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Niko Resources News

15 Aug 2017

Govt slaps $ 264 million penalty on RIL, BP!

The government has imposed a new penalty of USD 264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16.

15 Aug 2017

Govt slaps $ 264 million penalty on RIL, BP

The government has imposed a new penalty of USD 264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16.

13 Nov 2015

Cash-starved Niko to give stake in NEC-25 gas block to RIL, BP

RIL is the operator of the block with 60 percent interest while BP plc of UK has the remaining 30 percent stake.

Reliance Industries

29 Jun 2015

RIL to defer gas field development if price outlook uncertain

Reliance Industries may defer development of R-Series and other satellite gas fields in the eastern offshore KG-D6 block if the gas price outlook was uncertain, its junior partner Niko Resources of Canada said.

Reliance Industries Limited

14 Jun 2015

Niko seeks 3-month extension to sell stake in KG-D6 block

Reliance Industries` consortium partner Niko Resources of Canada has extended by over three months its search for a buyer of its stake in RIL`s eastern offshore KG-D6 gas block to pay off debt.

15 Feb 2015

Niko to sell stake in RIL block on lower gas price hike

Niko holds 10 percent stake in the KG-D6 block where a total of 20 oil and gas discoveries had been made and three out of them are in production.

03 Feb 2015

BP Plc writes off $830 million investment in KG-D6 block

BP Plc has written down the value of its investment in eastern offshore KG-D6 block by USD 830 rpt USD 830 million, following lower-than-expected gas price hike.

Reliance Industries

14 Oct 2014

Investment decision only after clarity on gas price: RIL

Reliance Industries has said it will make a final investment decision on producing gas from the R-Cluster discovery in the flagging KG-D6 block only after the government decides on gas price hike.

Reliance Industries

12 Sep 2014

RIL gas field investments depend on acceptable pricing: Niko

Reliance Industries' USD 10 billion investment in new fields off the east coast depends on the government approving acceptable gas price, its junior partner Niko Resources said.

06 Jul 2014

RIL, BP slap arbitration notice on Govt for gas price hike

RIL-BP-Niko on June 17 served a formal arbitration notice naming London-based Sir David Steel as its arbitrator.

30 Jun 2014

'RIL to defer investment in developing new fields'

The consortium is also investing USD 1.529 billion in developing four other satellite fields that can produce 10 mmscmd.

Reliance Industries

25 Jun 2014

Govt to slap additional penalty of $578 million on RIL

The government plans to impose an additional penalty of USD 578 million on Reliance Industries for producing less-than-targeted natural gas from its eastern offshore KG-D6 block.

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