Reliance Industries Ltd has won government approval for laying six petroleum product pipelines across the country to sell output from its 33 million tonnes per annum Jamnagar refinery in Gujarat.
There have been reports that RIL's mark-to-market losses on oil prices hedges has run into billions of dollars after its bets on crude futures went wrong last year, when prices first surged to a high of over 147 dollars and then plunged to below $40 a barrel.
The board of directors of Reliance Industries, which met on Saturday, approved a proposal to merge IPCL with the company.
State plans to ask Centre to increase K-G gas allocation.
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.
Mukesh Ambani-led Reliance Industries on Tuesday said it has made the first oil discovery at an exploratory block in the Cambay basin in Gujarat.
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
Securities and Exchange Board of India is keeping close watch on scrips of Reliance Industries Ltd in the light of allegations made by Anil Ambani about breach of corporate governance norms in RIL.
RIL had in the New Exploration Licensing Policy rounds won 45 blocks and of these it has surrendered 14 blocks back to the government as it could not find commercially recoverable oil and gas, sources close to the company said.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
RIL, which has faced numerous delays in getting approvals and shifting goal-posts, said the country did not have a stable policy regime and this was responsible for exit of global energy giants like Royal Dutch Shell, BHP Biliton of Australia, Statoil of Norway and Brazil's Petrobras.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
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.
According to an official close to the development, in the coming financial audit report, to be tabled in Parliament's Budget session next year, CAG will detail the slide in the government's share in petroleum sector profits due to a drop in gas production.
Corporate giant Reliance Industries (RIL) on Tuesday said it has allotted 1.6 lakh shares to its employees under the Employees Stock Option Scheme (ESOP).
Reliance Industries Ltd announced on Tuesday a big-ticket expansion in retailing business, which would have presence in 1,500 cities across India at an investment of about Rs 25,000 crore (Rs 250 billion) generating over 1000,000 new jobs.
The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
Winner will construct 300,000 barrels per day refinery.
It would be complete by 2012 with a total investment of over Rs 11,300 crore, including an estimated Rs 2,300 crore from RIL and Rs 9,000 crore from GAIL. Analysts say refineries -- Mangalore Refinery and Petrochemicals, Chennai Petroleum Corporation, Essar, Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation -- located in the vicinity of these pipelines would benefit as they would be able to substitute costly fuel oil with cheaper gas.
Reliance Industries Ltd will announce its audited financial results for the year ended 31st March 2003, on Wednesday, April 23.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
Fitch Ratings on Tuesday said a higher natural gas price will help improve Reliance Industries' profitability in 2014-15 fiscal and would lead it to invest more in raising production.
Reliance Industries Ltd had sought to settle certain investigations into alleged violation of insider trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum Ltd, but the application to settle of the matter under Sebi's consent framework was rejected by the regulator.
The bench observed that it needs more time to study Sebi's view on the matter.
A top management team of Anil Ambani group firm RNRL got stood up by Reliance Industries officials, who neither responded nor turned up for a proposed meeting to follow up the Bombay high court order on gas supply.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
The Election Commission asked the government to defer announcement of the new price till completion of the polls and so RIL was asked to continue selling the gas at old rates.
.jpg)
RIL with a market cap of Rs 2,98,776 crore (Rs 2,987.76 billion) is the country's second most valued company after Tata Consultancy Services.
The Reliance Anil Dhirubhai Ambani Group on Wednesday threatened to sue three top officials of Mukesh Ambani's Reliance Industries for breach of trust and their inability to protect the interest of shareholders of an ADAG company.
IndusInd Bank was the top gainer in the Sensex pack, rising nearly 6 per cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance Industries. NSE Nifty surged 183.70 points to close at 17,166.90.
The Raigad district administration has asked RIL to submit details regarding production and safety measures at the plant.
RIL's Dhirubhai-34, or R-Cluster field, in the flagging KG-D6 block was to produce about 13 million standard cubic metres per day of gas, equivalent to present day output from D1&D3 as well as MA fields, by 2017-18.
In the biggest ever deal in the Indian media sector, RIL will acquire control in Network 18 Media & Investments Ltd, including its subsidiary TV18 Broadcast Ltd.
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.
Based on a petition filed by Palem Srikanth Reddy, president of the Jana Palana Party, a division bench comprising justices G Rohini and T Sunil Chowdary issued notices and posted the matter on April 2 for further hearing.
The company should be given a fair chance to be heard in the matter, the judges said and posted the matter for further hearing on December 19.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances