Shares of Mukesh Ambani led Reliance Industries Ltd (RIL) fell as much as 2.1 per cent in the morning trade on Bombay Stock Exchange (BSE) on the reports that oil ministry has sent a fresh proposal to the cabinet demanding no hike in price of gas produced from D1 and D3 fields. The Cabinet Committee on Economic Affairs (CCEA) had earlier approved hike in the prices of gas, as per a new pricing formula. At 12:14 hours, shares of the company were trading at Rs 859.95 a piece, down 0.16 per cent from previous close on BSE. According to an Economic Times report, Oil Ministry has proposed that new price should be allowed only for new production.
Friday, 6 September 2013
Friday, 30 August 2013
The government has given a nod to Reliance Industries and BP's plan to invest USD 3.18 billion in R-series gas field in the KG-D6 basin, said PTI in its report.
The R-series gas field is expected to produce up to 13 million standard cubic meters gas.
According to the media reports, the operator is asked to expedite development of R-series discoveries to reverse falling output from the block, which fell to little less than 14 mmscmd from 62 in March 2010, government officials said. Currently, gas is produced from D1, D3 and MA fields in the KG-D6 block.
The approval was pending since January and recently the management committee of the block, which is headed by the director general of hydrocarbons, gave its nod to the operator to execute the plan to develop the satellite fields, collectively known as R-series. RIL is the operator of the block with 60 per cent stake. BP and Niko Resources are other partners in the block with 30 per cent and 10 per cent stakes, each.
Thursday, 29 August 2013
The Management Committee, headed by Directorate General of Hydrocarbons (DGH) has approved the proposal of Mukesh Ambani-led Reliance Industries Ltd. (RIL) and its UK-based partner BP Plc to invest USD 3.18 billion in R-Series gas field in KG-D6 block, said the media reports. Subsequent to the approval from the block oversight committee, the consortium will be able to proceed with its plans to produce 13-15 million standard cubic meters per day of gas for 13 years from D-34 discovery in the KG-D6 block, the report stated.
Tuesday, 27 August 2013
Country’s largest private sector enterprise Reliance Industries Ltd on Monday said the Company has allotted 1,03,471 equity shares of Rs. 10 each, on August 22, 2013, pursuant to the Employees Stock Option Scheme.
The Mukesh Ambani-owned company is the third largest publicly traded company in India by market capitalisation and is the second largest company in India by revenue after Indian Oil Corporation.
On February 1, 2013, RIL had a market cap of Rs 2,88,544 crore.
Monday, 26 August 2013
Reliance Industries Ltd has informed BSE that the Company has allotted 1,03,471 equity shares of Rs. 10/- each, on August 22, 2013, pursuant to the Employees Stock Option Scheme
Friday, 23 August 2013
Reliance Industries Limited (RIL) and BP on Friday announced a new gas condensate discovery off the east coast of India in the Cauvery basin.
The discovery, in the deepwater block CY-DWN-2001/2 (CYD5), is situated 62 kilometers from the coast in the Cauvery Basin and is the second gas discovery in the block.
RIL is the operator with 70 per cent equity and BP has a 30 per cent share in the block.
Preliminary evaluation of well data and fluid samples indicated presence of gas condensate in the reservoir interval with a gross column of 143 meters. The well reached its total depth in early August and RIL, as operator, has conducted drill stem test (“DST”) to evaluate the potential of the discovery, Reliance Industries said in a press release.
The Government of India (GoI) and Directorate General of Hydrocarbons have been notified of the discovery, named D-56, the release said.
Reliance Industries Ltd has informed BSE regarding a Press Release dated August 23, 2013 titled "RIL-BP Announce New Deepwater Gas Condensate Discovery in Cauvery Basin".