<p>Reliance Industries Limited (RIL), a Mukesh Ambani owned energy enterprise, has submitted its reply to the Comptroller and Audit General (CAG), following CAG’s allegation that points towards violation of constitutional mandate and unwarranted increase in capital expenditure by the energy giant.</p> <p>CAG had put under the scanner the Krishna – Godavari (KG D6) basin exploration […]
Oil Ministry refutes CAG allegation on offering financial benefits to private operators
<P>In a steaming issue between oil ministry and Comptroller and Audit General (CAG) body, the ministry has taken a stand and claimed that it as abided by all provisional mandates in dealing with private operators, and that its suggestion of revision of development plans is in the best interest of the sector.</P> <P>CAG had raised […]
Reliance Industries invalidates CAG allegation on KG D6 gas field
<p>Mukesh Ambani led Reliance Industries Limited (RIL), after being hectored by Comptroller and Audit General (CAG) body over gold plating of capital expenditure of RIL’s prolific Krishna – Godavari (KG D6) gas basin, has refuted all such allegation mentioned in CAG audit report.</p> <p>In its reply to the audit draft, RIL has stated that the […]
RIL, DGH meet CAG officials over KG-D6 basin matter
<p>Representatives from the Reliance Industries Limited (RIL), led by its executive director PMS Prasad, along with Directorate General of Hydrocarbons (DGH) and oil ministry officials, met with the Comptroller and Audit General (CAG) body in the exit conference held on Tuesday. This conference was held to review and discuss on the audit report submitted by […]
RIL hints corporate enmity led to CAG allegations
<p>In its reply to the ill-famed Comptroller and Audit General (CAG) audit report to the oil ministry, Reliance Industries Limited (RIL), a Mukesh Ambani owned conglomerate, has stated corporate rivalry as one significant factor that insinuated CAG to red mark RIL’s cost expenditure and put KG D6 basin under scanner in its audit report.</p> <p>RIL […]
RIL-BP deal: Growing valuation of private energy enterprises
The highly heralded $ 7.2 billion deal between Mukesh Ambani owned Reliance Industries Limited (RIL) and London based BP p.l.c is set to get the cabinet approval, allowing BP a 30 per cent stake in 23 oil and gas blocks of RIL, including RIL’s gas producing KG D6 block – one of nation’s biggest gas […]
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