The company's junior partner in block KG-DWN-2003/1 (or D3) Hardy Oil and Gas said there were 'unresolved mechanical issues' with Transocean's rig 'Deepwater Expedition' which was drilling an exploration well on the block.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
RIL counsel said the government had lured RIL to explore, develop and produce gas in the KG basin, before saying the gas produced was a natural resource of the nation, and imposing unviable price control.
E&P surprises in the quarter; analysts expect the gains from higher output and prices to reflect in coming quarters.
State-owned Oil and Natural Gas Corp (ONGC) may have won a large oil block in Venezuela but the Petroleum Ministry wants Reliance Industries to join the project to give stability to the venture.
RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry, including for deep-water oil and gas exploration and production.
Of the 10 coal bed methane blocks on offer, bids were received only for 8. RIL bid for one block. Of the 24 deep water blocks on offer, bids were received only for eight.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
HR Guru Mayank Rautela offers practical advice.
British Petroleum chairman Sir John Browne is likely to visit India next month to explore oil and gas opportunities in Asia's third largest economy.
Most of the markets it is now looking at in hopes of gaining the next billion internet users have demographics similar to that of India.
Move aimed at increasing US major's refining flexibility & scale.
The two firms are likely to bid in Peruvian government auction of 22 blocks with hydrocarbon potential, he said, adding that the auction was scheduled to open in September. Earlier this year, Reliance acquired 90 per cent stake in an oil block in the Andean region of Puno in Peru from Irisn company Pan Andean Resources.
On the sidelines of crude oil price rise, Indian oil majors including Reliance Industries, Oil and Natural Gas Corporation and Essar Oil are eyeing exploration opportunities at the oil-rich sand beds of Alberta in Canada. The firms are believed to be drawing up plans in consultation with the central government and considering tie-ups with international firms for sand-oil exploration.
The newly formed Cabinet Committee on Investment will soon consider clearing 47 oil & gas blocks, including Reliance Industries' producing KG-D6 gas fields, where defence clearance has either been withdrawn or withheld.
P-note is, however, now not a preferred route for investing in India as Sebi has made registration easier and also desirable for FPIs.
As Wal-Mart's disclosures on lobbying generated political heat in India, records with American House of Representatives show that around 27 Indian companies have spent money on lobbying in the US.
Oil and Natural Gas Corp, Reliance Industries and Indian Oil Corp, the nation's biggest companies, are coming together for the first time, to bid jointly for a vast oilfield in Venezuela, which will require an investment of $16-18 billion.
Oil Minister M Veerappa Moily on Friday said petroleum ministers are "threatened" by import lobbies not to take decisions that will cut India's $160 billion oil imports.
Apparel makers are hopefully eyeing the Indian womenswear and lingerie market in the New Year.
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.
First right of refusal may be limited to firms working under NELP, leaving out pre-NELP blocks run by big firms such as RIL and Cairn India.
We must seize the opportunity provided by the COVID-19 crisis to kick-start indigenous research efforts, recommends Colonel Anil A Athale (retd).
Sharp decline in production from flagship Krishna-Godavari basin has changed the business mix for the company.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
The companies want to drill exploration wells in already producing oil and gas fields.
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.
As part of its expansion plans, Jio has announced the roll-out of Internet of Things (IoT) services in association with Samsung, which will help consumers and enterprises.
It is still almost imperceptible. But the jostling in India's private sector for a position in what promises to become one of the country's biggest industries has already begun.
Morgan Stanley, the global financial services company, says India's largest private sector company (by market value) might lose 11 per cent of its earnings per share in 2014-15 earnings estimates if gas prices remain at $4.2 a unit.
Take the rediff business quiz and see how much you know about India and its largest private sector company, the Reliance Group.
RIL had got the block in an intensely fought auction by submitting better commercial and technical bids than other bidders including ONGC-GAIL and Cairn Energy.
RIL sources said the company has not received any communication from the government to stop work in KG-D6 or any other blocks.
The Venezuela-based company is also in talks with ONGC for exploration of Ayacucho and Boyaca fields.
"There are five Indian and six foreign companies which have submitted expression of interest (EoI) for buying stake in the gas transportation company (RGTIL)," a source privy to the development said.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances