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 [...]
India’s Reliance Industries will import around 25 percent less crude oil on contract from Iran in 2009 in favour of cheaper oil from outside the Middle East. For more information, click here
BP and Reliance Industries signed a production sharing contract for the block KG-DWN-2005/2 with the Indian government. For full story, click here
Reliance Industries is set to double its capacity by starting up its new 580,000 barrels per day plant (bpd) this weekend, creating the world’s biggest refinery just as global oil demand collapses. For full story, click here
Export-Import Bank of the US has come under attack from a group of American Congressmen for a ‘perfunctory’ due diligence on India’s top corporate entity Reliance Industries and failing to detect its ties with Iran. For full story, click here
Reliance Industries has failed to deliver the second consignment of crude oil from its eastern offshore Krishna-Godavari basin D6 block to Chennai Petroleum Corp Ltd, as output from the field has been erratic. For full story, click here
Reliance Industries has failed to deliver the second consignment of crude oil from its eastern offshore Krishna-Godavari basin D6 block to Chennai Petroleum Corp Ltd, as output from the field has been erratic. For full story, click here
Reliance Natural Resource filed “chamber summons” to cross examine the under secretary in the petroleum ministry in the Bombay High Court. For full story, click here
India’s Reliance Industries plans to test-run its huge new refinery by September, as per company officials. An official was quoted as saying: Trial runs will begin in August-September as we started filling tankages this month only. Click here for more information
The lack of availability of rigs prevented Reliance Industries and Oil & Natural Gas Corp (ONGC), two of India’s biggest oil explorers, to benefit from record crude oil prices in the first six months of this year. For full story, click here
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