Niko Resources

RIL to increase KG-D6 gas production to reverse falling output trend

Production at KG-D6 has dropped to just about 12 mmscmd and MA-8 will help reverse the falling trend of last three years.

RIL, BP, Niko to give $1.2 bn bank guarantee over 3 yrs for higher gas price

The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main Dhirubhai-1 and 3 (D1 & D3) fields.

CCEA allows RIL to double gas price, asks for bank guarantee clause

Prices of natural gas, which is an input to manufacturing fertiliser and electricity generation, will be revised every quarter based on the average of the past four quarters, with a gap of one quarter.

RIL, BP shut seventh well at KG-D6 due to sand, water ingress

Reliance Industries and its partner BP have shut a seventh well in the D6 block off the Andhra coast due to sand and water ingress, bringing down the number of producing wells to 11.

Niko to relinquish stake in D4 block in India

The company said this decision was the result of the current geological assessment related to the size and risk of the trapping mechanism.

Government unlikely to implement gas price hike retrospectively

The government may not implement the delayed increase in price of natural gas with retrospective effect as it would be difficult to back charge higher bills from power and CNG consumers, an official said.