In a move that may boost oil and gas output in the country, the union petroleum ministry decided to allow exploration in mining lease area with cost recovery on establishment of commerciality, the ministry said in an order. Thus, oil companies would be allowed to explore in already producing areas and all approved exploration cos
Tag: Reliance Industries
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RIL may sell stake in hydrocarbon block
Directorate-General of Hydrocarbons (DGH) received a request from Reliance Industries (RIL) to allow it to transfer its equity in a hydrocarbon block offshore Gujarat-Saurashtra region to Hardy Oil & Gas. This shallow water block -GS-OSN-2000/1- was awarded to the consortium of RIL (90 per cent) and Hard
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RIL may sell stake in hydrocarbon block
Directorate-General of Hydrocarbons (DGH) received a request from Reliance Industries (RIL) to allow it to transfer its equity in a hydrocarbon block offshore Gujarat-Saurashtra region to Hardy Oil & Gas. This shallow water block -GS-OSN-2000/1- was awarded to the consortium of RIL (90 per cent) and Hard
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CAG, RIL differ on audit of KG D6 block
Media reports suggest that the Comptroller and Auditor General (CAG) of India and Reliance Industries (RIL) are sparring over the scope of the audit for the KG-D6 natural gas fields. On January 17, the CAG has reportedly wrote to the oil ministry saying that RIL was not co-operating with the auditors due to differences over the scope of the audit
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CAG, RIL differ on audit of KG D6 block
Media reports suggest that the Comptroller and Auditor General (CAG) of India and Reliance Industries (RIL) are sparring over the scope of the audit for the KG-D6 natural gas fields. On January 17, the CAG has reportedly wrote to the oil ministry saying that RIL was not co-operating with the auditors due to differences over the scope of the audit
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RIL plans multi-purpose telecom towers
Reliance Industries plans to set up three-in-one telecom towers, starting with Mumbai, as it readies to launch fourth generation telecom services across the country. RIL is slated to launch 4G operations this year through its subsidiary Infotel Broadband.Infotel Broadband plans to set up towers that would support its 4G equipment (base transceiver stations) and video cameras for street surveillance.
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Private firms eye bulk diesel sale market
Media reports suggest that private fuel retailers like Essar Oil, Reliance Industries (RIL) would attempt to grab the share of the bulk diesel customer market after the government de-regulated pricing in the segment. The government allowed oil marketing companies (OMCs) to charge market price for bulk customers of diesel, that include railways, industrial users and State Trans
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RIL drills 54 new wells in US shale gas projects
Weekly Insight learns from media reports that Reliance Industries (RIL) has drilled 54 new wells in three shale gas projects in America. During the first nine months of 2012-13, the company witnessed 16 per cent sequential growth in prod
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RIL to borrow $500 mn from foreign investors
In order to fund its exploration activity and also for the expansion of its petrochemical business, Reliance Industries (RIL) is in the process of borrowing up to $500 million (Rs 2,701 crore) through issue of perpetual bonds to foreign investors. The company decided to borrow abroad despite sitting on a cash pile of around Rs 75,000 crore because it wa
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RIL gets no order to stop work at KG block
Government has not ordered Reliance Industries (RIL) to stop work at any of its KG-D6 gas fields and other blocks that figure in the list of 14 areas that have been classified as "No-Go" areas by the Defence Ministry, company sources said. It may be noted that RIL's KG-DWN-98/3 or KG-D6 block is declared as "No-Go" as it overlaps with a prop