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BW Businessworld

RIL Starts Arbitration Against Govt

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Reliance Industries said on Monday it has begun arbitration proceedings against the government to have the company's entitlement to recover its costs related to KG-D6 block, off the country's east coast.

Reliance said in a statement it was concerned by media reports that the oil ministry would seek to restrict the amount of the costs recovered by the company from its revenues from sale of gas produced from the D1 and D3 fields in the KG-D6 block.