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Oil Ministry May Disallow RIL to Recover $1.2 BN in KG-D6 Cost

  • Speaking to Bloomberg UTV, sources said that the oil ministry will send a notice to the company on the same, in next two weeks.The ministry said that the company did not adhere to the field development plan. “RIL has not only failed to arrest declining output at KG-D6, but has also failed to provide reasonable justification for production fall,” oil ministry added.The output from KG-D6 has declined to below 39 mmscmd from target of 80 mmscmd. At 12:40 p.m., RIL’s stock was trading at Rs 821.55, down 0.85% on the BSE.

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