'It is very difficult to be an honest politician in a country where the system is absolutely corrupt. Jaipal Reddy is one up even on Prime Minister Manmohan Singh who is considered clean and honest. Reddy has gone a step ahead by playing an active role in stopping corruption. He has put things on record; he has walked the extra mile to ensure that public money is valued highly. One must recognise Reddy's efforts, and make it an example for India's younger generation.'
Analysts say the company's petrochemical segment and higher other income would boost its revenues. On an average, brokerages expect RIL's net profit to rise 12-17 per cent compared with the year-ago period.
Two more Congress members of Legislative Assembly on Thursday appeared to be switching loyalty to YSR Congress of Kadapa Member of Parliament Jagan Mohan Reddy.
RIL on April 2 shut the well A1 on the main producing fields of Dhirubhai-1 and 3 (D1&D3) in Krishna Godavari basin block KG-DWN-98/3 or KG-D6 for "reservoir build-up study," according to a status report of the Directorate General of Hydrocarbons.
Reliance Industries is awaiting government approval for two gas discoveries it has made in the Krishna Godavari basin deep sea block, the company's junior partner Hardy Oil & Gas said.
State-run Oil and Natural Gas Corporation (ONGC) will shortly farm out nearly 26 per cent stake in its KG-DWN-2004/6 block in the Krishna-Godavari basin to Japan's Inpex Corporation.
The auditor said that it has unfettered right of access to all records of Reliance Industries (RIL) during its audit of operations in the Krishna-Godavari basin and would override any conditions sought to be imposed on the process.
Reliance Industries on Wednesday assailed reports of the Comptroller and Auditor General and expert P Gopalakrishnan, which have alleged the company got undue benefits pertaining to Krishna-Godavari basin gas and its pricing.
Oil and Natural Gas Corp is in talks to hire Reliance Industries' unutilised production facilities on the east to quickly bring to production its gas finds in the Krishna Godavari basin.
RIL this week wrote to the ministry offering to give away 4,266 sq km of the Krishna Godavari basin block, sources privy to the development said.
Company indicates estimates of reserves needed to be cut.
Reliance Industries has sought tripling of its KG-D6 gas price from April 1, 2014 after the current below market rate of USD 4.205 per mmBtu expires.
With two of its clusters - R-Series and Satellite Series - likely to start production in the next two years, the company looks to turn around production from this business.
State Tourism minister Vatti Vasant Kumar and TDP legislator Chintamaneni Prabhakar shoved each other, after an eated argument on the dais during the 'Rachabanda' (mass contact programme), they said adding the MLA was later taken into custody.
The ruling Congress suffered a setback in Andhra Pradesh on Thursday as three Members of the Legislative Assembly from the coastal region quit the party in protest against the bifurcation of the state.
RIL had in 2006 proposed to invest $2.234 billion in developing the Dhirubhai-26 or MA discovery, the only oil find in the KG-DWN-98/3 (KG-D6) block in Krishna Godavari basin off the east coast.
Labourers held a demonstration in front of the police station.
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.
RIL had drawn 58.67 bcm of gas from four wells.
Move came in the wake of government's refusal to settle the dispute through arbitration over recovery of cost incurred by the company.
Telangana Rashtra Samithi President K Chandrasekhar Rao on Sunday sought to douse the controversy over his remarks that state government employees from Rayalaseema and coastal Andhra working in Telangana should go back to their respective regions, saying no one need go anywhere.
Biskett is likely to release in October.
RIL on June 15 wrote to Oil Ministry proposing to price natural gas it produces from the Krishna Godavari basin block in Bay of Bengal at a rate equivalent to price India pays for importing liquefied natural gas, official sources said.
CPI(M) Rajya Sabha Tapan Sen, in an interview to Rediff.com, explains what he believes are the irregularities committed by Reliance Industries and how UPA government has allowed it to get away with it.
ONGC is set to invest Rs 440 Crore (Rs 4.4 billion) in drilling of 40 oil and gas wells in the Krishna-Godavari basin next fiscal, a senior official of the company said on Wednesday.
Authorities were busy taking steps to restore the battered infrastructure in Visakhapatnam and other cyclone-hit districts in coastal Andhra Pradesh, apart from ensuring supply of essential commodities.
Needed, it says, for covering its return and risks; also wants govt to stick to contract on output sharing
An uncontrolled flow of gas started from the Well G-1-9 in Bay of Bengal around August 30.
A deepwater well in a Krishna Godavari basin block operated by state-run Oil and Natural Gas Corp (ONGC) has been leaking gas for two months and there are now fears of environment damage due to the uncontrolled flow.
Sequel to firm's announcement of cut in K-G gas reserves after long decline in output; agency says it expects decline in cash flows.
Reliance Industries (RIL) has cut estimates for proven gas reserves in its Krishna-Godavari block off the east coast by 6.7 per cent, to 3.67 trillion cubic ft (tcf), the company said in its annual report.
Hyderabad-based Turbo Megha Airways became the fourth company to receive flying licence from aviation regulator DGCA in the past two years to launch a regional airline.
A unit of Eastern Naval Command on Thursday rescued eleven fishermen trapped in the Bay of Bengal due to the rough sea off Narasapur in East Godavari district and Yanam in Pondicherry.
The toll in the deadly blast and fire, apparently caused by leakage from a Gas Authority of India Limited gas pipeline, on Saturday rose to 17, even as Andhra Pradesh police registered a case of negligence against the state-run firm.
Chances are any such disruption will not occur on the major shipping lanes but on some edge of the ocean between India and China. Even if there is no actual disruption, the costs of averting one can be punitive. The setting for this is provided by the energy shortage both countries face, says Subhomoy Bhattacharjee.
The committee said whatever benefit RIL received in terms of the migrated gas is liable to be returned to the government.
We invited readers to send in their interesting monsoon snapshots. Here is the next set of responses -- and you can share yours too!
Lakhs of devotees came out in processions to immerse the Ganesha idols on the last day of the festival.
After a long wait for government approval, Reliance Industries (RIL) is to begin work on development of four satellite fields -- D-2, D-6, D-19 and D-22 -- in India's largest gas field, block D6 in the Krishna-Godavari basin, or KG-D6.
In a setback to the ruling Congress, former party member of Parliament Y S Jagan Mohan Reddy on Wednesday won two out of nine seats in the elections to local authorities' constituencies of the Andhra Pradesh Legislative Council.
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