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: RIL
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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 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
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Oil ministry seeks speedy nod for 20 blocks
Of the 52 oil and gas blocks which are awaiting clearances from the defence and environment ministries, the oil ministry plans to request Cabinet Committee on Investment (CCI) to expedite nod for 20 offshore exploration blocks. Speedy clearance for these blocks would benefit prospective contractors like RIL, Cairn, BP, BHP Billiton, ONG
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Refining segment dominates RIL’s earnings
The operating profit or Ebit (earnings before interest, tax) of Reliance Industries (RIL) from refining and marketing rose 115 per cent to Rs 3,615 crore during October-December 2012 from the year-ago period. But the company's Ebit margin from oil and gas declined 54 per cent to Rs 590 crore against Rs 1,294 crore in the corresponding previous quarter. The petr