- Government has imposed penalty on Reliance Industries of Rs.3475 crore for producing less than targeted natural gas its KG-D6 block in 2013-14
- The actual production was only 35.33 mmscmd in 2011-12, 20.88 mmscmd in 2012-13 and 9.77 mmscmd in 2013-14 and this year output is 8.05 mmscmd so far but the target was 80 mmscmd (million metric standard cubic meters per day)
- Reliance Industries for missing the target in four financial years, beginning April 1, 2010 all put together is $ 2.376 billion
- Production Sharing Contract (PSC) allows to cut all capital and operating expenses from the sale of gas before sharing profit with the government and penalty is in the form of disallowing costs incurred
- Read at: http://www.thehindu.com/todays-paper/kg-basin-gas-govt-slaps-further-579-m-fine-on-ril/article6210852.ece