RIL charged more than approved gas price, CAG says ... The - TopicsExpress

RIL charged more than approved gas price, CAG says ... The Comptroller and Auditor General of India (CAG) has pulled up Reliance Industries for charging a rate in excess of the government approved price for its KG-D6 gas field and not including the marketing margin for calculating royalties and governments share. The government had in October 2007 set a sale price of $4.20 per million British thermal unit based on the price discovered by RIL from key customers. The CAG in a draft report of audit of RILs eastern offshore KG-D6 block spendings stated that the company charged $4.205 per mmBtu from consumers, leading to excess billing of $9.68 million.

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