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.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
The Directorate General of Hydrocarbons last month recommended to the Oil Ministry that $792 million of the cost RIL has incurred in KG-D6 fields be disallowed for producing only an average of 26.07 million cubic meters per day of gas as against the target of 86.73 mmcmd in 2012-13.
RIL may go to arbitration which may lead to further delay in production and extra cost associated with the arbitration.
Reliance Industries has doubled the average life of its debt to around 7.5 years.
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.
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.
RIL plans to make good its losses by promoting guest houses, restaurants.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
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.
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.
RIL reported its fourth consecutive drop in quarterly net profit, hurt by weak demand and lower natural gas output, but sequentially its earnings rebounded.
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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.
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 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.
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.
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.
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 Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
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.
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."
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
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
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
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.
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
Nova's new owner has decided not to pursue this project.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Equity mutual funds (MFs) deployed maximum in shares of Reliance Industries (RIL) in June at Rs 2,177 crore, followed by Maruti Suzuki (Rs 2,045 crore) and Bharti Airtel (Rs 1,310 crore). Shares of both RIL and Bharti Airtel have been turbulent this month. On July 1, shares of RIL crashed over 7 per cent, following the government imposing windfall taxes on domestic crude oil production and fuel exports.
Ambani's Reliance has refineries at Jamnagar in Gujarat.
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.
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.
A market-based gas pricing regime is to kick-in from next month.
It calculated that the government should have got an additional profit share of $ 115.263 million.
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.
Billionaire Mukesh Ambani-led Reliance Industries Ltd has lost its position as the Indian stock market's most influential individual company to IT major Infosys, following a recent plunge in its share price.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
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.
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