Oil minister clears taking back of five gas discoveries from RIL

The allocation of natural resources by the government to the private sector -- be it coal or gas -- continues to be a contentious issue. The oil ministry has approved a decision to take back five discoveries made by Reliance Industries Ltd in the KG-D6 block off the Andhra coast on grounds of missed timelines but allowed India's biggest private oil and gas company to retain three other finds for conducting further tests to judge their commercial viability.

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