Downstream oil sector regulator Petroleum & Natural Gas Regulatory Board had been pushing for cancellation of the authorisation given to RGTIL.
The ministry refused to buy RGTIL's argument that the government has already allocated all of the projected mmscmd of gas output from the KG-D6 fields to customers in Andhra Pradesh, Maharasthra and other northern states, leaving no gas for transportation through its proposed pipelines from Kakinada to Howrah, Chennai, Tuticorin and Mangalore.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
It also demanded Prime Minister Manmohan Singh to clarify on supply of gas and its price from RIL-operated fields.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
Very little notice, however, has been taken of the fact that Reliance Gas Transportation and Infrastructure Ltd, which set up the pipeline network for transport of this gas which has had rival users clamouring for government priority, is no longer owned by RIL, but by the latter's chairman and managing director, Mukesh Ambani. The change took place three years earlier and went largely unnoticed, even though RGTIL is crucial for RIL's burgeoning gas business.
Oil regulator PNGRB on Monday approved the tariff that Mukesh Ambani-owned East-West pipeline will charge for transporting gas from Reliance Industries' eastern offshore KG-D6 fields to users.
The company had a total debt of Rs 16,010 crore (Rs 160.1 billion).
The list includes CAG's request dated July 2, 2012 for information on award of contract for laying of a 1,395-km pipeline by Mukesh Ambani-owned Reliance Gas Transportation Infrastructure Ltd for shipping KG-D6 gas from east coast to the west.
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.
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.
Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday. Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
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.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
'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.
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