The company has chalked out a detailed plan for development of its existing KG basin assets after integration with GSPC facilities.
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
The company has been in talks with ConocoPhillips and Shell for some time. It now says the MoD's stringent norms on exploration in 'no-go' areas is posing a big challenge in taking the deal forward.
ONGCt has made another significant oil and gas discovery in its Krishna Godavari basin.
An expert panel approved policy for development of gas fields.
In a presentation prepared for the incoming Narendra Modi-government, the ministry listed national oil companies losing focus on domestic exploration as well as legal disputes around signed contracts with private explorers among the five things that went wrong during the United Progressive Alliance regime.
While a new formula for pricing of all domestically produced natural gas was notified on January 10 and published in Gazettee on January 17, the Election Commission last month asked the government to defer its implementation till general elections are completed.
The rocket is almost 49 meters high -- as much as a 17-floor building. It weighs 415 tons -- as much as the combined weight of 80 full grown elephants.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
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RIL with a market cap of Rs 2,98,776 crore (Rs 2,987.76 billion) is the country's second most valued company after Tata Consultancy Services.
The oil ministry is rejecting the monetisation of new discoveries as their production will not be viable at the present price of $4.2 per mmbtu
Credit Suisse said $5.6 may work for Reliance Industries' R-Series gas field in the KG-D6 block but the economics for its satellite fields and NEC-25 block are uncertain.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
The agency said the rating revision to stable with apositive outlook reflects continuing strong financial and operating performance.
To increase gas availability for power plants, the Ministry of Petroleum and Natural Gas has taken various steps.
Defending champion Viswanathan Anand was unable to make most of playing with white yet again as he was held to his successive draw, by China's Liren Ding, in the second round of the Bilbao Masters Final, in Bilbao, on Wednesday.
Keshav Joshi's tongue in cheek look at Narendra Modi's mega plans.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
In a presentation to investors in Mumbai last week, Aramane Giridhar, Joint Secretary (Exploration) gave detailed reasons for pendency of decisions in the Ministry of Petroleum and Natural Gas where officials approved of decisions but refused to issue formal orders, resulting in delays in production of oil and gas.
Sharp improvement in refining margin is expected to be the prime driving force.
The company's investments in telecom business reached 15-20% of capital employed.
RIL's standalone net profit rose one per cent quarter-on-quarter
Reports have put the IPO pipeline between 19 and 30 issues, of Rs 10,000-20,000 crore or Rs 100-200 billion.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
State-owned Oil and Natural Gas Corp (ONGC) has signed a contract to hire a long-idled ultra-deepwater drillship of US-based Transocean for $412,000 (about Rs 2.39 crore) per day.
In its third video uploaded on YouTube, RIL said the Cabinet had decided on June 27, 2013, to revise natural gas prices for public and private producers from April 1 and notified the decision on January 10, about two months before the schedule for general elections was announced on March 5.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
Sensex ended up 41 points at 29,136 and Nifty gained 4 pts to 8,809.
The Union Cabinet in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas.
Launching a fresh broadside at Oil Minister M Veerappa Moily, CPI leader and MP Gurudas Dasgupta on Tuesday said no action has been taken against Reliance Industries for deliberately keeping natural gas output low and is instead being rewarded by a steep hike in prices.
Sensex, Nifty put up a good show in closing trade.
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Oil and Natural Gas Corporation has deployed the best-in-class technologies in its Improved Oil Recovery and Enhanced Oil Recovery schemes on these fields.
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