At its 39th annual general meeting (AGM) in Mumbai, Mukesh Ambani, Chairman of Reliance Industries (RIL) informed that the firm plans to invest Rs 1.5 lakh crore over the next three years. He remarked that the firm is investing the largest capital in India by any enterprise public or private, Indian or foreign and this is an expression of the faith of Relia
Tag: RIL
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Power plants to get RIL’s gas under swap deal
Under a so-called gas swapping arrangement, Hyderabad-based Bhagaynagar Gas (BGL) and power plants in Andhra Pradesh would get natural gas from Reliance Industries' KG-D6 fields. The gas would be supplied to BGL and power plants in Andhra Pradesh by diverting a part of gas allocated to Rashtriya Chemicals and Fertilizers (RCF) from RIL's fields
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Fitch affirms ratings for RIL
Fitch Rating affirmed Reliance Industries' (RIL) long-term foreign currency issuer default rating at 'BBB-' and LT local currency IDR at 'BBB'. In a statement, the agency said the outlook on the foreign currency issues default rating is stable while the same for local currency IDR is positive
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New gas finds may raise output of RIL
Some analysts expect that the new gas finds of Reliance Industries (RIL) in the KG-D6 block may raise the production of natural gas from the asset. RIL has recently announced a major gas find more than 4 km below the sea bed and 2 km directly
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DGH not inclined to clear RIL proposal
The Directorate General of Hydrocarbons (DGH), the technical arm of the union petroleum ministry, is not in favour of approving the Reliance Industries' (RIL) proposal to conduct separate testing for D-29, 30 & 31. Earlier in May, the firm sought permission for conducting separate tests at its three gas discoveries i.e D-29, 30 & 31. This is a shift away from the com
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RIL asked to clarify certain things in revised plan
Minister of State for Petroleum & Natural Gas Panabaaka Lakshmi informed Rajya Sabha that the government sought clarifications from Reliance Industries (RIL) on the revised field development plan (RFDP). It may be noted that the company submitted RFDP for D1 & D3 fields, the main gas producing fields in the eastern offshore KG-D6 block, with downward revision in reserves
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Private fuel retailers prefer export over local sales
Media reports indicate that private fuel retailers like Essar Oil, Reliance Industries (RIL) prefer to export diesel instead of selling them in the domestic market despite the government partially de-regulating the pricing regime. This is because these firms fear that the government may again impose price control on diesel during election perio
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DGH calls for review of DoC for RIL’s block
Media reports suggest that the Directorate General of Hydrocarbons (DGH) asked the union oil ministry to convene a meeting of the Management Committee (MC) to review the Declaration of Commerciality (DoC) for D-35 block. The block, which is also named CY-DWN-2001/2 block, was discovered by Reliance Industries (RIL) in 2007
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EGoM to meet soon to discuss panel recommendation
The Empowered Group of Ministers (EGoM) which is looking into the issue of natural gas pricing and allocation may meet soon to consider the recommendation of Rangarajan Committee on the issue. It may be noted that the finance, power and fertiliser ministries as well as gas producers are opposed to th
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RIL may invest Rs 1.5 trillion in core businesses
Media reports indicate that the various businesses of Reliance Industries (RIL) may get Rs 179,000 crore investment in the next five years. Of the total amount, the firm may invest about Rs 151,000 crore towards core oil, gas, refining and petrochemical sectors in the next five years; the rest would go towards the t