Unocal Corporation of the United States has shelved its ambitious plans to export Bangladesh gas to India as Dhaka continued to drag its feet on taking a call on selling natural gas to New Delhi through a $1.2 billion pipeline.
The projected output will come from satellite fields in the eastern offshore KG-D6 block as well as North East Coast block NEC-25, off the West Bengal coast.
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
For China, recession was like an oppurtunity that comes after hundreds of years, and with its piggy bank overflowing money the country went on a wild shopping spree...
After sleeping over in the assembly for nearly a week, members of the Karnataka legislative assembly are ready for more drama -- it is time for Yatra politics in the state. The first of the yatras (processions on foot) will commence on July 25 led by the opposition Congress.
Ready to share their natural resources, African countries on Tuesday sought greater Indian investments, particularly from the private sector, to boost economic growth in the continent.
Claiming that over three crore tons of iron ore worth over Rs 12,000 crore was illegally shifted out of the country since 2003, Karnataka Chief Minister B S Yeddyurappa said on Monday that he will quit if he failed to put an end to plundering of the natural resources in the state.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
Pakistan pitched for India importing natural gas from Iran through a pipeline passing through its territory saying it will do everything possible to ensure safe delivery of gas from the onland pipeline
During hearing of the dispute over supply of gas by RIL to RNRL at $2.34 per mmBtu, the bench headed by chief justice K G Balakrishnan said the two parties could arrive at a 'suitable arrangement' through arbitration, as the Bombay high court that approved the Reliance empire's demerger cannot spell what is the ideal arrangement.
RIL signed agreement to take 45 per cent interest in highly prospective Eagle Ford Shale play, the Mumbai-based firm and Pioneer said in separate but almost identical statements.
An atmospheric scientist, Ramanathan focuses his research on global climate dynamics, the greenhouse effect, aerosols, clouds, and the earth radiation budget.
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
Sources familiar with the developments said the government will file an application in the Bombay High Court by the end of December or early January. RIL on its part has already appealed against the order.
RIL declined to comment on this or related allegations, saying the entire issue was in court.
Within 24 hours of the brothers Ambani deciding on a ceasefire, the stock market and Reliance pundits are out with their calculators to figure out the financial implication of ending the non-compete terms five years in advance and the loss that Anil Ambani's Reliance Natural Resources Limited would incur post the Supreme Court verdict.
The Rajya Sabha is all set to go digital to minimise the massive wastage of paper in the House, thanks to an initiative by Vice President and Chairman Hamid Ansari.As per the suggested changes, Parliamentarians will receive documents in hard copy only if they request for it and special incentives will be provided to MPs who opt for the digital format.Ansari, a retired Indian Foreign Service officer, wants Parliament to set an example.
A short-term (five-year) price is not relevant beyond a point when power plants have a life of 15-20 years, says J P Chalasani, CEO, Reliance Power.
There is nothing much for Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate with Reliance Industries Ltd, as the price and quantity of gas it is seeking will be dictated by the government policy and the tenure of supply will depend on life of the fields.
RNRL is seeking 28 million cubic meter of gas a day or more than one-third of peak output from RIL's eastern offshore KG-D6 fields at a price set in a 2005 family agreement.
A friend of Mukesh Ambani should not be petroleum minister
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
Anil dared the oil ministry to cancel the production sharing contract with RIL if it was really aggrieved and not challenge third party agreements.
The release of water from the Chungthang dam led to a sudden increase in water levels up to 15-20 feet high downstream, defence spokesperson Lt Col Mahendra Rawat said.
Even four years after splitting the Reliance empire, the Ambani brothers still seem to be washing dirty linen in public: the latest battle is over gas pricing.
Development plan for K-G basin runs for 12 years, so can't supply to RNRL for 17 years, says RIL.
'Govt to lose Rs 40,000 crore due to RIL's escalating costs'.
Anil Ambani promoted Reliance Natural Resources icked off the second round of the battle today by filing a special leave petition in the Supreme Court, which prompted Mukesh Ambani-led Reliance Industries to file a caveat in the apex court.
RIL president and CEO (Oil and Gas) PMS Prasad, who met petroleum ministry officials to discuss under capacity production from the company's KG basin fields, said: "We have time till July 15 to decide. . . we are still evaluating our options."
With the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) planning to approach the Supreme Court, challenging a High Court order for selling gas at $2.34 per million British thermal unit (mBtu) to Reliance Natural Resources Ltd (RNRL), the chances of an agreement between the Ambani brothers by July 15 appear remote.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL's eastern offshore KG gas fields.
The sustainable impact of this process is under scrutiny, Tripathi added.
India is poised to become a major market for mining equipment, even larger than China, according to US-based Bucyrus International, a world leader in manufacturing equipment for the surface and underground mining industry.
The apex court also heard a plea for bringing back black money stashed in tax havens abroad.
RIL said RNRL has maintained that the May 12, 2005 draft agreement between the RIL and NTPC should be the basis for fixing the price of gas from the KG Basin but it has ignored the provision for government approval.
The Ambani brothers are locked in a bitter battle over the supply and price of the gas from KG basin.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
Reliance Industries (RIL) is looking at yet another shale gas acquisition in North America, its third in three months. The transaction is said to be in line with RIL's recent acquisition of a 45 per cent stake in Eagle Ford shale acreage of Pioneer Natural Resources. Sources in the company confirmed the development.
Rajan addressed a group of investors in Boston on Thursday.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances