Reliance Industries likely to spin off oil-to-chemical business into a separate unit

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Reliance Industries Ltd has spun off RIL’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business. […]

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Stressed gas-based power plants want fuel allocation from upcoming fields

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Severely stressed gas-based power plants have sought a “separate bucket for allocation/auction of gas” from the offshore fields on the eastern coast of the country where production is to commence soon. As much as 24,900 megawatt of gas-based power stations operated at only 26% utilisation levels in the April-October period for lack of fuel supply. […]

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Reliance Industries to start gas production from three projects in KG basin very soon

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Reliance Industries plans to start the delayed production from the second wave of discoveries in its eastern offshore KG-D6 block of Krishna Godavari basin in November/December, the company said in an investor presentation.  Reliance is working on three projects in the Krishna Godavari basin KG-D6 block, where production from older fields stopped in February this year. […]

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COMMENT – Is Reliance Industries delaying Aramco deal?

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At the RIL annual general meeting held last week, Chairman Mukesh Ambani said that there might be a delay in the proposed deal with Saudi Aramco, raising concerns if the Reliance Industries-Saudi Aramco transaction is less desirable now. “Due to unforeseen circumstances in the energy market and the Covid-19 situation, the deal has not progressed according to […]

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RIL delays production from KG-D6 block to Sept/Oct 2020

Reliance Industries has pushed back the start of production from the second wave of discoveries in its eastern offshore KG-D6 block to September/October this year, after the Covid-19 lockdown imposed unprecedented constraints in execution of the deepwater project, the company’s annual report revealed. The company, along with its partner BP Plc of the UK, was […]

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