GOVERNMENT DISALLOWS $ 264 MN COST TO RIL

The government has disallowed RIL and its partners from recovering the $264 million cost of developing KG-D6 fields for 2015/16 as the output from the field was short of the target. RIL and its two partners, BP and Niko, are engaged in an arbitration with the government over the amount that can be recovered as cost before profit is shared between them and the government.