On Monday, Reliance Industries Ltd. (RIL) denied a media story that said the government had sought $30 billion from BP and the firm because of underproduction at the KG D6 gas field.
RIL Denies $30 Billion Claim
“The release of a study such as kind based on nameless and unidentified sources is improper and irresponsible,” RIL said in a statement.
“There is NO claim of $30 billion against Reliance and BP,” RIL continued. The Government of India’s claim on KG D6 Block is about $247 million, which has been regularly and adequately declared in the company’s yearly audited financial statements in compliance with its disclosure requirements.
Legal Compliance and Sub Judice Matters
Additionally, it said that the issues mentioned in the report are “completely sub judice and will be decided in line with the laws of the nation by its legal system, in which Reliance has full trust.”
The business went on, “Reliance Industries Limited, along with its partner BP, has at all times complied with its contractual and legal duties and take great issue to the mischaracterization of facts in the report.”
Background of the Report
The explanation follows a report alleging that India demanded $30 billion from BP and Reliance Industries for alleged underproduction from the KG D6 project.
