RIL said it had launched 'an internal probe' into its staff's detention.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
Reliance Industries Ltd plans to invest over Rs 4,500 crore (Rs 45 billion) in laying 5,895 km of product pipelines across the country as a precursor to begin the retailing of petrol and diesel.
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
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).
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market.
It calculated that the government should have got an additional profit share of $ 115.263 million.
Gas pricing guidelines stipulate that a new gas price will apply to all producers except RIL.
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'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
A charge-sheet against Chandra and 12 others was filed.
Making sense of the international crude market is incredibly hard.
Cairn India is 25th on the list with 22.2 per cent CGR.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
In a presentation prepared for the incoming Narendra Modi-government, the ministry listed national oil companies losing focus on domestic exploration as well as legal disputes around signed contracts with private explorers among the five things that went wrong during the United Progressive Alliance regime.
Oil Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from recovering $2.376 billion invested to develop offshore Krishna Godavari gas fields as output has fallen drastically and was way below the promised volumes in past four years.
A bench headed by Chief Justice P Sathasivam sought response from the Centre and RIL on a PIL filed by Communist Party of India Member of Parliament Gurudas Dasgupta who alleged that no due diligence was done by the government while increasing the price of natural gas.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
Analysts said the higher capex by PSUs, along with government spending, could trigger a capex revival for the corporate sector by the second half of FY17
Centre and state governments are steadily increasing excise duties and value-added tax
Business opportunity after phased diesel deregulation the main trigger.
The commission asks for notification to be deferred; RIL's KG-D6 pricing issue may return to Cabinet
The first task before him is to get used to the idea of working with the Monetary Policy Committee
Inputs by the Petroleum Ministry were found among stolen documents.
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The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
The low global crude prices have helped narrow the current account deficit to just 0.2 per cent of GDP in the previous January-March quarter.
Delhi Police claims that the FIR reveals serious cognizable corruption & cheating offences, so matter is within its jurisdiction.
To proceed with a Cabinet proposal to grant the relaxations to RIL, the Election Commission's approval will be sought.
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