Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
Continue reading "Advantage: Crude"
Thursday, June 25, 2009
Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. For full story, click here
Continue reading "Sinopec has sought Capacity, Reserves with Addax Bid"
Thursday, June 18, 2009
Reliance Industries have imported about 23 percent more crude in May than a year ago, widening its crude slate as it made rare purchases of 28 and Marlim Light. For full story, click here
Continue reading "Reliance May Crude import surged 23% more"
Monday, April 27, 2009
Reliance Industries has resumed crude oil production from its predominantly gas-rich KG-D6 block after more than a month-long planned shutdown for connecting new wells. For full story, click here
Continue reading "Reliance resumed crude oil production from KG-D6 block"
Tuesday, March 17, 2009
Reliance Industries and Essar Oil announced that the two companies are keen on buying crude oil from Cairn India’s Rajasthan fields even as the Petroleum Ministry struggles to find takers of the nation’s most prolific oil discovery among public sector firms. For full story, click here
Continue reading "Reliance and Essar keen on buying crude oil from Cairn"
Monday, March 16, 2009
The Centre for Monitoring Indian Economy reported that crude oil output is likely to climb by 4.8 per cent touching 36.14 million tonnes in the next fiscal, riding on the back of oil production by Reliance Industries from its KG D6 wells coupled with capacity addition by other private and joint venture firms. For full story, [...]
Continue reading "Crude oil output likely to go up"
Thursday, March 12, 2009
Reliance Industries announced that it has resumed crude oil production from its predominantly gas-rich KG-D6 block after a three-month shutdown, which was forced by an equipment failure. For full story, click here
Continue reading "Reliance Industries resume crude oil production"
Wednesday, March 4, 2009
Indian energy giant Reliance Industries’ top upstream official stated that $60 a barrel is the “right” price for valuing potential oil exploration acquisitions as prices are expected to push up by 50 percent in coming few years. Atul Chandra, who is charged with driving Reliance’s upstream expansion, stated: For the current scenario, $40 is a fair price [...]
Continue reading "Reliance quotes price per barrel for future acquisitions"
Tuesday, March 3, 2009
When California-based refining giant Chevron acquired 5 per cent stake in Reliance Petroleum in April 2006, just weeks before the Mukesh Ambani firm’s initial public offer, it was hailed as Big Oil’s first serious entry into Indian oil refining. For full story, click here
Continue reading "Why RIL-Chevron honeymoon ended abruptly"
Monday, March 2, 2009
Mukesh Ambani-owned Reliance Industries Limited board on Monday agreed to merge with its refinery subsidiary Reliance Petroleum Limited, creating it into one of the largest refiners in the world. RIL CFO Alok Agarwal said: The integrated energy companies would have higher valuations as against the standalone refiners. The merger would unlock synergies in crude sourcing and product [...]
Continue reading "Reliance industries to merge with RPL"
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Thursday, October 8, 2009