Reliance Gas Dispute Ril Remains Unscathed-66814

Business Controversies have surrounded KG D6 gas, but RIL downplayed all: Reliance Industries operated KG-DWN-98/3 gas field, also known as KG D6 has run into controversies immediately after the major gas find in 2002. Whether it is the quantum of the discovery, capital expenditure for the development, legal tussle with NTPC over the contractual obligation or the Memorandum of Understanding (MOU) signed with Reliance Natural Resources (RNRL) for supplying 28 mmscmd gas, Reliance has witnessed numerous allegations. RIL, however, has proven these accusations erroneous time and again. RIL had estimated the reserves of KG D6 block to the tune of 14 trillion cubic feet (tcf), which was downplayed by many to the maximum of 5-6 tcf. Today, with limited number of wells drilled, the .mercially recoverable reserves are approved at 11.3 tcf by the Government. The in-place reserves are estimated to the extent of 40 tcf by various analysts. Similarly, the capital expenditure of $8.8 billion was said to be escalated. The Government, however, itself came forward in defense of the accusation arguing that the reserve estimates along with peak production level has doubled since the initial development plan resulting in increased capital cost due to three-fold rise in .modity prices, equipment prices, rig charges and engineering cost. As far as NTPC issue is concern, RIL has made it clear that disagreement with NTPC is not on the price of $2.34 per mmbtu but on unlimited liability clause which coerces the RIL to pay for entire cost of substitute fuel in case of gas supply failure even in case of force-majeure by the .pany. RIL only wants the penalty charges to be capped that too as low as half of what is applicable for NTPC in case of its inability to off-take the gas, which may force the RIL to flare a sizable amount of precious gas. Even in case of RNRL, RIL agrees to supply the said quantity of gas at agreed price provided the Government consents on price and marketing freedom. In fact, RIL tried to get the Government certification for price of gas to be supplied to RNRL, however, the latter rejected the same, stating that the price did not match the arms-length criteria of pricing as per the Production Sharing Contract (PSC). In spite of all this, RIL remains impervious. With KG gas flowing in, the gas-based power generation across the country has registered a healthy turnaround. A look at the region-wise operation efficiencies shows that the plants in south India had a PLF of over 71 per cent during April-October this year, as against 50.05 per cent year-on-year. The corresponding figures for the western region were 63 per cent and 57 per cent, while for the north it was 74 per cent versus 64 per cent. About the Author: By: PRP – Unique North Texas film set turns into an interactive walk through theatre stage. 100 Actors Provide a "Living History" experience to guests as they step right into the scenes to be.e a "fly on the wall"; DFW Area Easter Celebration at Capernaum First Century Village and Majestic Statue Garden … By: Michel Jordan – Author is a reputed insurance agent and has been helping lots of musicians to find the right insurance plan. He also works with the clients from different segments and countries in the music industry. By: Johnson Charlse – Author is a reputed insurance agent and has been helping lots of musicians to find the right insurance plan. He also works with the clients from different segments and countries in the music industry. By: Kain Black – Our online store offers the best walnut price.Nut-Ex invites for cooperation everyone who wants to buy walnuts wholesale. We test the quality of nuts. Our .petitive walnut price will fit any budget. By: Chintan Shah – Reliance Industries will pay INR 3,401 croresto shareholders and promoters in interim dividend. By: Chintan Shah – Nita Ambani, Founder and Director of Reliance Foundation, is planning to set up a museum in Mumbai. By: Anand Kumar – Fiinovation believes that industry participation and government support at the grass root level can make the smart grid technology affordable and accessible in the long run. By: vikram kumar – Flyers also .monly referred to as brochures are the most .mon forms of advertisement. Flyers have been used since times unknown for the propagation of business By: PRP – Developers, Power Users and IT Pros Can Learn How to Better Leverage New Features and Avoid Deployment Mishaps – and Even How Scientists in Antarctica Are Using SharePoint to Manage Mission-Critical Content By: PRP – Leading Sydney based luxury bathroom renovations .pany Aussie Bathroom Renovations expects the strong growth in orders they are experiencing in recent months to continue. The continued buoyancy in migration and the falling house auction clearance rate seeing more homeowners upgrading in prefer … 相关的主题文章: