Niko Resources Ltd

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  Reliance, BP To Invest Rs 40,000 Crore More In Offshore Gasfield

  Reliance holds a 60 percent stake in a gas block in the Krishna Godavari (KG) basin, BP owns 30 percent while Calgary-based Niko Resources Ltd holds the rest.

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  Reliance Industries Partners Consider Joining Arbitration In $1.55 Billion Gas Row

  Calgary-based Niko Resources Ltd, which holds a 10 per cent interest in Reliance Industries-operated KG-DWN-98/3 or KG-D6 block, said the partners believe they are "not liable for the amount claimed by the Government of India".

• Niko Extends Time to Sell Stake in Reliance Industries Block

  Canada's Niko Resources has extended by over three months the search for a buyer of its stake in Reliance Industries' KG-D6 gas block to pay off debt.

• GAIL to Pay Royalty on Reliance Industries Gas Price: Report

  State-owned GAIL India Ltd has been asked to pay royalty on the $1.41 per unit it is collecting on natural gas produced from Reliance Industries Ltds eastern offshore KG-D6 fields.

• Oil Ministry May Dip Into Reliance Industries Incremental Gas Price Hike Revenue Account

  The government may dip into Reliance Industries Ltds incremental gas price hike revenue, accruing in a pool account, to recover its dues in the wake of the contractor failing to meet certain KG-D6 output targets.

• Investment Decision Only After Clarity on Gas Price: Reliance Industries

  Reliance Industries Ltd (RIL) has said it will make a final investment decision on producing gas from the R-Cluster discovery in the flagging KG-D6 block only after the government decides on gas price hike.

• GAIL, Chennai Petroleum Refuse to Comply With KG-D6 Order: Report

  In a setback to the Oil Ministry, gas utility GAIL India Ltd and refiner Chennai Petroleum Corp Ltd (CPCL) have expressed their inability to deduct $115 million from the amount due to Reliance Industries to make up for the additional profit petroleum from the flagging KG-D6 block.

• Reliance Industries Shared All Correspondence With Oil Ministry, Technical Arm: Report

  Reliance Industries Ltd (RIL) had shared all the copies of its correspondence with the Supreme Court-appointed tribunal on the KG-D6 cost recovery issue to the Oil Ministry and the Directorate General of Hydrocarbons (DGH), according to sources.

• Reliance Industries Tells Buyers New Gas Rates to Apply From April: Report

  In a terse one-page letter to urea manufacturing plants, Reliance Industries said it was supplying about 12.5 million standard cubic meters per day of gas since April 1 at provisional price of $4.205 per million British thermal unit, and will charge them the difference between this and the new rate as and when it is approved by the government.

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  Reliance, Partners Take Government to Arbitration Over Gas Pricing

  Reliance Industries Ltd and its partners in a gas block, BP Plc and NIKO Resources, said on Saturday they would take India's government to arbitration over delays in deciding gas prices.

• Reliance Industries fined additional $792 million for failing production target: report

  With this, a total of $1.797 billion penalty in form of cost being disallowed, has been levied on RIL for producing less than targeted output during the past three years.

• ONGC Videsh, Cairn to jointly bid for Sri Lankan blocks: report

  ONGC Videsh Ltd (OVL), the overseas arm of state-owned firm Oil and Natural Gas Corp (ONGC), and Cairn India Ltd are likely to bid jointly for oil and gas blocks in Sri Lanka, according to sources with direct knowledge of the development.

• Government asks Reliance Industries to surrender 81 per cent of KG-D6 gas block

  The government on Wednesday asked Mukesh Ambani-led Reliance Industries Ltd (RIL) to give up 81 per cent of its KG-D6 gas block, including five discoveries, as the time allocated for producing from them had expired.

• Reliance to give up about 56% of KG-D6 block

  In an investor presentation after announcing the January-March quarter financial results, RIL said a "proposal for relinquishment of low prospectivity area (has been) submitted" to the government.