Oil Min slaps $250mn fine on Reliance Industries

The Petroleum Ministry has imposed a penalty of nearly $250 million on Reliance Industries as it was unable to meet natural gas production targets from the Krishna-Godavari D-6 block. This is to cover the government's loss of “profit petroleum”. The block's current production is around 8 million metric standard cubic metres per day (mmscmd), against the envisaged 80 mmscmd.

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