Reliance Industries Company News

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McDermott Completes Historic India Subsea Project
McDermott International reported that it has completed work on a pioneering subsea project off India's east coast.
8:00 PM EST | June 03, 2021
Biden Ally to Lobby for Refiner on Venezuela Sanctions
Reliance is seeking to resume imports of Venezuelan oil in exchange for supplying diesel.
8:00 PM EST | June 03, 2021
Transocean Wins Drilling Contracts
Transocean has garnered several new drilling contracts and contract extensions during the past quarter.
7:00 PM EST | February 16, 2021
India Deal-making Could Shake Up Asian LNG Markets
India is trying to pivot from an economy largely based on coal to more gas, including a major LNG infrastructure build-out.
7:00 PM EST | February 14, 2021
Northern to Expand Holdings Beyond Williston and Permian
Reliance will divest its Marcellus acreage.
7:00 PM EST | February 04, 2021
Permian Project Could Herald Rise of US Energy ESG
Here is a preview of what to watch this week in oil and gas markets.
7:00 PM EST | January 31, 2021
Chevron and Reliance Hold Venezuela Talks with State Department
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela's oil industry.
7:00 PM EST | January 27, 2021
Venezuela Oil Exports to China Surge
Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.
7:00 PM EST | November 30, 2020
New Breed of Refineries Emerging in Asia
As the age of the hydrocarbon enters its final era, the action increasingly moves to Asia and plastics take center stage.
8:00 PM EST | August 25, 2020
Indian Farmers Improvising Diesel Substitutes
Surging diesel prices may be squeezing farmers across India’s vast hinterlands, but they’re also kindling the nation’s knack for improvisation.
8:00 PM EST | August 10, 2020
Pricier US Ethane Squeezes Asia Petchems Makers
Petrochemicals manufacturers such as Reliance Industries and SP Chemicals face squeezed margins from pricier raw materials as shale supplies plummet.
8:00 PM EST | June 30, 2020
Refiners Shun Venezuelan Crude
India's largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.
8:00 PM EST | June 25, 2020
Is Chevron's $11B Write-Down an Oilpatch Warning?
Current market conditions are resulting in many US fracking projects failing to break even.
7:00 PM EST | January 13, 2020
Reliance, Aramco to Stall Talks on Refinery Stake Sale
Indian billionaire Mukesh Ambani's Reliance Industries Ltd.'s talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the deal's structure.
8:00 PM EST | July 22, 2019
Cyclones Fail to Deter India Subsea Work
McDermott used its derrick lay vessel DLV 2000 to perform its first S-lay piggy-back pipelay. PHOTO: PRNewswire
8:00 PM EST | July 02, 2019
India Becomes Top Buyer of Venezuelan Oil
Meanwhile, shipments to Venezuela's long-time ally China have slowed down.
7:00 PM EST | February 17, 2019
How Venezuela's Last Oil Buyers May React to Sanctions
After the US slapped sanctions on PDVSA, the market has focused on how the remaining buyers of the South American country's heavy, low-quality crude will react.
7:00 PM EST | January 28, 2019
India's Reliance Declares 30pct Higher Refinery Capacity at Export Plant
he new capacity is the equivalent of 704,000 bpd of crude processing.
7:00 PM EST | January 16, 2018
OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex
Being sophisticated in the age of OPEC output curbs can prove a disadvantage, as the operator of the world's biggest oil-refining complex is discovering.
8:00 PM EST | October 15, 2017
India's Reliance Industries 2Q Profit Up 7%, Lags Estimates
Reliance Industries posts a 7.3% rise in its 2Q standalone net profit.
8:00 PM EST | October 12, 2017
India's Reliance Sells US Shale Asset for $126 Mln
Reliance bought the Marcellus asset in 2010 for $392 million.
8:00 PM EST | October 05, 2017
Sources: India's Reliance Makes First Purchase Of US Crude
Reliance Industries has purchased crude oil cargoes from the United States for the first time.
8:00 PM EST | October 02, 2017
Reliance Outbids Rivals to Buy Its Own Coal-Bed Gas Until 2021
Reliance outbid rivals to buy the entire volume of coal-bed methane produced from its own blocks, a move that may help it boost margins and replace more expensive imported fuel at its petrochemicals plants.
8:00 PM EST | September 26, 2017
BP, Reliance Close in on India Gas Field Near Missile Test Site
Reliance Industries and its partner BP are reviving investment plans for a gas block close to a military missile launching facility in the Bay of Bengal.
8:00 PM EST | September 06, 2017
India's Reliance To Boost Profit, Naphtha Exports By Using Ethane
Reliance expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive says.
8:00 PM EST | August 23, 2017
India's Reliance Industries' 1Q Standalone Profit Up 9%, Tops Estimates
Reliance Industries posts a 9% rise in first-quarter standalone profit, helped by higher margins from its core petrochemicals business.
8:00 PM EST | July 19, 2017
BP, Reliance to Revive India Investments After Eight Years
BP and Reliance Industries will invest as much as $6 billion to restart work in Indian oil and gas blocks after eight years.
8:00 PM EST | June 14, 2017
Reliance's Upstream Revenue in 1Q FY17 Declines 34.8% YOY to $200M
Reliance's upstream oil and gas business posts a revenue of $200 million in the first quarter of financial year 2017, down 34.8 percent from $240 million from a year ago.
8:00 PM EST | July 17, 2016
India's Reliance 1Q Net Profit Up 18%, Beats Estimates
India's oil-to-telecoms conglomerate Reliance Industries reports a better-than-expected 18-percent increase in first quarter profit.
8:00 PM EST | July 14, 2016
Reliance Gets Approval to Drill 8 Exploration Wells Off India's Tamil Nadu
Reliance Industries receives approval to drill 8 exploration wells in Block DY-III-D5 offshore Tamil Nadu, India.
8:00 PM EST | July 04, 2016
Modi's $27B Oil Quest Gives Services Firms A Lifeline
India is offering global oilfield service providers starved of new contracts a $27 billion lifeline as the government's ambition to cut fuel imports drives fresh investment.
8:00 PM EST | June 27, 2016
Reliance Said To Revive Offshore India Gas Project By End-2017
Reliance Industries is preparing to restart work in four offshore oil and gas blocks as it seeks to revive development activity stalled for seven years by disputes with the government, according to a people with knowledge of the plan.
8:00 PM EST | May 26, 2016
ONGC to Use PMT JV's Abandoned Facilities for Daman Project Offshore India
ONGC will use some facilities abandoned by the Panna-Mutka-Tapti joint venture for the Daman Development Project offshore India's west coast.
8:00 PM EST | April 14, 2016
World's Biggest Oil Market Too Tied To Mideast To End Addiction
Even in a world awash with crude, buyers in the world's biggest oil market can't seem to escape their addiction to Middle East supplies.
8:00 PM EST | March 30, 2016
Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
The oil tanker Tofteviken setting sail from the UK this month carrying the first shipment of North Sea Ekofisk crude to the US Gulf Coast in five years.
7:00 PM EST | February 04, 2016
India Plans to Free Natural Gas Prices Under New Auction Rules
India plans to free prices of locally extracted natural gas and allow producers marketing autonomy as part of new rules for auctioning exploration blocks.
7:00 PM EST | November 15, 2015
Reliance's 2Q FY16 Oil, Gas E&P Revenue Falls 31.1% to $309M
Reliance Industries posts a 31.1% decline in revenue for its oil and gas business to $309.03 million in 2Q of 2016 ending Sept. 30., with the fall attributed to lower global oil prices.
8:00 PM EST | October 18, 2015
OGCI Pledges to Further Reduce Greenhouse Gas Emissions
The OGCI pledges to further reduce greenhouse gas emissions in an attempt to limit global average temperature rise to two degrees centigrade.
8:00 PM EST | October 15, 2015
Energy Importer India Apprehensive About Higher Oil Prices
India is apprehensive about potential rise in oil prices due to the record reduction in upstream investment, a development cited by the head of the International Energy Agency recently.
8:00 PM EST | October 04, 2015
India Draws Attention from Drilling Firms; Focuses on ONGC Tender
Drilling firms show keen interest in the Indian market, with attention focused in a tender by state-owned ONGC, local media says.
8:00 PM EST | September 28, 2015
India To Change Oil, Gas Exploration Rules; Offers Small Fields
India will auction 69 small and marginal oil and gas fields surrendered by state explorers, Oil Minister Dharmendra Pradhan says.
8:00 PM EST | September 01, 2015
BG Commences Oil Production from Mukta-B Platform in India's Bombay Basin
BG commences oil production from the Mukta-B platform in India's offshore Bombay basin.
8:00 PM EST | July 08, 2015
Reliance's 4Q FY15 Oil, Gas Revenue Declines 10.2% to $402.8M
Reliance's oil and gas revenue declines 10.2 percent in the fourth quarter of 2015 to $402.08 million, down from $447.68 million a year ago.
8:00 PM EST | April 19, 2015
Reliance Signs Production Sharing Pact For Offshore Blocks In Myanmar
Reliance says it signed an agreement with Myanmar for a production sharing contract for two offshore blocks.
8:00 PM EST | March 30, 2015
India Widens Oil Leaks Probe to Defence Ministry; Security Concerns Grow
India widens an investigation into leaks of confidential documents from its oil ministry to include the defence ministry, raising fears that other secrets vital to national security may have fallen into the wrong hands.
7:00 PM EST | March 02, 2015
Reliance Posts 2.9% Fall in Oil, Gas Revenue to $460.2M in 3Q FY 2015
Reliance's oil and gas exploration and production segment posts a 2.9 percent decline in revenue for third quarter 2015 that ended Dec. 31, 2014.
7:00 PM EST | January 18, 2015
India's Reliance, Partners Abandon East Coast Oil and Gas Block
Reliance Industries and its partners have relinquished an oil and gas block off India's east coast due to access restrictions and uncertainty over long-term natural gas pricing, one of the company's joint-venture partners Hardy Oil and Gas said.
7:00 PM EST | December 23, 2014
India's Reliance Posts Profit Rise, Plans To Invest $9B
Reliance reports a rise in profits that beat forecasts, helped by stronger refining margins, and said it would invest up to $9 billion in the next two quarters.
8:00 PM EST | October 12, 2014
India's DGH Refuses to Approve 3 ONGC's Gas Finds in Bay of Bengal
India's Directorate General of Hydrocarbons refuses approval of ONGC's three gas finds in KG-D5 block in the Bay of Bengal, India.
8:00 PM EST | August 03, 2014
Reliance's Oil, Gas Business Revenue Rises 27.3% in June Quarter
Reliance posts a 27.3% gain in revenue for its oil and gas exploration and production business in the June quarter to $527.54 million.
8:00 PM EST | July 20, 2014