Reliance Industries Ltd (RIL) has completed the sale of its interest in one of the three shale gas assets to BKV Chelsea LLC.
Indian oil firms reported a mixed trend in their September quarter financial results. Industry gross refining margins (GRMs) were healthy during the quarter, a consequence of the supply disruption in the US Gulf Coast refineries owing to the impact of Hurricane Harvey.
Thanks to increased demand, liquefied petroleum gas (LPG) or cooking gas has become the favourite of all energy companies in India, including international players.
Indian oil-to-telecoms conglomerate Reliance Industries Ltd has agreed to sell a shale oil and gas block in the United States for USD126 million, a third of the price it paid seven years ago, amid a downturn in global oil prices.
Reliance Industries ltd has jumped five places to rank as the worlds third-biggest energy company behind Russian gas firm Gazrpom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings.
Billionaire Mukesh Ambani’s Reliance Industries Ltd. and its partner BP Plc are reviving investment plans for a gas block close to a military missile launching facility in the Bay of Bengal.
RIL To Foray Into New Materials Business
Reliance Industries Ltd. participated in an on-line e-bidding process held recently by Allahabad Bank being leader of the consortium of 11 Banks to sell / dispose off assets of “Kemrock Industries & Exports Limited” of Vadodara (Gujarat) and has been declared as the winner in the said bid.
Reliance Industries Ltd’s shares have gained 52% in the last 52 weeks, giving huge bonanza to the investors in the heavyweight blue-chip company, helped by its investments in telecom, petrochemicals and retail businesses bearing fruit.
India wants $300 billion in investments over the next 10 years to satisfy accelerating demand in the world’s fastest-growing oil market.
Reliance Industries Ltd. and BP Plc will withdraw the arbitration against the government on the pricing of gas from the D6 block of the Krishna-Godavari basin.