Mukesh Ambani’s Reliance Industries Limited (RIL) along with BP and Niko, key partners in the KG-D6 block, is expected to announce a bank guarantee of $120-135 million (Rupees 750-850 crore) to get the benefits of higher gas price. This estimate is based on the proper formula devised by the Rangarajan Committee. As of now though, […]
RIL and BP may have to give a $1.2 billion bank guarantee for high gas price
Mukesh Ambani’s Reliance Industries Limited(RIL) along with its partners, British Petroleum, the world’s fifth largest oil & gas company and Niko Resources of Canada may have to give a bank guarantee of $1.2 billion over three years to get approval from the government to double the rate of natural gas produced from the main fields […]
Reliance Industries gets Government Clearance for Gas Price Hike
Reliance Industries Limited (RIL) received good news on Friday, 20th December when the Cabinet Committee on Economic Affairs (CCEA) allowed the company to sell KG-D6 block gas at a higher price with effect from April 2014. The one condition that the committee has laid down is that the Mukesh Ambani led giant will have to […]
“Nation must continue to pursue policies that lower energy costs for American families and improve our energy security”, said Rep. Thompson
On December 10, 2013 Rep. Glen Thompson of Pennsylvania asked for and was granted permission to address the United States House of Representatives for one minute regarding natural gas production in the United States. “Mr. Speaker, in October, natural gas production in the Marcellus shale region reached 12 billion cubic feet a day. That is […]
RIL to invest $3.2 billion to bring gas from D34 into production
Mukesh Ambani owned Reliance Industries Limited (RIL) has said it will invest $3.2 billion in bringing to production the satellite D34 gas discovery following the decline in output at the KG-D6 block in the Bay of Bengal. D34 holds 1.2-1.4 trillion cubic feet of gas reserves and will start production in four years with a […]
RIL To Bring New Fields Into Production In KG-D6 Block
In order to increase the current production capacity of its KG-D6 fields, Reliance Industries Limited (RIL) is trying to bring new fields on production. According to official sources, RIL and its partners BP Plcof UK and Niko Resources are working to produce 13-15 million standard cubic metres per day (mmscmd) of gas for 13 years […]
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