Reliance Industries clarifies on news item
Reliance Industries Ltd has received the prestigious Golden Peacock Innovation Award for the year 2005 in the petroleum sector.
In the last two years, there have been at least three instances of the government actively stepping in on Mukesh Ambani's side.
The government on Thursday rejected demand of private retailers, including Reliance Industries Ltd, for compensation equal to public sector oil firms to make up for the losses it suffered on petrol and diesel sales.
The Ambani brothers, Tata group, GVK Group, GMR Group and Larsen & Toubro are among the top players bidding for the greenfield Navi Mumbai airport, the second airport project in Mumbai.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.
In all, Reliance has a stake in 34 exploration blocks in the country.
Sources close to the development said RIL, which was planning two adjacent economic zones in the coastal district of Raigarh in Maharashtra, is looking to set up three special purpose vehicles (SPVs) to develop the various components of the project.
The National Commodity and Derivatives Exchange Ltd plans to rope in oil companies like Indian Oil Corporation and Reliance Industries Ltd to boost Brent crude futures trading on the bourse.
In January 2006, Reliance Industries Ltd had paid Rs 1.5 lakh a square metre for an international convention-and-exhibition centre covering 75,000 square metres in the same locality.
Mukesh Ambani, Chairman of Reliance Industries Ltd, has won this year's prestigious World Communication Award as the world's most influential person in telecommunications in 2004, said a company release.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
Fitch Ratings has upgraded Reliance Industries Ltd's (RIL) rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. In a statement, Fitch said it has upgraded RIL's long-term foreign-currency issuer default rating (IDR) to 'BBB', from 'BBB-', with a negative outlook. At the same time, the agency has affirmed RIL's long-term local-currency IDR at 'BBB+' with a stable outlook.
RIL accounted for over a quarter of the country's LPG production of around 8.5 million tonnes per annum (mtpa) last year. Around 2.5 mtpa LPG - the only petroleum product in which India is not self-sufficient - was imported last year to meet the domestic demand of 11 mtpa. RIL is planning to cut LPG production at Jamnagar from 2.3 mtpa to around 1.6 mtpa from mid-2008 following the grant of export-oriented-unit (EoU) status to the refinery.
Reliance Industries Ltd is in talks with Haryana Agricultural University for possible cooperation in research and manpower development.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
Employing the best in business and emphasis on training Reliance petroleum's downstream business is stewarded by the very best in business.
Larsen and Toubro Ltd said on Monday it has bagged Rs 800-crore (Rs 8 billion) contract from Reliance Industries Ltd for construction services and supply of electrical systems for its SEZ refinery and petrochemical project in Jamnagar, Gujarat.
With Rs 67,550 cr, Reliance leads investors' pack to Vibrant Gujarat.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Mukesh Ambani-led Reliance Industries announces net profit of Rs 3,912 crore (Rs 39.12 billion) for the quarter ended March 31, 2008.
On April 29, the Bombay High Court will start hearing the case between the warring companies, Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL), to reach a quick decision on who will get access to the huge volumes of gas to be produced from RIL's block in the Krishna-Godavari basin. The court will also decide if the central government will be admitted as a party to the case. RNRL would oppose the central government's move to become a party to the case.
Reliance Industries Ltd chairman and managing director Mukesh Ambani met Prime Minister Manmohan Singh
NITIE, Mumbai, invites students and working professionals for Samiksh, a panel discussion on VAT: Implications On India Inc.
Mukesh Ambani's Reliance Industries Ltd is preparing to apply for permission to set up a nation-wide broadband telecom network for internal (non-commercial) use.
The price surge at Jhajjar has more to do with skyrocketing land prices near the SEZ site plus a recent rumour that the Haryana government may increase the minimum price for land acquisition to more than Rs 55 lakh (Rs 5.5 million) per acre.
The government is likely to clear the price quoted by Reliance Industries Ltd for its gas from the Krishna-Godavari basin without seeking to control the price.
A company executive, who did not want to be identified, said the combined debt of RIL and its subsidiary, Reliance Petroleum, which is being merged with it, would be brought down to around Rs 57,000 crore this year from Rs 72,000 crore at present.
Reliance Industries Ltd, which rolled out its first retail store Reliance Fresh on Friday, may start futures trading to mitigate the price risk but the move depends on achieving sufficient volumes after expansion of the retail format.\n
Reader Ananth Kamal sent us this photograph from New Jersey, USA.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
Reliance Industries Ltd (RIL) has once again shut down crude oil production at its predominantly gas-rich KG-D6 block to hook up more wells that will raise the output to a peak of 40,000 barrels per day.
Oil regulator DGH has recommended stiff penalties on state-owned Oil and Natural Gas Corp and Reliance Industries Ltd for default on commitments made by them on oil and gas exploration blocks awarded under NELP.
RIL has raised the marketing margin to $0.15 per million British thermal unit from $0.12 per mmBtu earlier, a source said. The rate, which would be charged over the $4.20 per million British thermal unit base gas price, is however lower than the $0.18 per mmBtu margin charged by state-run GAIL. The increase, he said, was due to the additional risk of 'ship-or-pay,' an obligation under which the company would be obliged to transport the committed volumes or pay for the gas.
