Home > Uncategorized > K-G BASIN MUKESH AMBANI SCAM

K-G BASIN MUKESH AMBANI SCAM

Why Our Government has not appointed ONGC Chairman from 6 Months, why only acting chairman. Answer is only to prefer RIL GAS DEAL.

Draft Report (2010–2011), the Comptroller and Auditor General of India’s (CAG) first ever audit of oil and gas companies operating in India, said that the Government of India unduly favoured private oil and natural gas explorers including the Mukesh Ambani-led Reliance Industries Ltd incurring a huge loss to the exchequer. The CAG report mentioned that the Ministry of Petroleum and Natural Gas (MOP&NG) and its regulatory arm – the Directorate General of Hydrocarbons (DGH) – allegedly favoured at least three private oil and natural gas explorers. The report alleges that the government allowed Ambani’s Reliance Industries Ltd (RIL) to violate terms of its contract with the government for exploration in the Krishna-Godavari basin (KG-D6). Allegedly, 70% of the draft Comptroller and Auditor General of India report is devoted to Reliance Industries Ltd alone.

The CAG report also noted that former Directorate General of Hydrocarbons (DGH) permitted Reliance Industries Ltd (RIL) to inflate its development costs on extracting the gas in the D6 block to the KG basin (KG-D6) from USD $2.47 billion to a huge USD $ 8.84 billion. The CAG also cited a joint venture of RIL with British Gas(BG) and Oil and Natural Gas Corporation(ONGC) for hiking development costs in the Panna-Mukta and Tapti gas fields.

Vinod Kumar Sibal is related to Kapil Sibal, Minister of Human Resource Development and Minister of Communications and Information Technology.On the 1st of July, 2011, in the registration of a formal case of corruption against V K Sibal, former DGH, the CBI also mentioned a Houston-based company – GX Technology (GXT) and its Indian representative — Sujata Venkatraman, for showering favours on V K Sibal and his family members. READ FULL ARTICLE

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