Govt slaps $579 mn additional penalty on RIL

New Delhi: The government has slapped an additional penalty of USD 579 million on Reliance Industries for producing less than targeted natural gas from its KG-D6 block, Oil Minister Dharmendra Pradhan said on Monday.With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at […]

FM hints at subsidised gas rates for power, fertiliser units

New Delhi: A day after deciding to nearly double natural gas prices to USD 8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down. Stoutly defending the move to raise price from current USD 4.2 per million British thermal […]