RIL said that it is legally advised that the Delhi High Court judgement and this provisional demand raised by the Petroleum Ministry are “unsustainable”, and the company is taking steps to challenge the judgement.

Regarding the gas dispute, RIL said the Ministry of Petroleum and Natural Gas has raised a demand of $2.81 billion on the Production Sharing Contract (PSC) contractors—RIL, BP Exploration (Alpha) Limited, and NIKO (NECO) Limited. RIL said it received the letter on Monday.

The Ministry of Petroleum and Natural Gas has raised a demand of USD 2.81 billion dollars i.e. approximately Rs 25,000 crore from Reliance Industries (RIL), BP Exploration (Alpha) and Niko after a division bench of the Delhi High Court (HC) ruled in favour of the government in KG-D6 gas dispute case.

India's Reliance Industries said on Tuesday the country's Petroleum and Natural Gas Ministry has raised a demand of $2.81 billion from the company, BP Exploration and Niko in a gas drilling dispute case.

Reliance Industries (RIL) shares fell for the third straight session on March 4, nearing their 52-week low. The decline follows a US $2.81 billion demand from the Ministry of Petroleum and Natural Gas on PSC Contractors including RIL.

The Ministry of Petroleum and Natural Gas has demanded $2.81 billion from Reliance Industries Limited and its partners over a dispute regarding gas migration from ONGC’s blocks to the KG-D6 block. This follows a court ruling that reversed a previous decision in favor of Reliance.