Reliance, Aramco call off $15 billion stake swap deal amid valuation differences

Reliance Industries and Saudi Aramco have called off the long hiccupping deal for Saudi Arabia’s oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns. It is understood talks broke down over how much Reliance’s oil-to-chemicals (O2C) business should be valued as the world seeks to move […]

Read more

Domestic natural gas production increases by 24.3% in October 2021 amid surging LNG prices

India’s domestic natural gas production increased by 24.3% on year to 3,007 million standard cubic metre (mscm) in October 2021, primarily due to higher production from Reliance Industries (RIL) and from BP’s ultra-deep-water field in the KG-D6 Block of the Krishna Godavari basin on the east coast. The output had fallen 8.1% Y-o-Y to 28,670.6 mscm in […]

Read more

RIL to milk KG-Basin for higher revenues after gas price hike by the govt.

Reliance Industries (RIL) is reaping the benefits of an increase in production from its oil and gas assets. The higher production from RIL-bp controlled Dhirubhai-6 (D6) block in the Krishna Godavari (KG) Basin will coincide with the government significantly hiking the price allowed for selling domestically produced natural gas, Business Standard reports. RIL’s share of production from […]

Read more

RIL New Energy, Jindal India, Adani, and Shirdi Sai Electricals among lowest bidders for government’s PLI Scheme

Jindal India Solar Energy, Reliance New Energy, Adani Infrastructure and Shirdi Sai Electricals are among the companies that emerged as the lowest bidders for the Rs 4,500 crore production linked incentive (PLI) scheme of the government for gigawatt-scale solar manufacturing in the country. The government-approved PLI scheme is expected to add 10 gigawatts (GW) of […]

Read more

RIL to use 3 GW solar power to produce green hydrogen at its electrolyser facility

Reliance Industries limited (RIL) is planning to use about 3 gigawatt (GW) of solar energy to generate 400,000 tonnes of hydrogen at its proposed electrolyser gigafactory. Speaking at the Fourth Assembly of the International Solar Alliance a virtual event held from 18-21 October 2021, Madhukar Garg, President – Refining and Petchem R&D, RIL, said, “We […]

Read more