Reliance Denies $30 Billion Claim, States Govt. Claim is $247 Million
Reliance Industries Limited has issued a media statement refuting a report that claimed India has levied a $30 billion charge against Reliance and BP for alleged underproduction from a gas field. The ...
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Why is Reliance Industries Limited in the news today?
Reliance Industries Limited (RELIANCE) is in the news due to the company is responding to a negative report and refuting claims made against it, indicating a potentially adverse situation that requires clarification.
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Reliance Denies $30 Billion Claim, States Govt. Claim is $247 Million
December 29, 2025, 03:54 PM
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Reliance Industries Limited has issued a media statement refuting a report that claimed India has levied a $30 billion charge against Reliance and BP for alleged underproduction from a gas field. The company stated that the report, based on unnamed sources, is factually incorrect, inappropriate, and irresponsible.
Reliance clarified that the actual claim made by the Government of India concerning the KG D6 Block is approximately $247 Million. This amount has been consistently and appropriately disclosed in the company's annual audited financial statements as per disclosure requirements. The company emphasized that the matters are sub judice and will be resolved by the judicial system, in which Reliance has full faith.
Reliance Industries Limited, along with its partner BP, asserted that they have always complied with their contractual and legal obligations and strongly object to the mischaracterization of facts presented in the report. The statement was issued on December 29, 2025.
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