Wednesday, March 11, 2015, 20:44

Government has asked GAIL to remit to the exchequer on a monthly basis the incremental gas price from RIL's KG-D6 field towards recovery of profit share it claims is due from the private firm.

Niko to sell stake in RIL block on lower gas price hike

Last Updated: Sunday, February 15, 2015, 15:17

Niko holds 10 percent stake in the KG-D6 block where a total of 20 oil and gas discoveries had been made and three out of them are in production.

BP Plc writes off $830 million investment in KG-D6 block

Last Updated: Tuesday, February 3, 2015, 18:07

BP Plc has written down the value of its investment in eastern offshore KG-D6 block by USD 830 rpt USD 830 million, following lower-than-expected gas price hike.

Oil Min wants to recoup KG-D6 profit share from Panna fields

Last Updated: Sunday, February 1, 2015, 11:34

The Ministry believes RIL has to remit additional profit petroleum of USD 195 million to the government after USD 2.376 billion in KG-D6 expenditure was disallowed for output lagging targets.

RIL, BP to invest about Rs 6000 cr to improve gas recovery

Last Updated: Wednesday, January 28, 2015, 18:24

Reliance Industries and its partner BP plc of UK will invest about Rs 6,000 crore by 2016 to help sustain and improve recovery from the two main gas fields in the eastern offshore KG-D6 block.

RIL gas payments to be invested in interest bearing deposits

Last Updated: Wednesday, January 7, 2015, 14:58

After Reliance Industries demanded interest on KG-D6 gas payments flowing into gas pool account operated by GAIL, the state-owned firm has agreed to invest the receivables in short-term interest bearing deposits with public sector banks.

RIL seeks immediate start of KG-D6 cost recovery arbitration

Last Updated: Friday, December 26, 2014, 17:46

With its KG-D6 cost recovery arbitration stuck for three years, Reliance Industries has sought immediate start of the proceedings for early resolution of the dispute.

GAIL to pay royalty on RIL gas price

Last Updated: Tuesday, December 23, 2014, 16:07

State-owned GAIL India Ltd has been asked to pay royalty on the USD 1.41 per unit it is collecting on natural gas produced from Reliance Industries' eastern offshore KG-D6 fields.

SC appointed judge not yet onboard KG-D6 arbitration

Last Updated: Monday, December 22, 2014, 15:26

Supreme Court appointed former Australian judge Micheal Kerby has so far not accepted becoming the presiding arbitrator in the KG-D6 cost recovery dispute as Oil Ministry hasn't given its no-objection.

RIL names former UK judge as its arbitrator in gas dispute

Last Updated: Thursday, December 11, 2014, 16:07

RIL gave the name of Rix, who recently retired as Lord Justice of Appeal with 20 years experience in the Commercial Court and the Court of Appeal, earlier this week, sources privy to the development said.

ONGC to spend Rs 16,200 cr to drill 45 wells in KG-Basin

Last Updated: Sunday, December 7, 2014, 10:42

The oil and gas major has approached the Ministry of Environment and Forests seeking clearance for preparing terms of References, according to the minutes of meeting of Expert Appraisal Committee.