Tag Archives: $1.55

Reliance Industries Partners Consider Joining Arbitration In $1.55 Billion Gas Row

New Delhi: Reliance Industries’ partners are considering joining the arbitration that the Mukesh Ambani-run firm is planning to initiate against the government for slapping a $1.55 billion demand for “unfairly enriching” by producing natural gas belonging to Oil and Natural Gas Corporation (ONGC). Calgary-based Niko Resources Ltd, which holds a 10 per cent interest in Reliance Industries-operated KG-DWN-98/3 or KG-D6 ... Read More »

Penalty Of $1.55 Billion On Reliance Industries Exaggerated: Brokerages

New Delhi: A penalty of $1.55 billion slapped by the government on Reliance Industries for producing Oil and Natural Gas Corporation’s natural gas is “grossly exaggerated”, brokerage firms said on Monday. Citi Research said it had expected that Reliance Industries’ liability should be limited to the net cumulative EBIT earned by it from the disputed volumes, which it had estimated ... Read More »