The 28 discoveries include Charada structure and Matar field in Cambay basin (Gujarat) and YSAF in KG basin (off Andhra Pradesh coast), the company said. The discoveries made in FY'09 have been notified to the directorate general of hydrocarbons.
Petroleo Brasileiro SA or Petrobras, Brazil's state-controlled oil firm, has offered ONGC its 15 per cent interest in the Krishna Godavari basin block that sits next to Reliance Industries prolific KG-D6 fields without any cost.
Reliance is seeking help from Shell to rectify glitches in D6 block in the Krishna-Godavari basin.
1,400 km pipeline will transport gas from KG basin to west coast.
Heavy rain in coastal Andhra Pradesh in the wake of Cyclone Laila has paralysed industrial activity in the state, including closure of oil rigs in the Krishna-Godavari Basin. Cargo handling at ports also suffered due to the incessant rain.
Arvind Kejriwal and Prashant Bhushan have successfully managed to blow the lid off the 'crony capitalism' that is flourishing in the country today, and in the process delivered a crushing blow to the UPA government. Sheela Bhatt analyses
The Bombay high court on Monday suggested that the warring Ambani brothers could approach an independent body to resolve their dispute relating to supply of natural gas from the Krishna-Godavari basin. "The MoU is not able to resolve the issue and we would suggest both the parties to approach an independent body for the same," observed justice J N Patel.
Kejriwal, whose group India Against Corruption, has won publicity in India by accusing ruling Congress party chief Sonia Gandhi's son-in-law Robert Vadra of taking part in shady dealings, said on Wednesday that Reliance has profited from cosy relationships with a string of government ministers.
RIL's KG basin started pumping gas in April and is currently producing 37-38 mscmd.
Videocon's Venugopal Dhoot has become the most successful maverick in oil and gas business in India.
With the price of gas from its fields in the Krishna-Godavari basin expected to be higher than rivals, Reliance Industries is targeting automobiles and domestic users because power and fertiliser plants may not be able to afford it.
$5.2bn will be spent on gas production, while a larger chunk of $7bn on building gas pipes.
Britains' Cairn Energy has offered to sell its stake in two oil and gas blocks in Krishna Godavari basin to Oil and Natural Gas Corporation for $100 million and 15 per cent equity in state-run firm's two blocks.\n\n\n\n
Oil and Natural Gas Corporation and Mukesh Ambani-controlled Reliance Industries may tie up to build a common gas processing unit as the two firms have discovered huge reserves in the Krishna-Godavari basin
Sharp decline in production from flagship Krishna-Godavari basin has changed the business mix for the company.
ONGC is close to finalising a stake sale in two of its blocks -- one in the Krishna-Godavari basin and another in the Mahanadi basin -- to British Gas. It is also talking to US-based Noble Energy for offering it stake in some of its blocks in India. ONGC has already agreed to give a stake to Brazilian company Petrobras, Norwegian company Norskhydro and Italy-based ENI in its countrywide blocks.
He also described Moily as Mukesh Ambani's agent.
Besides Mukherjee and Deora, the EGoM would have power minister Sushilkumar Shinde, fertiliser minister M K Alagiri, law minister Veerappa Moily and Planning Commission deputy chairman Montek Singh Ahluwalia.
In its first decision, the Cabinet Committee on Investment (CCI) on Wednesday cleared Reliance Industries' producing KG-D6 block and gas discovery area NEC-25 along with 3 other areas where the Defence Ministry had either barred oil and gas activity or put stringent conditions on that.
Burdened with loans of over Rs 12,000 crore, GSPC has made an investment of Rs 7,000 cr in E&P at the block in the KG basin.
'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.'
In a free-wheeling interview with Jyoti Mukul, Sibal makes a case for his innocence and blames the media campaign by the Anil Ambani group for the current controversy.
It is expected to take a similar stand at the Mumbai and Delhi high courts, where Welspun Maxsteel, Ispat Industries and Essar Steel have challenged the petroleum ministry's decision to divert KG-D6s supply from steel and petrochemicals to power and fertiliser.
The danger of a corporate capture of government isn't imaginary, and corporations represent narrow profit-seeking interests of businessmen whose forte is not Constitutional values, says Praful Bidwai.
After the controversy over pricing of gas from the Krishna-Godavari basin, the Ambani brothers are locked in another court battle.
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 Cabinet on Thursday approved ONGC's proposal to acquire Cairn Energy's stake in two gas blocks for $135 million.
The government-owned Oil and Natural Gas Corporation, Cairn India's partner in the Barmer block in Rajasthan, is closely scrutinising the stake sale in Cairn India by Cairn Energy.
The company also said it has made three oil and gas discoveries in Krishna Godavari basin and Tripura.
Oil Ministry officials insisted that Defence Ministry cannot withdraw the clearance after 12 years of exploration.
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.
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.
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.
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.
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.
