‘RIL charged more than approved price’

FPJ BureauUpdated: Saturday, June 01, 2019, 12:11 PM IST
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New Delhi: The Comptroller and Auditor General of India (CAG) has pulled up Reliance Industries for charging a rate in excess of the government approved price for its KG-D6 gas field and not including the marketing margin for calculating royalties and government’s share. The Centre had in October 2007 set a sale price of USD 4.20 per million British thermal unit based on the price discovered by RIL from key customers. The CAG in a draft report of audit of RIL’s eastern offshore KG-D6 block spendings stated that the company charged USD 4.205 per mmBtu from consumers, leading to excess billing of USD 9.68 million.

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