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Government slaps $380 million additional penalty on Reliance Industries

19 Aug 2016 Evaluate

The Centre government has imposed an additional penalty of $380 million (around Rs 2,500 crore) on Reliance Industries (RIL) and its partners for producing less than targeted natural gas from eastern offshore KG-D6 fields for 2014-15. This is the fifth penalty in as many years that the government has imposed on the operators of the KG Basin gas field, in form of disallowing recovery of cost incurred, for missing the production target since April 2010. The accumulated penalty now stands at a $2.76 billion.

RIL is an India-based private sector company, with business in energy and materials value chain and in retail and digital services. The Company operates in four segments: refining, petrochemicals, oil & gas and organized retail. The refining segment includes production and marketing operations of the petroleum products. The organized retail segment includes organized retail business. It also has operations in the textile, SEZ development, telecom/broadband business and media sectors.

Reliance Industries Share Price

1435.70 0.00 (0.00%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1435.70
Indian Oil Corp. 144.70
BPCL 302.85
HPCL 387.00
MRPL 167.90
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