Gas exploration from KG basin: SC asks RIL to reply in 4 weeks
9 years, 11 months ago

Gas exploration from KG basin: SC asks RIL to reply in 4 weeks

The Hindu  

The Supreme Court on Monday gave four more weeks to Mukesh Ambani’s Reliance Industries Ltd and others to respond to the final CAG report which found alleged irregularities, including in payments to contractors on drilling of D6 wells at the Krishna-Godavari basin. Thakur, J. Chelameswar and Kurian Joseph would examine the RIL’s response to the CAG report that had sought disallowance of USD 357.16 million expenditure RIL had incurred on drilling of wells and payments to contractors in KG-D6. The order was passed during a brief hearing of petitions filed in 2013 by senior CPI leader Gurudas Dasgupta and NGO Common Cause, challenging the erstwhile UPA government’s decision to double the price of natural gas from USD 4.2 to USD 8.4 per mmbtu and seeking cancellation of RIL’s contract for exploration of oil and gas from the KG basin. Earlier, the court had allowed Mr. Dasgupta and other petitioners to file their responses to the NDA government’s fresh guidelines which would “supersede” the UPA regime’s policy on price fixation for natural gas, including that from KG basin, which has been the bone of contention between the Centre and RIL.

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History of this topic

RIL challenges oil ministry's decision to take away 5 gas finds
10 years, 1 month ago

RIL challenges oil ministry's decision to take away 5 gas finds

Firstpost  

RIL has slapped an arbitration notice challenging oil ministry’s decision to take away 814 square kilometer of its eastern offshore KG-D6 area that contained five gas discoveries. New Delhi: Reliance Industries has slapped an arbitration notice challenging oil ministry’s decision to take away 814 square kilometer of its eastern offshore KG-D6 area that contained five gas discoveries. RIL on 14 …

Supreme Court gives RIL 6 weeks to respond on Gas Pricing
10 years, 2 months ago

Supreme Court gives RIL 6 weeks to respond on Gas Pricing

Live Law  

The Supreme Court on 16th January gives 6 weeks time to Mukesh Ambani’s Reliance Industries Limited to respond to the Comptroller and Auditor General of India report on the gas pricing from the KG basin.A bench headed by Justice T S Thakur also allowed Dasgupta and other petitioners to file their response to the NDA government's fresh guidelines which would …

RIL to give up KG basin gas discovery block
10 years, 3 months ago

RIL to give up KG basin gas discovery block

The Hindu  

Reliance Industries will relinquish its Krishna Godavari basin gas discovery block, KG-D3 due to operational restrictions placed by the Defence Ministry. RIL, which had made four consecutive gas discoveries with close to 500 billion cubic feet of in-place reserves in block, proposed immediate relinquishment, its minority partner Hardy Oil and Gas of UK said on Wednesday. “The proposal sets out …

RIL to continue gas supply on existing terms as interim measure
10 years, 11 months ago

RIL to continue gas supply on existing terms as interim measure

The Hindu  

After a marathon day-long meeting in New Delhi on Monday, Reliance Industries Ltd and companies from the fertiliser industry agreed to continue their gas contracts on existing terms until a new agreement is negotiated.The existing Gas Sales Purchase Agreements that ended on Monday night provided for supply of gas by RIL at $4.20 per million British thermal unit and with …

CAG pulls up ONGC for hiring rig from RIL without bids
11 years, 7 months ago

CAG pulls up ONGC for hiring rig from RIL without bids

The Hindu  

The Comptroller and Auditor-General has pulled up Oil and Natural Gas Corporation Limited for hiring a rig from Reliance Industries Limited without bids, incurring an avoidable expenditure of Rs. In a report tabled in Parliament on Thursday, the CAG said ONGC hired ‘Actinia’ from the Mukesh Ambani-owned company for six months in 2009, pleading that it was urgently needed to …

CAG pulls up ONGC for hiring rig from RIL without bids
11 years, 7 months ago

CAG pulls up ONGC for hiring rig from RIL without bids

The Hindu  

State-owned Oil and Natural Gas Corporation has been pulled up by the Comptroller and Auditor General for hiring a drilling rig from Mukesh Ambani owned Reliance Industries Limited without bidding leading to an avoidable expenditure of Rs. In a report tabled in Parliament on Thursday, the CAG has said ONGC hired `Actinia’ rig from RIL for six months in 2009 …

KG-D6 dispute: move on to appoint arbitrator
12 years, 10 months ago

KG-D6 dispute: move on to appoint arbitrator

The Hindu  

The Petroleum and Natural Gas Ministry is understood to have approached the former Solicitor General, Gopal Subramanium, to act as arbitrator in the dispute with Reliance Industries Limited over the cost recovery issue in the KG-D6 block. It is learnt that Mr. Subramanium, who was the Solicitor General and was advising the government, during the gas dispute case between the …

Parl Panel Calls For Review Of All Contracts Of RIL KG-D6 Block
13 years, 3 months ago

Parl Panel Calls For Review Of All Contracts Of RIL KG-D6 Block

India TV News  

New Delhi, Dec 22: With gas production at Reliance Industries' KG-D6 block falling by more than one-third, a Parliamentary panel has called for review of all contracts and asked government to impose stringent provisions for failure to stick to committed work programme like drilling of wells. The Standing Committee on Petroleum and Natural Gas in its report tabled in Parliament …

CAG on RIL: CBI seeks Ministry's comments
13 years, 5 months ago

CAG on RIL: CBI seeks Ministry's comments

The Hindu  

In a move that could spell trouble for the Mukesh Ambani-owned Reliance Industries Limited, the Central Bureau of Investigation has sought the Petroleum Ministry's comments on the Comptroller and Auditor-General's report on a hydrocarbon production sharing contract. Highly-placed sources in the CBI on Monday said the CAG report was “very much on its radar” but it would wait for the …

Did Oil Ministry favour RIL?
13 years, 6 months ago

Did Oil Ministry favour RIL?

The Hindu  

The Comptroller and Auditor-General of India has charged the Petroleum and Natural Gas Ministry and the Directorate-General of Hydrocarbons of shelling out ‘undue benefits' to Mukesh Ambani owned Reliance Industries Ltd. for its blocks in KG basin. The CAG said the contractor was allowed to enter the second and third exploration phases of the blocks without giving up 25 per …

CAG indicts RIL, Oil Ministry for violations on KG D-6 contract
13 years, 6 months ago

CAG indicts RIL, Oil Ministry for violations on KG D-6 contract

The Hindu  

The Manmohan Singh government, currently under siege on the issue of corruption, came in for another strong indictment from the Comptroller and Auditor General of India which charged the Petroleum and Natural Gas Ministry and the Directorate General of Hydrocarbons of shelling out "undue benefits" to Mukesh-Ambani owned Reliance Industries Limited for its blocks in the KG basin. The CAG …

Reliance replies to CAG observations on KG-D6 gas field
13 years, 8 months ago

Reliance replies to CAG observations on KG-D6 gas field

The Hindu  

Reliance Industries as well as the oil ministry and sector regulator DGH on Tuesday gave detailed point-by-point reply to observations top auditor CAG had made in its draft report on the nation’s largest gas field, KG-D6. Sources said DGH disagreed with CAG assumption of adverse impact on government’s financial take from the project saying “cost for the purpose of computation …

CAG refutes ‘charge' that it did not consult RIL
13 years, 8 months ago

CAG refutes ‘charge' that it did not consult RIL

The Hindu  

The Comptroller and Auditor-General on Monday strongly refuted the charge that it did not consult private operators, including Reliance Industries Limited, before finalising its draft performance audit report on oil and gas production sharing contracts. Furthermore, the statement said, in the case of the performance audit of hydrocarbon PSC, interactive meetings were held with two operators, including RIL, prior to …

Consulted RIL before finalising draft KG-D6 report, says CAG
13 years, 8 months ago

Consulted RIL before finalising draft KG-D6 report, says CAG

Firstpost  

New Delhi: In a sharp rebuttal to the petroleum ministry’s contention that neither the ministry nor the private firm involved was allowed to lodge their opinions and views with the government auditor, the CAG today said it had consulted Reliance Industries Ltd before finalising the draft performance audit report on hydrocarbon production sharing contracts at its KG-D6 gas fields. The …

With CAG storm brewing for RIL, Jaipal meets Manmohan
13 years, 9 months ago

With CAG storm brewing for RIL, Jaipal meets Manmohan

The Hindu  

With the spectre of another 2G-like scam haunting the Manmohan Singh government, Petroleum and Natural Gas Minister Jaipal Reddy met the Prime Minister on Tuesday and is understood to have discussed the implications of the draft report of the Comptroller and Auditor General on the irregularities it has unearthed in the Krishna-Godavari basin gas operations of Reliance Industries Ltd. The …

Government to act against RIL for not adhering to gas plan
13 years, 9 months ago

Government to act against RIL for not adhering to gas plan

The Hindu  

With the Directorate-General of Hydrocarbons already probing the sudden decline in gas output from the KG-D6 fields operated by Reliance Industries Limited, the Petroleum and Natural Gas Ministry gets ready to take tough action against the Mukesh Ambani-owned company for not adhering to the Field Development Plan. The Management Committee comprising Petroleum Ministry and RIL officials have held three rounds …

CAG to begin audit of RIL accounts
15 years, 3 months ago

CAG to begin audit of RIL accounts

The Hindu  

With Reliance Industries Ltd. providing most of the papers relating to its KG basin gas fields, the Comptroller and Auditor General of India was ready to begin audit of expenses incurred by RIL in developing the fields, Minister of State for Petroleum and Natural Gas Jitin Prasada said. CAG would conduct audit of production sharing contracts for KG-D6 awarded to …

CAG to begin audit of RIL books
15 years, 4 months ago

CAG to begin audit of RIL books

The Hindu  

The Comptroller and Auditor General is likely to begin auditing of the accounts of KG Basin oil and gas fields of Mukesh Ambani-owned Reliance Industries Ltd. from this month. CAG has been asked to do special audit of not only RIL but also Cairn India’s Rajasthan block and British energy firm BG Group-operated Panna/Mukta and Tapti fields, sources in the …

RIL to drill three more wells in KG basin block
15 years, 5 months ago

RIL to drill three more wells in KG basin block

The Hindu  

Following the hammering of Mukesh Ambani-owned Reliance Industries’ stocks on the bourses on Friday, the company said it would drill three more wells in the Krishna-Godavari basin block where the exploratory well KG-D9-A1 was abandoned owing to poor gas find. “RIL remains committed to pursuing exploration campaign in,” the company said in a statement here after its stocks slid on …

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