The company had received a loan restructuring package from banks under the 5/25 scheme last year.
RIL has slapped an arbitration notice challenging oil ministry's decision to take away 814 square kilometer of its eastern offshore KG-D6 area that contained five gas discoveries.
While government/PSU procedures focus on piece meal & individual tenders taken on standalone basis, avoiding delays and cost of not doing things becomes a primary consideration in PSC procurement
Gas production from Krishna Godavari basin block has dropped to just over 12 mmscmd and RIL is carrying out workover on main Dhirubhai-1 and 3 gas fields.
With pricing of natural gas from the KG-D6 block stuck, Mukesh Ambani made the second trip to New Delhi this month to meet top officials.
The government has formed a four-member panel of secretaries to suggest a new gas pricing mechanism.
ONGC takes Reliance to court, alleging years of stealing from its offshore block and a sleeping govt, right after it was agreed there would be a probe by experts.
The newer gas finds will help turn the tide for ONGC, which has seen oil and gas output stagnating in recent times.
The withdrawal of the arbitration will now entitle the two companies to marketing and pricing freedom on the natural gas they produce from newer fields in the deep sea at an investment of Rs 40,000 crore by 2022.
The govt is mulling the need to exercise its rights under the gas production-sharing contracts.
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
Reliance Industries on Monday said it has no plans to spin off its Krishna Godavari gas field into a separate company and rope in a strategic partner.
President Pranab Mukherjee, the former trouble-shooter of the Congress party, may informally 'guide' the Union government in drafting the bill on the creation of Telangana.
Contract does not provide for retrospective penalty for 'such' acts
Over the past decade, RIL has never announced lesser dividend to its shareholders even when faced with lower profits
Keshav Joshi's tongue in cheek look at Narendra Modi's mega plans.
Post-cessation, activities related to the safe shutdown of the field are underway.
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.
Union government limits powers of Anti Corruption Bureau to corruption cases involving Delhi state govt officials
The RIL stock has halved from an all-time high of Rs 1,626 made (intra-day) on January 15, 2008, to on Wednesday's closing figure of Rs 800.55.
An open letter to the prime minister on the Rangarajan formula doubling the price of KG basin gas
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
Sharp improvement in refining margin is expected to be the prime driving force.
The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks. The oil ministry's Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be $2.90 per million British thermal unit for the six-month period beginning April 1.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
RIL produced a total of 13.58 mmscmd of gas from Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Bay of Bengal in the first week of February, which rose to 13.63 mmscmd in the following week.
The Reliance gas pricing issue is likely to find a place in the Aam Aadmi Party's manifesto as the new party has already indicated that it will be among the major issues to target the Bharatiya Janata Party and the Congress in the Lok Sabha election.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
India's east coast is emerging as one of the hydrocarbon hotspots in the world with 100 trillion cubic feet of gas and two billion barrels of oil in place.
Congress stalwart Murli Deora passed away on Monday morning after battling a prolonged illness. He was a politician who shared rapport across the political and corporate spectrum.
BG Group of UK is planning to buy stake in ONGC's oil and gas blocks.
RIL had drawn 58.67 bcm from the wells up to March 31, 2015.
The crux of the ongoing court case between Reliance Industries (RIL) and Reliance Natural Resources (RNRL) on Monday was pricing of the gas produced from the Krishna-Godavari (KG) basin.
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
But earnings of main private holding firm get a booster dose from RIL dividend
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
The Bharatiya Janata Party has said Prime Minister Manmohan Singh owes an explanation to citizens on why Jaipal Reddy was shifted as minister of petroleum and natural gas.
