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Q.

Will Reliance pay the fine of 6600 crores to the government chaged against the company for the steep fall in gas output from the KG-D6 block as promised and as needed by the agreement?

Easier said than done?

( http://url.ie/f94r )

Tags: money, careers, politics & government
Asked by Aarnika Tiwaari, 04 May '12 02:49 pm
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Answers (4)

 
1.

Reliance Industries had initiated arbitration in November last year in anticipation of financial penalties for falling gas output. But the oil ministry rubbished the arbitration notice, saying it had not taken any adverse action. The company had argued that the PSC allows it to recover its entire investment from the sale of gas, independent of the actual production.
The ministry has a different view. "You have also failed to take any steps and efforts to achieve the targets of gas production envisaged in the approved AIDP and have been interested only to recover your costs. You have been instructed time and again ... to adhere to the commitments in terms of the approved AIDP. However, you have till date failed to satisfactorily respond and perform its obligations in terms of Good International Petroleum Industry Practices," it said.

From this text in the news, and knowing that it is Jaipal Reddy at the helm of the Oil Ministry, it is appearent that the government may not let them ...more
Source: http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/reliance-industries-fined-rs-6600-crore-for-kg-d6-output-fall/articleshow/12981965.cms?curpg=1
Answered by Kuldeep S, 04 May '12 08:56 pm

 
  
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2.

Yes
Answered by ambuj kumar, 04 May '12 02:56 pm

 
  
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3.

No,dear.The senior Ambani is a seasoned business man n knows the art of getting his work done through politicians.He will settle his case with marginal payment to our corrupt system.
Answered by Damodar Biswal, 04 May '12 02:56 pm

 
  
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4.

There is valid technical reason for steep fall in production which also ascertained by the Oil Ministry. hence a fit case for waiver off
Answered by sushil trivedi, 04 May '12 02:52 pm

 
  
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