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ONGC opens Helium extraction plant

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The government said oil companies would get 50% of revenue loss as bonds in FY08, reports. “Total bond issue to oil companies for FY08 stands at Rs 35,300 crore.”
Earlier in the day, the Finance Ministry had opposed issue of oil bonds covering 57% of under recoveries of oil marketing companies. The Oil Ministry said the […]

In line with its plans to set up greenfield projects outside India, Mukesh Ambani’s Reliance group is considering setting up a polypropylene unit in Kuwait.
Reliance Petroleum Ltd (RPL) has begun the spadework, and is in the process of completing necessary surveys for the project, company sources said.
The company already has operations in the Gulf states […]

Reliance Industries Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from May 10, 2008 to May 17, 2008 (both days inclusive) for the purpose of payment of dividend

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Reliance Industries Ltd has informed that the 34th Annual General Meeting (AGM) of the members of the Company will be held on June 12, 2008.

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Can you be penalized for following government orders? According to the income-tax department, you can. The department has slapped a Rs 1,768.49 crore claim on state-owned flagship explorer Oil and Natural Gas Corporation for giving discounts on crude to public sector oilmarketing companies under orders from the government.
Under government’s burden-sharing formula decided by the Cabinet […]

Royal Dutch Shell is believed to be considering a bid to acquire up to 30% stake in Reliance Industries’ (RIL’s) discovered gas block in the Krishna-Godavari basin. Shell’s bid could be around $6.7 billion. This will value RIL’s D-6 block, with reserves of 14 trillion cubic feet (tcf) of gas, at over $22 billion. An […]

Mukesh Ambani’s Reliance Industries (RIL) has initiated talks with global majors to offload upto 10% stake in its D-6 block in the Krishna Godavari (KG) basin.
The company is learnt to have mandated Goldman Sachs to scout for a strategic partner in lieu of technology for further exploration and production.
ET was the first to report on […]

The Bombay High Court on Friday will start hearing the Reliance Natural Resources (RNRL) Reliance Industries (RIL) case over the vexed gas supply issue on a day-to-day basis. The court on February 25 adjournment the matter as RNRL senior counsel Mukul Rohtagi was injured following an accident.
The outcome of the case will have enormous implications […]

A consortium comprising Reliance Industries (RIL) has made a significant oil discovery in Yemen, where RIL founder Dhirajlal Hirachand Ambani had once worked as a petrol pump attendant before returning to India to rewrite Indian business history.
The discovery in Block 9 in Qarn Qaymah 2 well is learnt to be significant, and RIL is in […]