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.
‘RIL charged more than approved price’
RECENT STORIES
Finance Ministry Propels Historic Merger: Three Public Sector General Insurers To Fuse Into One...
Renewable Gas Worth ₹270 Crore Per Year Can Be Produced By Paddy Straw Burned By Farmers: Biogas...
Rolls-Royce Breaks Government Grip: Private Power Systems Demand To Lead India By 2026-27
Aurobindo Pharma Hit By Million Dollar Loss At China-Based Facility, Knocks Back With Growth...
Flexible Packaging & Solutions Maker UFlex Pours ₹ 700 Crore To Expand Manufacturing Line In...