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
Indian Railways Crosses 1 Billion Tonnes Freight Loading; Coal, Cement & Steel Drive Growth,...
Foreign Institutional Investors Sell Net Shares Worth ₹4,238 Crore In November, Activity Sees No...
India Pegs 2022-23 As New Base Year, Poised For Statistical Overhaul, Government Set To Update GDP...
Gold & Silver Prices See Intense Volatility, US Federal Reserve Rate Cut Expectations Fade
Union Minister of Commerce Piyush Goyal Strengthens India’s Partnership With Israel, Expanding...