On 11th February 2014, Delhi Chief Minister Arvind Kejriwal filed an FIR against the chairperson of Reliance Industries Limited Mukesh Ambani, Union Petroleum Minister M Veerappa Moily, former petroleum minister Murli Deora and former director general of Hydrocarbons VK Sibal under various sections of Prevention of Corruption Act (PCA).


Here are the 10 Shocking Facts about RIL GAS SCAM:

1) Reliance Industries Ltd. had benefited as Oil Ministry decided to hike the natural gas price USD 8 per million British thermal unit as against current USD 4.2 from April 1.

2) Reliance Industries Ltd. did not produce adequate gas from eastern offshore KG basin block so as to put pressure on the government to hike the price.

3) Reliance Industries Ltd. earned profit of Rs. 54,000 crore per annum by hiking the gas price.

4) CAG had conducted an audit of oil wells and the report stated that Reliance acquired windfall gains of 1.25 lakh crore.

5) Before the Government had already approved a proposal to price domestic gas at average of international gas hub prices and actual cost of importing in its liquid form in India. But

6) The government has already approved a proposal to price domestic gas at an average of international gas hub prices and actual cost of importing gas in its liquid form into India but the conspiracy between some Union ministers and Reliance Industries Ltd. resulted in doubling the gas price from April 1.

7) According to the cost sheet, the cost to extract gas from the wells given to Reliance Industries Ltd. was below one dollar per unit.

8) Reliance Industries Ltd. had signed a contract in the year 2000 for production of gas at KG-D6 fields at USD 2.3 dollar per unit but then it was changed and price of gas was raised to 4 dollar per unit.

9) After raising the price, Reliance Industries Ltd. was supposed to produce 80 million units, but they produced less than 18 per cent, which in turn caused artificial shortage leading to importing of gas which resulted in inflation in the country.

10) Reliance Industries Ltd.’s partner NICO till today provides gas to Bangladesh at USD 2.34 dollar per unit.

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