The government has formed a four-member panel of secretaries to suggest a new gas pricing mechanism.
It executive director, PMS Prasad said that the company is only seeking clarity from government on rates for further investments decisions.
Move aimed at increasing US major's refining flexibility & scale.
In a surprise move, the Ministry had on October 10 moved a note to the Empowered Group of Ministers opposing a hike in price of RIL's KG-D6 gas before April 2014 even though the company itself was not seeking a revision before that date.
The Singapore-based arbitrator, SIAC, has rejected Future Retail's plea to lift the interim stay on its Rs 24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction. The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail. Future had contended before the SIAC that it should be excluded from arbitration proceedings because it is not a party to the dispute between its promoter Future Coupons Pvt Ltd (FCPL) and Amazon.
India's largest refiner, Reliance Industries Ltd, is in talks with public sector oil marketer Hindustan Petroleum Corporation for a tie-up to run the former's fuel retail outlets, closed a year earlier.HPCL has issued a limited tender to five merchant bankers to advise it on the deal.Last year, RIL closed 1,400 petrol pumps -- 900 owned by the company and the rest managed by dealers.
The extraordinary general meeting of Reliance Industries Ltd on Friday virtually cleared the demerger of group companies, with company chairman Mukesh Ambani submitting over 65 per cent 'proxy' votes in favour of the scheme.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
The government on Friday rejected Reliance Industries Ltd's demand for compensation equal to public sector oil firms, to make up for the losses it suffered on petrol and diesel sales.
Reliance Natural Resources Ltd chairman Anil Ambani is understood to have sought a review of the government's decision, rejecting the sale of natural gas by RIL to it.
Siding with Reliance group chairman Mukesh Ambani, the board of the flagship company RIL on Wednesday rejected objections raised by his younger brother and vice chairman Anil
The company will unfold its business plans going forward even as shareholders are seeking answers to the performance of the company's oil and gas exploration and production business.
Mukesh Ambani said new projects in petrochemicals and refinery business would come online in the next two to three years.
Also, the combination of a new entrant and new technology is not necessarily good.
In a disclosure to the Bombay Stock Exchange, Reliance Petroleum LTD said Chevron India Holdings has sold 22.50 crore shares, representing five per cent stake in RPL, to Reliance Industries. RIL has paid Rs 60 per share aggregating to Rs 1,350 crore, the same price at which the US firm had bought five per cent stake in RPL in April 2006.
RIL in August submitted a revised field development plan for the Dhirubhai-1 & 3, the only producing gas fields among a total of 18 gas discoveries made so far in the KG-D6 block in Bay of Bengal, sources with direct knowledge of the development said.
Reliance Industries Limited toppled Oil and Natural Gas Corporation on Thursday to grab the numero uno position with a market capitalisation of over Rs 1,96,000 crore (Rs 1.96 trillion) as against ONGC's Rs 1,93,653.29 crore (Rs 1.93 trillion).
Additional solicitor general Mohan Parasaran talks about the logic behind withdrawing the government affidavit in the RIL-RNRL gas dispute in the Bombay high court.
The JV was established for development of SEZs/Model Economic Township project and other infrastructure facilities in Haryana.
Corporate giant Reliance Industries Ltd has stopped lobbying with US lawmakers for the last two quarters, while the Indian government incurred an expense of Rs 3.7 crore (Rs 37 million) for such activities during the last financial year ended March 31, 2012.
India's latest bid round for 21 oil and gas blocks attracted just three bidders, two of whom were state-owned explorers Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL), according to upstream regulator DGH. As many as 21 blocks or areas were offered for exploration and production of oil and gas in the Open Acreage Licensing Policy (OALP) Bid Round-VI, for which bidding closed on October 6. Besides ONGC and OIL, Sun Petrochemicals was the only other company to have bid, according to 'Summary of Bids Received Against Offered Blocks' posted by the Directorate General of Hydrocarbons (DGH).
Future group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail. Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future Supply Chain Solutions - have informed their shareholders and creditors about the meetings which will take place on November 10 and 11. The meetings of the equity shareholders, secured creditors and unsecured creditors will be held through video conferencing /other audio-visual means, said Future group companies, adding that remote e-voting facility will be offered to all participants.
Talks under way for partnership model to provide last-mile connectivity to 4G users.
It is shut due to high water and sand ingress and it awaits regulatory nod to carry out urgent workover.
In what could be a prelude to Reliance Anil Dhirubhai Ambani Group claiming damages against Mukesh Ambani-controlled Reliance Industries for allegedly derailing the merger talks with South Africa's MTN group
Reliance Industries on Tuesday toppled state-run oil major ONGC to become the country's second most valued firm after TCS.
Dow Chemicals' acquisition of the Indian born billionnaire Raaj L Gupta headed speciality chemical company Rom and Haas for over $18 billion, is likely to impact its proposed joint venture with Reliance Industries (RIL) and expansion plans in India worth over $100 million.
Earlier, the listing agreement was a bilateral one.
After grappling with the issue for two years, the Ministry of Petroleum and Natural Gas had on November 21 ordered that the margin to be charged, over and above the gas sale price, should be fixed between the seller and buyers in all sectors other than urea and LPG.
Mukesh Ambani-controlled Reliance Industries is all set to shelve midway its ongoing share buyback programme -- which was opposed from the very beginning by younger Ambani scion Anil -- in the wake of the two reaching a settlement.
Consulting, other contracts may mean listing agreement violation.
RIL has so far drilled six wells on the MA oilfield, the only oil discovery among the 19 oil and gas finds the company had made in the eastern offshore KG-DWN-98/3 or KG-D6 block.
RIL signed agreement to take 45 per cent interest in highly prospective Eagle Ford Shale play, the Mumbai-based firm and Pioneer said in separate but almost identical statements.
"We had identified 10 countries for setting up the mega petrochemical plant. A working group (of GAIL and RIL) will shortlist three of the identified countries. We may then narrow on one or two for setting up of the mega petrochemical plant," GAIL Chairman and Managing Director U D Choubey told reporters. He, however, refused to name the 10 countries identified for the purpose.
RIL has sent a draft GSPA to Essar Oil and the contract may be inked within the next few days.
Mukesh Ambani-controlled Reliance Industries Ltd (RIL) is planning to spend $3 billion for a new petrochemical complex at Jamnagar.The new complex will utilise residual gases generated from the two existing refineries, of which one is located in a special economic zone (SEZ), to generate further downstream products."The investment could be in the range of $3 billion, depending on raw material prices," said a Reliance official on condition of anonymity.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
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