In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
Based on the panel's formula, the base price of domestic natural gas comes to around $7.4 per million British thermal unit (mBtu), but the pricing formula proposed by RIL, officials say, translates the price into $13-14 an mBtu.
During the Drill Stem Testing, the well produced 596 barrels of oil per day. The discovery, named as Dhirubhai-36, has been notified by the Union government and the Directorate General of Hydrocarbons.
The apex court on March 31 named Spigelman as the third Arbitrator who shall act as the Chairman of the Arbitral Tribunal whose two other members are former Chief Justices of India -- S P Bharucha and V N Khare.
RIL may go to arbitration which may lead to further delay in production and extra cost associated with the arbitration.
Reliance Industries has opposed a move to make marketing margin charged by it and other sellers of domestically produced natural gas uniform, while giving gasimporters a free hand, saying that it would be a gross discrimination.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
With RIL entering a new growth phase in telecom and retail, gen-next, say RIL executives, could soon be seen holding the reins of the firm, assisting their father, Chairman Mukesh Ambani.
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.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
Terming as "illegal" marketing margins charged by RIL on gas supplied to it, Anil Ambani group firm Reliance Infra has asked the Mukesh Ambani-led company to withdraw these charges and refund the payments it had made till now.
Reliance Exploration and Production DMCC, a wholly-owned subsidiary of RIL, has signed contract for Block 41. The block lies adjacent to Block 18 in Gulf of Oman, which the Government of Sultanate of Oman awarded to RIL in 2005. Block 18 is situated in the offshore Gulf of Oman between Block 41 and the border with the Fujuriah offshore block. The two blocks comprises approximately 21,000 sq km of area each.
RIL reported its fourth consecutive drop in quarterly net profit, hurt by weak demand and lower natural gas output, but sequentially its earnings rebounded.
In its multi-billion-dollar acquisition pursuit for LyondellBasell, the Mukesh Ambani-led Reliance Industries engaged 'hundreds' of advisors and personnel to access thousands of documents related to the proposed deal, which was rejected by the Luxembourg-based bankrupt chemicals major.
Reliance Industries has doubled the average life of its debt to around 7.5 years.
RIL said the Anil Ambani group firm "does not have a single power plant since the demerger (of the Reliance empire) and the ADAG owns just one gas-based plant."
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
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At the last hearing on October 11, SAT had suggested to Sebi to look at considering the RIL application for a consent settlement that allows companies and individuals to settle disputes by paying a fine without admission or denial of the alleged wrongdoing.
RIL, as well as its partner Pioneer Natural Resources Co, are seeking a buyer for their stakes in Eagle Ford Midstream venture as they focus on shale oil production.
Nova's new owner has decided not to pursue this project.
Reliance Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
Equity benchmark Sensex climbed over 460 points to reclaim the 61,000 mark while the Nifty closed above the 18k level on Friday, propelled by robust buying in index majors Reliance Industries and ITC amid fresh foreign fund inflows. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 463.06 points or 0.76 per cent to settle at 61,112.44. During the day, it rallied 560.08 points or 0.92 per cent to 61,209.46.
The Oil Ministry is seeking Cabinet nod to allow Reliance Industries to retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.
RIL and ONGC on March 28 agreed to appoint neutral international expert to decide if four wells drilled on boundary of KG-D6 block were drawing gas from neighbouring gas discoveries of the state-owned firm.
Due to poor hydrocarbon prospects, BP surrendered nine out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for $7.2 billion
The petroleum ministry has said Reliance Industries Ltd (RIL) is not right in seeking an out-of-turn rise in the price of natural gas produced from the KG-D6 fields and asserted the $4.205 per million British thermal unit (mBtu) rate will prevail unless pricing formula is changed.
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
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
The move, which follows Tata Sons scaling up its stake in Tata Steel by 2 per cent in the recent past, is aimed at taking the promoters' holding in RIL beyond the reach of hostile takeover attempts.
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
The certified copies of the orders of the Gujarat and Bombay high court, sanctioning the scheme of amalgamation of IPCL with Reliance Industries, were filed with the respective registrar of companies on Wednesday.
An Anil Ambani group company has asked the oil ministry to stop Reliance Industries Ltd from charging marketing margin on gas, alleging that the Mukesh Ambani-led firm was not sharing the revenue and 'diverting' crores (billion) of rupees of the government's share.
Ambani's Reliance has refineries at Jamnagar in Gujarat.
The world-wide acquisition of the iconic Hamleys brand and business places Reliance into the front-line of global retail.
Infosys on Monday overtook Reliance Industries to become the second most influential stock on BSE benchmark Sensex after its shares surged by 1.52 per cent.
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.
State-run energy giant ONGC has toppled corporate behemoth Reliance Industries from the top position in terms of market capitalisation after a more than one per cent dip in RIL's share price.
