India’s Reliance Industries is seeking three liquefied natural gas (LNG) cargoes for delivery, with one a month in July, September and October, two industry sources said on Friday.
The proposed deal between oil-to-telecom behemoth Reliance Industries (RIL) and Saudi Aramco for a 25 per cent stake sale in Jamnagar refinery has hit a roadblock. Quoting sources, ETNOW reported this morning that the talks have got stalled over valuation concerns.
The Mukesh Ambani-led Reliance Industries (RIL), which was about half the size of Indian Oil Corporation (IOC) till nearly 11 years ago, has displaced the public sector refiner as the biggest company by revenue.
Reliance Industries Ltd plans to shut a 330,000 bpd crude unit at its India market-focused oil refinery in western Gujarat state for 2-4 weeks for routine maintenance from mid-June, two industry sources with knowledge of the matter said on Friday.
Reliance Industries Saturday said it is not in violation of the US sanctions on Venezuela and had purchased crude originating from the Latin American nation from companies such as Russia’s Rosneft in full knowledge of US authorities.
Even as the giant pact between Mukesh Ambani-led Reliance Industries and world’s most profitable firm Saudi Aramco continues to hog limelight, analysts say that the potential deal will help RIL in de-risking and de-leveraging.
Share price of Reliance Industries rose nearly 3 percent intraday on April 18 after a Japanese firm said it will acquire a strategic stake in six group companies. Reliance Ethane Holding Pte.
Saudi Aramco’s maiden investment in India’s downstream sector is facing an uncertain future. The world’s most profitable company seems to have now set its eye on picking up stake in Reliance Industries’ already entrenched refining and petrochemical business, according to media report.
Japanese shipping group Mitsui OSK Lines Ltd will add six very large ethane carriers (VLECs) to its fleet through an investment deal with Reliance Industries Ltd, the Indian conglomerate said on Wednesday.
Reliance Industries, operator of the world’s largest oil refining complex, Friday said it has never sidestepped US sanctions against Venezuela and has completely stopped supplying fuel to the Latin American nation.