The standalone net profit of Reliance Industries (RIL) rose 6 percent in 2012-13 on a year-on-year (y-o-y) basis to Rs 21,003 crore, while its revenue rose 9.2 percent to Rs 3.71 trillion. The company attributed the growth in earnings largely to strong and improved refining margins during the year
Author: admin (Infratructure Today)
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Under-recoveries of PSU OMCs may decline
Under-recoveries of state-run oil marketing companies (OMCs) may decline owing to the fall in the price of crude oil in the international market, ratings agency Crisil said. Under-recovery refers to the difference between the purchase price of crude oil and the retail price at which
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RIL submits proposal to relinquish low prospectivity area
Reliance Industries (RIL) has submitted to the government a proposal to relinquish low prospectivity area in its eastern offshore KG-D6 block, the company informed this in an investor presentation. Out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block, only 3,412 square kilometer of area will be retained, the firm
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RIL’s US shale assets produce 11 mmscmd gas
Reliance Industries (RIL) produces 11 million standard cubic metre per day (mmscmd) of natural gas from its shale gas operations in the United States. This is higher than the company's share of 9.6 mmscmd gas from its Krishna Godavari basin (KG D6) in the Bay of Bengal. While gas output from KG Basin is a littl
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Crude oil price falls on weak economic growth prospects
Amid signs of deterioration in the global macroeconomy, investors are reducing their long position in crude oil and this caused the Brent crude oil futures to decline below $100 a barrel. This is for the first time in nine months that the Brent crude oil futures slipped below $100
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GOL Offshore may sell assets to repay loans
Media reports indicate that GOL Offshore may use its unencumbered assets to raise funds for repaying the FCCB, which was due for redemption in October. While the company was to repay the bond holders in October 2012, it sought extension of the repayment period till April, which the bondholders rejected
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Govt aims to award 30 port projects in FY14
Union Shipping Minister GK Vasan informed a parliamentary consultative committee in Mumbai that the ministry aims to award 30 projects worth Rs 24,633 crore in 2013-14. These projects may increase capacity of ports in the country by 288.48 million tonne, the minister said. Further, the minister pointed out that the achie
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Analysts cast doubt on output forecast of ONGC
Some analysts cast doubt on the guidance given by Oil and Natural Gas Corporation (ONGC) for crude oil production in 2013-14 because the company derives 72 per cent of its output from fields which are 37-52 years old
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IGL strengthens infrastructure for CNG distribution
New-Delhi based Indraprastha Gas (IGL) is in the process of strengthening its infrastructure so as to meet the increasing demand of CNG from the growing number of CNG vehicles in Delhi.
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RINL to expand capacity by raising debt
AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said the firm plans to mop up Rs 400-500 crore through debt market in the near future. Speaking on the sidelines of a steel summit, he said the company plans to use the fund for expansion plans. But he did not disclose the timeline for the proposed fund raising plan