Geography of Andhra Pradesh Current Affairs, GK & News

RIL warns of KG-D6 shutdown, govt shows CAG’s red card

July 21, 2012

The tussle b/w Reliance Industries and the petroleum ministry over the future of India’s significant gas acreage reached to a full blown confrontation. Reliance and its partner BP have indicated the shutdown of the country’s biggest gas discovery- KG-D6 in 2015 if the government did not approve its long-pending investment proposals and revised capital expenditure ..

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Govt disallows $1.24 bn RIL cost recovery

May 7, 2012

The Petroleum Ministry disallowed the RIL’s (Reliance Industries Ltd) $1.24 billion cost recovery from its investment in the KG-D6 field, in the Krishna-Godavari (KG) basin. RIL has already taken the government to the Supreme Court over its inability to nominate an arbitrator over the issue of cost-recovery. Why Govt’s Notice to RIL? A Notice was ..

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