Row Rages on as India Gas Output Plunges

摘要

The row over flagging production from India's main gas field became more heated this month, when the oil ministry served notice on Reliance Industries that it would not be allowed to recoup $579 million spent developing the KG-D6 gas block in the Bay of Bengal after output plunged in June to just 10% of the volumes forecast back in 2006. It was the fourth consecutive annual fine imposed on India's biggest private sector firm for failing to meet output targets, and brings total penalties to $2.38 billion.