Better days to come. I am prepared. Are you?
For last 2 months, I am paying about 3000/- pm (units due to AC excluded)
8000 Cr is to be compensated to Discoms by increasing tarrif. Logically, I expect my bill to be somewhere above 5000/- pm within 3-4 months.
I am prepared to sacrifice for batter days. Are you? more
In May 2014, ONGC alleged that Reliance was illegally extracting gas from blocks owned by ONGC in Krishna Godavari Basin.
“In view of the contractual provision under the PSC, the government will not be able to terminate the contract on account of shortfall in production as the matter is pending before the arbitral tribunal,” - said the then Oil Minister M Veerappa Moily.
The production sharing contract (PSC) does not have any explicit provision for penalties in case of default. A contract can only be terminated in case of a default.
Justifying the reasons behind raising prices from April, Moily said several gas fields of both RIL and state-owned Oil and Natural Gas Corp (ONGC) were economically unviable to produce at current rate of USD 4.2 per million British thermal unit. more