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 Ambani brothers, has been approached by the Petroleum and Natural Gas Minister, Jaipal Reddy, on the issue. The Petroleum Ministry had disallowed a cost recovery of $457 million for 2010-11 and $778 million for 2011-12 due to RIL's failure to meet drilling commitments. In a related development, the government is learnt to have zeroed down on the name of Rajiv Nayan Choubey, a 1981 batch IAS officer, for the post of full-time Director-General of Hydrocarbons.

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History of this topic

Delhi HC overturns arbitration award favouring Reliance in KG Basin dispute
1 month, 1 week ago

Delhi HC overturns arbitration award favouring Reliance in KG Basin dispute

The Hindu  

In a setback for Reliance Industries Limited, the Delhi High Court on Friday overturned a 2018 international arbitral award which favoured the Mukesh Ambani-led company and its foreign partners in a dispute over gas migration from fields operated by State-owned Oil and Natural Gas Corporation in the Krishna Godavari basin. Acting on an appeal filed by the Central government, Justice …

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 …

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 …

RIL to give up KG basin gas discovery block
10 years, 2 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 …

Reliance Industry Ltd setback to Oil Ministry: GAIL, CPCL refuse to comply with KG-D6 order
10 years, 7 months ago

Reliance Industry Ltd setback to Oil Ministry: GAIL, CPCL refuse to comply with KG-D6 order

India TV News  

New Delhi: In a setback to Oil Ministry, gas utility GAIL and refiner CPCL have expressed their inability to deduct USD 115 million from the amount due to Reliance Industries to make up for the additional profit petroleum from the flagging KG-D6 block. Oil Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from …

Cabinet nod sought to allow RIL to retain KG-D6 gas fields
10 years, 8 months ago

Cabinet nod sought to allow RIL to retain KG-D6 gas fields

The Hindu  

The Oil Ministry is seeking Cabinet nod to allow Reliance Industries to retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines. RIL has not been able to submit a development plan for D-29, 30 and 31 gas discoveries, which hold an estimated 345 billion cubic feet of reserves, with the prescribed …

KG basin gas: Govt. slaps further $579 mn fine on RIL
10 years, 8 months ago

KG basin gas: Govt. slaps further $579 mn fine on RIL

The Hindu  

The government has imposed an additional penalty of $579 million on Reliance Industries for producing less than the targeted natural gas from its KG-D6 block in 2013-14. Gas output from Dhirubhai-1 and 3 gas fields in the eastern offshore KG-D6 block was supposed to be 80 mmscmd but the actual production was only 35.33 mmscmd in 2011-12, 20.88 mmscmd in …

RIL, BP slap arbitration notice on Govt for gas price hike
10 years, 8 months ago

RIL, BP slap arbitration notice on Govt for gas price hike

The Hindu  

Reliance Industries and its partners BP plc of UK and Canada’s Niko Resources have slapped an arbitration notice on the government seeking implementation of a >delayed gas price rise. This arbitration notice wasn’t complete as the partners did not name their arbitrator as required for dispute resolution under the Production Sharing Contract, sources privy to the development said. The three …

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 …

Can't terminate RIL's KG-D6 gas contract on target issue: Moily tells PM
11 years ago

Can't terminate RIL's KG-D6 gas contract on target issue: Moily tells PM

Firstpost  

While the contract provides for termination in case of a default by a contractor, the Oil Ministry under S Jaipal Reddy in May 2012 had slapped penalty of $1.005 billion on RIL for failing to produce natural gas in line with the pre-stated targets. New Delhi: With AAP leader Arvind Kejriwal making the hike in gas prices an election issue, …

KG-D6: FinMin cautions Oil Ministry against dilution of arbitration case
11 years, 3 months ago

KG-D6: FinMin cautions Oil Ministry against dilution of arbitration case

The Hindu  

Clearing the decks for notification of the new gas pricing regime from April 2014, the Finance Ministry has given an interim approval to the Petroleum Ministry’s proposal to ask Mukesh Ambani-owned Reliance Industries Limited to furnish a bank guarantee in return for allowing it to raise gas prices to cover the liability in case gas hoarding charges are proved. "We …

Why delay ending RIL contract, Dasgupta asks PM
11 years, 5 months ago

Why delay ending RIL contract, Dasgupta asks PM

The Hindu  

Communist Party of India MP Gurudas Dasgupta on Friday urged Prime Minister, Manmohan Singh to direct the Petroleum Ministry to initiate proceedings against Reliance Industries Limited and its partners for termination of their contract for KG-D6 gasfields for ‘wilful default’ and violation of the production sharing contract. In a letter to the Prime Minister, Mr. Dasgupta reiterated that the Petroleum …

RIL may attract $781-million additional penalty
11 years, 6 months ago

RIL may attract $781-million additional penalty

The Hindu  

The Petroleum and Natural Gas Ministry has sought the opinion of the Law and Justice Ministry for imposition of an additional $781 million penalty on Reliance Industries Limited for the shortfall in gas production in the KD D6 block during 2012-13. Following disallowing of cost recovery by the Directorate General of Hydrcarbons to the tune of $781 million for 2012-13, …

RIL in fresh trouble as CAG questions Ministry on gas price hike
11 years, 6 months ago

RIL in fresh trouble as CAG questions Ministry on gas price hike

The Hindu  

The Mukesh Ambani-owned Reliance Industries Limited is in for more trouble as the Comptroller and Auditor-General has questioned the Petroleum and Natural Gas Ministry over the recent gas price increase and wanted to know the steps taken to ensure that the operator delivers gas at $4.2 mbtu as per the approved production plan. In view of the shortfall in gas …

Government to go ahead with arbitration proceedings against RIL in KG D6 block
11 years, 8 months ago

Government to go ahead with arbitration proceedings against RIL in KG D6 block

The Hindu  

The Petroleum and Natural Gas Ministry has asserted that the arbitration dispute with Reliance Industries Limited pertaining to the cost recovery issue in the KG-D6 field will be taken to the logical conclusion. The government had, in May last year, disallowed $1.5 billion cost recovery expense of RIL for the KG-D6 gas fields for not implementing the approved field development …

Reliance Ind told to appoint new arbitrator for KG-D6 dispute
12 years ago

Reliance Ind told to appoint new arbitrator for KG-D6 dispute

The Hindu  

The Petroleum and Natural Gas Ministry is understood to have asked Reliance Industries Limited to appoint a new arbitrator for the KG-D6 block dispute with the Ministry, after a disclosure made by current arbitrator Justice D.M. Highly placed sources in the Petroleum and Natural Gas Ministry said the decision was taken after detailed discussions with the Directorate General of Hydrocarbons. …

Govt rebuts allegations of favouritism towards RIL
12 years, 4 months ago

Govt rebuts allegations of favouritism towards RIL

The Hindu  

The government on Thursday strongly rebutted allegations of it showing favouritism towards Reliance Industries, saying decisions were taken objectively without fear or favour and that it had way back in 2010 rejected the company’s demand for a revision in gas price. Terming allegations levelled by India Against Corruption as “baseless and frivolous, the Oil Ministry in a six-page statement said …

KG-D6 block: Centre moves ahead with appointing arbitrator
12 years, 10 months ago

KG-D6 block: Centre moves ahead with appointing arbitrator

The Hindu  

Refusing to buy the argument by Reliance Industries on the KG-D6 block cost recovery issue, the Petroleum and Natural Gas Ministry has directed the Directorate-General of Hydrocarbons to take necessary action as per the notice served on RIL and ensure compliance of directives given to the contractors in the said notice. At the same time, the Ministry has instructed the …

RIL hits back at Oil Ministry over $1-billion penalty
12 years, 10 months ago

RIL hits back at Oil Ministry over $1-billion penalty

The Hindu  

Smacked by a hefty penalty of over $1 billion for its failure to meet gas output targets, Reliance Industries on Friday hit back at the Oil Ministry saying there was no provision in the contract to disallow any part of its investment in KG-D6 fields in Bay of Bengal. Stating that the company had on May 2, 2012 received a …

Oil Ministry refers BP-RIL deal to Cabinet
13 years, 8 months ago

Oil Ministry refers BP-RIL deal to Cabinet

The Hindu  

The Union Petroleum and Natural Gas Ministry has decided to refer the $7.2-billion deal of Britain's BP buying 30 per cent stake in Mukesh Ambani-owned Reliance Industries Ltd.'s oil and gas blocks to the Cabinet Committee on Economic Affairs for final approval. The deal involves RIL selling 30 per cent interest to BP in 23 exploration blocks, including eastern offshore …

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 …

Ministry to support NTPC in KG gas row
15 years, 7 months ago

Ministry to support NTPC in KG gas row

The Hindu  

In a turnaround of sorts giving a new twist to the ongoing battle over the KG basin gas, the Petroleum and Natural Gas Ministry on Wednesday decided to support the state-run NTPC in its legal battle against Mukesh Ambani-owned Reliance Industries Limited for fulfilling the commitment to supply natural gas at the 2004 price for its Kawas and Gandhar power …

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