Reliance Industries Company News

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OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex
Monday, October 16, 2017 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.

India's Reliance Industries 2Q Profit Up 7%, Lags Estimates
Friday, October 13, 2017 Reliance Industries posts a 7.3% rise in its 2Q standalone net profit.

India's Reliance Sells US Shale Asset for $126 Mln
Friday, October 06, 2017 Reliance bought the Marcellus asset in 2010 for $392 million.

Sources: India's Reliance Makes First Purchase Of US Crude
Tuesday, October 03, 2017 Reliance Industries has purchased crude oil cargoes from the United States for the first time.

Reliance Outbids Rivals to Buy Its Own Coal-Bed Gas Until 2021
Wednesday, September 27, 2017 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.

BP, Reliance Close in on India Gas Field Near Missile Test Site
Thursday, September 07, 2017 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.

India's Reliance To Boost Profit, Naphtha Exports By Using Ethane
Thursday, August 24, 2017 Reliance expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive says.

India's Reliance Industries' 1Q Standalone Profit Up 9%, Tops Estimates
Thursday, July 20, 2017 Reliance Industries posts a 9% rise in first-quarter standalone profit, helped by higher margins from its core petrochemicals business.

BP, Reliance to Revive India Investments After Eight Years
Thursday, June 15, 2017 BP and Reliance Industries will invest as much as $6 billion to restart work in Indian oil and gas blocks after eight years.

Reliance's Upstream Revenue in 1Q FY17 Declines 34.8% YOY to $200M
Monday, July 18, 2016 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.

India's Reliance 1Q Net Profit Up 18%, Beats Estimates
Friday, July 15, 2016 India's oil-to-telecoms conglomerate Reliance Industries reports a better-than-expected 18-percent increase in first quarter profit.

Reliance Gets Approval to Drill 8 Exploration Wells Off India's Tamil Nadu
Tuesday, July 05, 2016 Reliance Industries receives approval to drill 8 exploration wells in Block DY-III-D5 offshore Tamil Nadu, India.

Modi's $27B Oil Quest Gives Services Firms A Lifeline
Tuesday, June 28, 2016 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.

Reliance Said To Revive Offshore India Gas Project By End-2017
Friday, May 27, 2016 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.

ONGC to Use PMT JV's Abandoned Facilities for Daman Project Offshore India
Friday, April 15, 2016 ONGC will use some facilities abandoned by the Panna-Mutka-Tapti joint venture for the Daman Development Project offshore India's west coast.

World's Biggest Oil Market Too Tied To Mideast To End Addiction
Thursday, March 31, 2016 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.

Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
Friday, February 05, 2016 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.

India Plans to Free Natural Gas Prices Under New Auction Rules
Monday, November 16, 2015 India plans to free prices of locally extracted natural gas and allow producers marketing autonomy as part of new rules for auctioning exploration blocks.

Reliance's 2Q FY16 Oil, Gas E&P Revenue Falls 31.1% to $309M
Monday, October 19, 2015 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.

OGCI Pledges to Further Reduce Greenhouse Gas Emissions
Friday, October 16, 2015 The OGCI pledges to further reduce greenhouse gas emissions in an attempt to limit global average temperature rise to two degrees centigrade.

Energy Importer India Apprehensive About Higher Oil Prices
Monday, October 05, 2015 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.

India Draws Attention from Drilling Firms; Focuses on ONGC Tender
Tuesday, September 29, 2015 Drilling firms show keen interest in the Indian market, with attention focused in a tender by state-owned ONGC, local media says.

India To Change Oil, Gas Exploration Rules; Offers Small Fields
Wednesday, September 02, 2015 India will auction 69 small and marginal oil and gas fields surrendered by state explorers, Oil Minister Dharmendra Pradhan says.

BG Commences Oil Production from Mukta-B Platform in India's Bombay Basin
Thursday, July 09, 2015 BG commences oil production from the Mukta-B platform in India's offshore Bombay basin.

Reliance's 4Q FY15 Oil, Gas Revenue Declines 10.2% to $402.8M
Monday, April 20, 2015 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.

Reliance Signs Production Sharing Pact For Offshore Blocks In Myanmar
Tuesday, March 31, 2015 Reliance says it signed an agreement with Myanmar for a production sharing contract for two offshore blocks.

India Widens Oil Leaks Probe to Defence Ministry; Security Concerns Grow
Tuesday, March 03, 2015 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.

Reliance Posts 2.9% Fall in Oil, Gas Revenue to $460.2M in 3Q FY 2015
Monday, January 19, 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.

India's Reliance, Partners Abandon East Coast Oil and Gas Block
Wednesday, December 24, 2014 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.

India's Reliance Posts Profit Rise, Plans To Invest $9B
Monday, October 13, 2014 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.

India's DGH Refuses to Approve 3 ONGC's Gas Finds in Bay of Bengal
Monday, August 04, 2014 India's Directorate General of Hydrocarbons refuses approval of ONGC's three gas finds in KG-D5 block in the Bay of Bengal, India.

Reliance's Oil, Gas Business Revenue Rises 27.3% in June Quarter
Monday, July 21, 2014 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.

Minister: India Disallows Reliance From Cost Recovery Of $2.4B
Monday, July 14, 2014 India has disallowed Reliance from recovering billions invested to develop offshore gas fields in the D6 block as output has fallen drastically and is way below promised volumes, the oil minister says.

KG D6 Block JV Issues Arbitration Notice to Government of India
Wednesday, May 14, 2014 The joint venture of the KG D6 block offshore India has issued a notice of arbitration to the Indian government seeking implementation of domestic natural gas pricing, which has delayed around $4 billion in planned upstream investments this year.

India's Reliance Posts Flat 4Q Profit, Meets Estimates
Friday, April 18, 2014 Reliance Industries posted a flat quarterly profit, in line with estimates, hurt by a slimmer margin in its oil refining business.

India's Reliance Awaits Government Nod For More Gas Investments
Friday, January 17, 2014 Reliance Industries will hold off from more investment in its main gas block until the government approves its development plans, after reporting a forecast-beating quarterly profit.

India's Reliance Industries Eyes Oil Project In Venezuela
Tuesday, January 14, 2014 Indian energy major Reliance Industries looks to pick up an 11-percent stake in Venezuela's Petrocarabobo project.

Reliance Inds Starts Gas Production from New Well in KG Basin
Thursday, January 09, 2014 Reliance Industries, which operates the Krishna-Godavari basin's D6 block off India's east coast, has started producing gas from the MA-8 well on Jan. 1, its spokesman says.

ONGC Plans to Spend $9B to Develop Upstream Assets in India's KG Basin
Monday, January 06, 2014 ONGC plans to spend over $9 billion to develop the petroleum resources in Block KG-DWN-98/2 in the Krishna Godavari basin off India's east coast by 2017-2018, according to a local media report.

India to Ask Reliance to Give Up 80% of D6 Gas Block
Tuesday, October 29, 2013 India will ask Reliance to relinquish 80% of its east coast deepwater D6 gas block, including five discoveries, as the energy major has not adhered to timelines for developing the area, the oil secretary said.

Reliance, PdVSA to Study Development Plan for Ayacucho Block 8
Friday, October 11, 2013 Reliance Industries and Petroleos de Venezuela SA sign an agreement to evaluate the development plan for Ayacucho Block 8 in Orinoco oil belt in Venezuela.

India Says May Appoint Expert to Assess Reliance Block Gas Fall
Thursday, September 12, 2013 India may appoint an international expert to assess the reasons for the decline in gas output from Reliance-operated D6 block, Oil Secretary Vivek Rae says.

Reliance, BP Discover Gas Condensate in Cauvery Basin
Friday, August 23, 2013 Reliance Industries reports that the company and BP have made a new gas condensate discovery in the Cauvery basin off India's east coast.

ONGC, Reliance Explore Prospects for Infrastructure Sharing
Monday, July 29, 2013 Oil and Natural Gas Corporation signs agreement with Reliance Industries to consider sharing the latter's infrastructure off the east coast of India.

India's Reliance Profit Tops Estimate on Refining Margins
Friday, July 19, 2013 Higher margins from its core refining business helped Reliance Industries post a third consecutive increase in quarterly profit.

Reliance Industries Plans $26B Investment in 3 Years
Thursday, June 06, 2013 Reliance outline a three-year investment plan of $26B to further expand its businesses which range from gas production and oil refining to selling groceries and vegetables.

Reliance Makes Gas Condensate Discovery Offshore India
Friday, May 24, 2013 A significant gas condensate discovery was made in the deepwater KG D6 Block, offshore India, by partners Reliance, BP and NIKO.

Reliance Industries 4Q Profit Beat Street Estimates
Tuesday, April 16, 2013 Reliance posts its biggest quarterly profit in 18 months as it exceeded market estimates by reporting a 32% increase in fiscal fourth quarter net profit, helped by higher refining margin.

Wood Mackenzie: SE Asia to Drive LNG Demand Moving Towards 2025
Wednesday, February 20, 2013 Southeast Asia, notably Indonesia and Thailand, will take a central role in driving LNG demand moving towards 2020, a report by Wood Mackenzie said.

Reliance, BP in $5B Effort to Boost Indian Gas Production
Tuesday, February 19, 2013 Reliance Industries and BP plan to jointly invest more than $5 billion to boost gas output at a block off India's east coast.