Govt moves to disallow more of Reliance-BP-Niko’s KG-D6 cost
The oil ministry has sought to disallow about $264 million of the exploration and production cost the consortium of Reliance Industries Ltd (RIL), BP Plc. and Niko Resources Ltd wanted to recover in 2015-16 from the revenue generated by their D6 block in the Krishna-Godavari (KG) basin. The ministry cited below-target output from the field for disallowing the cost recovery, a person privy to the development said on condition of anonymity. The government demanded extra profit share—called profit petroleum—from the field as lower cost recovery leaves the consortium with more profit on paper to be shared between the developers and the government, under a formula in their production sharing contract.
Modi’s Independence Day speech is all about creating a ‘New India’
In the penultimate Independence Day speech of his current term, Prime Minister Narendra Modi on Tuesday looked beyond the Lok Sabha polls due in April 2019 to give a call for building a “new India” by 2022. If in his previous three speeches, the PM had announced such path-breaking steps as the abolition of the Planning Commission and schemes such as Startup India and Stand-Up India, Modi’s speech on Tuesday was devoid of new announcements except the launch of a website to honour gallantry award winners.
Reliance Jio may offer part refund for 4G feature phones before 3-year lock-in
Reliance Jio Infocomm is expected to offer buyers of its 4G feature phone the option to return the handset before the stipulated period of three years and get part of the security deposit back. People aware of the development said Mukesh Ambani-led Jio is likely to announce the terms of the refund scheme in the next few days. The feature phone, called JioPhone, will be available for beta testing from August 15. Pre-bookings for the handset will start from August 24.
Source: Economics Times
Amritsar: India opens first Partition museum 70 years after bloody event
In the 70 years since India and Pakistan were created from the former British Empire, there has never been a venue focused on the stories and memorabilia of those who survived that chaotic and bloody chapter in history — until now. A new museum on the Partition of the Indian subcontinent opens this week, as the two South Asian giants mark seven decades as independent nations.
Doordarshan, All India Radio refuse to air Tripura chief minister’s speech
The Left Front government in Tripura and Prasar Bharati clashed on Tuesday after Doordarshan and All India Radio refused to broadcast the customary Independence Day address of Tripura chief minister Manik Sarkar, advising him to “reshape” the speech after it was recorded by the chief minister. The public broadcasters did not air Sarkar’s six-minute speech which was scheduled to be aired at 6.30am on Tuesday after the Sarkar government refused to make changes.
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