RIL rejects report of govt demanding $30 billon over gas underproduction, calls it factually incorrect 

Reliance Industries Limited (RIL) on December 29 strongly refuted media reports claiming that the Government of India has sought $30 billion from Reliance Industries and its partner BP over alleged underproduction from the KG-D6 gas block, calling the claims “factually incorrect” and “irresponsible”. 

In a media statement issued on December 29, Reliance said there is no $30 billion claim against the company or BP. It clarified that the government’s claim related to the KG-D6 block is approximately $247 million, a figure that has been consistently and appropriately disclosed in the company’s annual audited financial statements in line with regulatory disclosure requirements . 

“The publication of a report such as this based on unnamed and unidentified sources is inappropriate and irresponsible,” the company said, taking strong exception to what it described as mischaracterisation of facts. 

Reliance added that the matters referred to in the report are sub judice and will be decided by the country’s judicial system, in which the company has full faith. It emphasised that Reliance Industries and BP have at all times complied with their contractual and legal obligations. 

The clarification comes in response to a report titled “India claims $30 billion from Reliance Industries, BP for underproduction from gas field, sources say”, which had triggered widespread attention. 

Reliance reiterated its commitment to transparency and compliance, and underlined that all relevant disclosures related to the KG-D6 block have already been made through audited financial filings.