Friday, December 6, 2013

KG-D6 dispute timeline

In case, a link went dead, you can easily search using the news headline text. 
  • April 12, 2000 – RIL signs the PSC with government to develop the KG-D6 basin. (Link)
  • Nov 1, 2006 – RIL files amended development plan for KG-D6 with DGH. Production rate to be enhanced to 80 mmcmd from 40 mmcmd. (Link)
  • Sept 21, 2008 – RIL has commenced production of hydrocarbons in its KG D6 block of KG basin with crude oil production on Sept 17, 2008. (Link)
  • April 1, 2009 – RIL starts natural gas production from KG-D6 fields. (Link)
  • Oct 29, 2009 – Production ramped up to about 40 mmscmd. (Link)
  • Jan 22, 2010 – Production ramped up to about 60 mmscmd. (Link)
  • Feb 21, 2011 – RIL-BP deal announced. (Link)
  • June 2011 – CAG report leaked in the media. (Link)
  • October 2011 – RIL asks for explanation from ministry preventing cost recovery. (Link)
  • November 2011 – RIL seeks arbitration on the matter. (Link)
  • April 17, 2012 – RIL and Niko petitioned the Supreme Court asking that the Govt. should nominate an arbitrator. (Link)
  • May 3, 2012 – Govt. asked RIL to refund $1.25 bn in production costs. (Link)
  • May 30, 2012 – Govt constitutes Rangarajan Committee to resolve gas pricing, profit sharing issues. Committee to submit report by Aug 30, 2012. (Link)
  • June 21, 2012 – Niko announced Indian govt. is considering increase in KG-D6 gas prices. (Link)
  • Jan 2, 2013 – Rangarajan committee recommends average global prices for domestic gas. (Link)
  • Jan 7, 2013 – CAG to begin its audit on Jan 9. (Link)
  • Jan 14, 2013 - Gas output from RIL's KG-D6 fields drops to 22 mmscmd. (Link)
  • Jan 21, 2013 - Government wants to resolve RIL row over KG-D6 block via talks: Veerappa Moily (Link)
  • Jan 22, 2013 - Gas output from RIL's KG-D6 fields drops to all time low of 20 mmscmd. (Link)
  • Jan 23, 2013 - Expected gas price revision is unlikely to benefit Reliance Industries. The clauses in the Cabinet note will not make RIL eligible for any price hike before April 2014. (Link)
  • Feb 4, 2013 - DGH refused to issue approval letters for the block's work plans and budget since 2010-11. (Link)
  • Mar 5, 2013 - Natural gas supplies to power plants has completely stopped after output from the eastern offshore fields dropped to an all-time low of 17.3 mmscmd. (Link)
  • Apr 11, 2013 - RIL has shut its ninth well at the main gas fields in the KG-D6 block, leading to output plummeting to an all-time low of 15.5 mmscmd. (Link)
  • May 11, 2013 - RIL announced a major gas find more than 4 kms below the sea bed and 2 kms directly underneath the currently producing D1&D3 field in the KG-D6 block off the east coast. (Link)
  • June 16, 2013 - In a relief to RIL, Oil Minister has indicated that he may not fully accept DGH's recommendation for taking away 86% of the company's KG-D6 gas block area. (Link)
  • July 19, 2013 - The government has given the go-ahead for RIL’s $1.5 billion field development programme for the KG-D6 block. (Link)
  • July 22, 2013 - RIL plans to invest $6.5 billion in its KG-D6 gas fields to re-attain natural gas production of up to 60 mmscmd by 2019-20 and regain the lost glory of the prolific block. (Link)
  • Aug 7, 2013 - DGH has recommended additional penalty of $781 million (taking the total to $1.786 bn) on RIL for producing less than projected natural gas. (Link)
  • Aug 15, 2013 - RIL plans to invest $3.18 billion in R-Series gas field to produce 13-15 mmscmd of gas for 13 years from the D-34 (Dhirubhai-34) discovery in the KG-DWN-98/3 or KG-D6 block. (Link)
  • Aug 22, 2013 - 12 power plants solely dependent on KG-D6 gas lying idle. (Link)
  • Aug 22, 2013 - ONGC may share KG-D6 infrastructure. (Link)
  • Sept 03, 2013 - Government not honouring contracts on KG-D6 gas block, says Reliance. (Link)
  • Sept 15, 2013 - Reliance Industries slams oil regulator's move to snatch KG-D6 area.(Link)
  • Sept 25, 2013 - If you find more gas in KG-D6, keep it: Angry RIL to govt.(Link)
  • Sept 25, 2013 - Govt may hire consultant to end KG-D6 gas row with RIL.(Link)
  • Oct 13, 2013 - RIL trashes expert report on KG-D6 output fall.(Link)
  • Oct 18, 2013 - RIL, BP to invest up to $10 bn in KG-D6 block: Moily.(Link)
  • Oct 22, 2013 - Govt says no to fresh evaluation of whether RIL hoarded KG-D6 gas.(Link)
  • Oct 29, 2013 - Oil ministry to ask RIL to surrender 5 KG-D6 gas finds.(Link)
  • Nov 12, 2013 - Reliance Industries to furnish bank guarantee (Link)
  • Nov 17, 2013 - Non-adherance to KG-D6 plan be taken as default: Panel (Link)
  • Nov 18, 2013 - RIL plans to increase KG-D6 gas output (Link)
  • Nov 21, 2013 - Govt disallows another $792 mn RIL investment in KG-D6 block (Link)
  • Nov 26, 2013 - Reliance Industries' new gas discovery likely biggest ever (Link)
  • Nov 26, 2013 - No going back on gas price hikes; notification soon: Moily (Link)
  • Nov 27, 2013 - KG output drops to record low (Link)
  • Dec 5, 2013 - Reliance Industries's KG-D6 output slips to 10 mmscmd (Link)

1 comment:

  1. Crude Oil March and Brent Oil April series have advanced almost a percent each at $ 54 and $ 56 per barrel, respectively.
    Natural Gas April expiry is quoted at $ 2.720 - up 0.4 percent.
    MCX Crude Oil tips

    ReplyDelete