The blaze erupted around 7 am in the gas processing plant of the ONGC located in Uran area of neighbouring Navi Mumbai, an official said.
Reliance imported about 1.09 million bpd in January as it had cut runs at its older 660,000 barrels per day (bpd) plant by about 23 per cent from a year ago.
The conversion produces significantly more energy than it requires and results in transportation fuels -- diesel, for example -- that can be blended with existing ultra-low-sulphur diesels and bio-diesels, researchers said.
Indian industry will have to deal with high raw material prices, and user industries will see their costs rising though with a lag in some cases.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
Govt plans to stop RIL from selling crude to Jamnagar refinery.
Food prices, which have contributed to a large part of inflation over recent years, have remained benign, despite unseasonal rain.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
The Street expects lower earnings from RIL's shale business to be offset by the sharp uptick in refining margins and the gradual improvement in petrochemical earnings.
According to a source, banks have decided to infuse funds after Purnendu Chatterjee, chairman of The Chatterjee Group, agreed to invest Rs 100 crore (Rs 1 billion) as margin amount into the ailing plant.
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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
Strong refining and petrochemical margins seen boosting consolidated net by up to 6%
Reliance beat analyst expectations on almost all parameters
Refining major optimistic on planned investment of $16 bn for expansion and new technology to post healthy margins
There is nothing specific announced for Chemicals Industry, however, reduction in customs duty
Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
RIL has more than half a dozen undeveloped discoveries.
The growth, however, may not indicate a major revival of economic activity.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
The trouble is largest FDI projects in India have had a tragic history.
Duty cut on raw material imports are not likely.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Can Jaitley's team hope to garner 17% more on personal income tax?
Import duty on PVC, at 7.5%, is far lower than that prevailing in comparable economies.
Clean energy cess to hike cost for power sector.
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