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Govt seeks $2.81 bn from RIL, partners
March 05, 2025
|The New Indian Express Tiruchy
THE government has demanded $2.81 billion from Reliance Industries Limited (RIL) and its partners, BP Exploration and NIKO, over the alleged migration of gas from Oil and Natural Gas Corporation (ONGC) the blocks to RIL's KG-D6 block.
The petroleum ministry claims natural gas migrated from ONGC blocks to RIL's KG-D6 block in the Krishna Godavari basin, and that Reliance Industries subsequently extracted gas that rightfully belonged to ONGC.
This demand comes after the Delhi High Court Bench reversed a prior arbitration award that had favoured Reliance Industries.
In an exchange filing, Reliance Industries confirmed that the Ministry of Petroleum and Natural Gas had sent the demand notice to RIL and its partners for $2.81 billion, and stated its intention to challenge the notice.
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