RIL awaits Niko Resources' exit from KG-D6 gas block over default

21 Jan 2019

Reliance Industries (RIL) has asked Niko Resources to exit from eastern offshore KG-D6 gas block over default in payments for field development cost, but Niko Resources has sought to stall the move by invoking arbitration. Niko Resources has failed in seeking a possible buyer for its 10% stake in Bay of Bengal block KG-D6.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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