Menu
Inshorts
For the best experience use inshorts app on your smartphone
inshortsinshorts
Oil Min slaps $250mn fine on Reliance Industries
short by Mansha Mahajan / on Tuesday, 16 August, 2016
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.