The RIL has committed enough and glaring willful improprieties in the execution of its KG-D6 contract that the Narendra Modi government has sufficient grounds to terminate its contract and allow any other company or the government-owned Oil and Natural Gas Corporation (ONGC) to produce gas from these fields.
The Reliance has created an artificial shortage of natural gas in this country by bringing down the production from KG-D6 fields to below 10%, with the sole aim of forcing the government to import it at a very high price. Infact this company has deliberately kept its production much below the target since 2010-11. Read More
Remember the coal mine allocation scam? It was sparked off because a multi-edition national newspaper chose to make public a CAG ‘pre-final’ report on the allocation on its front page. There was a veritable public outcry, and other media houses entered the race to scoop each other out.
There’s this other matter of detail to consider: the newspaper that first featured the coal mine allocation scam had reported some of the CAG’s disclosures on the RIL-government collusion nearly three weeks before the lawyers held their press conference, that is, on May 29 and May 30. But this scoop the newspaper consigned it to its inside pages. Though it is the editor’s prerogative to weigh the relative importance of stories and decide on their slots, there is undoubtedly a sharp discrepancy in that newspaper’s treatment of the coal scam and CAG’s indictment of RIL. Read More
According to reports coming out in newspapers, your government is preparing to shortly increase the prices of natural gas. We had apprehended earlier only that after the elections the prices of natural gas will be doubled. We sincerely request you not to hike gas prices which will only benefit Mr. Mukesh Ambani and the people will be further burdened by rising prices.
Through this letter I am bringing some facts to your notice, which state that actually the prices of natural gas in India need to be reduced rather than increasing them.
Today you purchase a unit of gas from Reliance for $ 4.205. The RIL spends less than a dollar on production of one unit of gas. That means the RIL is reaping a profit of more than 325 per cent. The facts below prove that the RIL actually spends less than a dollar on excavation of a unit of gas: Read More
The CAG has now exposed how Reliance, in collusion with the Central Government, siphoned off money from KG basin, misled the country, looted natural gas, violated all its contractual commitments and caused serious damage to national interests.
The CAG has brought out that Reliance, acting as a rogue operator, held the country to ransom, while the Government not only did not impose any penalty, but instead kept on giving into its wishes.
CAG has found the following:
1) Reliance hugely overestimated the reserves
2) Reliance hugely increased its capital expenditure, which is cost recoverable
3) Most of the procurement made was over-invoiced
4) Reliance miserably failed to adhere to its production commitments
5) Reliance did not relinquish its fields as required by the contract
6) Reliance did not pay the full profit petroleum to the Government
A proposed doubling of natural gas prices is now expected to force the government's hand. Gas accounts for four-fifths of the cost of making urea, a nitrogenous fertilizer that consumes more than half of India's $11 billion annual fertilizer subsidy bill.
"The gas price rise is making the urea price hike a compulsion. The government has no choice. We are expecting a decision before the budget or in the budget," said a senior official with a state-run fertilizer company. Read More
Current Union minister Prakash Javedkar, national spokesperson of BJP, back in June 2013 said this on gas price hike issue: "Twin factors of depreciating rupee & govt's decision to double natural gas prices will hit the common man the most"! However, after election, BJP government does exactly the same hike as UPA! So, what about common man now? Read More
Recently, some articles have started appearing in the leading newspapers in support of higher price and thus,supporting Reliance and Government of India.
One article was published in The Indian Express on 15/02/2014 authored by Mr.Vikram S.Mehta—Fuelled by Ignorance—The AAP led debat Read More