Showing posts with label AP SHAH COMMISSION RIL ONGC KG BASIN. Show all posts
Showing posts with label AP SHAH COMMISSION RIL ONGC KG BASIN. Show all posts

Wednesday, August 31, 2016

ONGC's GAS DIVERSION : BIG BLOW TO RIL's CREDIBILITY, BUSINESS ETHICS

Justice A P Shah commission confirmed that there was a migration of gas from state-run ONGC's block in Krishna Godavari basin to the adjacent fields owned by Mukesh Ambani-led Reliance Industries.

The one-man panel's report stands close to the findings of the report submitted by the US-based consultant DeGolyer and MacNaughton (D&M) in November 2015, which stated that about 11.122 billion cubic meters of natural gas worth about Rs 11,000 crore had migrated to the RIL fields from ONGC's idle fields.

The findings are a big blow to RIL's credibility and business ethics.