Reliance Industries Company News

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McDermott Completes Historic India Subsea Project
Friday, June 04, 2021McDermott International reported that it has completed work on a pioneering subsea project off India's east coast.

Biden Ally to Lobby for Refiner on Venezuela Sanctions
Friday, June 04, 2021Reliance is seeking to resume imports of Venezuelan oil in exchange for supplying diesel.

Transocean Wins Drilling Contracts
Wednesday, February 17, 2021Transocean has garnered several new drilling contracts and contract extensions during the past quarter.

India Deal-making Could Shake Up Asian LNG Markets
Monday, February 15, 2021India is trying to pivot from an economy largely based on coal to more gas, including a major LNG infrastructure build-out.

Northern to Expand Holdings Beyond Williston and Permian
Friday, February 05, 2021Reliance will divest its Marcellus acreage.

Permian Project Could Herald Rise of US Energy ESG
Monday, February 01, 2021Here is a preview of what to watch this week in oil and gas markets.

Chevron and Reliance Hold Venezuela Talks with State Department
Thursday, January 28, 2021Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela's oil industry.

Venezuela Oil Exports to China Surge
Tuesday, December 01, 2020Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.

New Breed of Refineries Emerging in Asia
Wednesday, August 26, 2020As the age of the hydrocarbon enters its final era, the action increasingly moves to Asia and plastics take center stage.

Indian Farmers Improvising Diesel Substitutes
Tuesday, August 11, 2020Surging diesel prices may be squeezing farmers across India’s vast hinterlands, but they’re also kindling the nation’s knack for improvisation.

Pricier US Ethane Squeezes Asia Petchems Makers
Wednesday, July 01, 2020Petrochemicals manufacturers such as Reliance Industries and SP Chemicals face squeezed margins from pricier raw materials as shale supplies plummet.

Refiners Shun Venezuelan Crude
Friday, June 26, 2020India's largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.

Is Chevron's $11B Write-Down an Oilpatch Warning?
Tuesday, January 14, 2020Current market conditions are resulting in many US fracking projects failing to break even.

Reliance, Aramco to Stall Talks on Refinery Stake Sale
Tuesday, July 23, 2019Indian 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.

Cyclones Fail to Deter India Subsea Work
Wednesday, July 03, 2019McDermott used its derrick lay vessel DLV 2000 to perform its first S-lay piggy-back pipelay. PHOTO: PRNewswire

India Becomes Top Buyer of Venezuelan Oil
Monday, February 18, 2019Meanwhile, shipments to Venezuela's long-time ally China have slowed down.

How Venezuela's Last Oil Buyers May React to Sanctions
Tuesday, January 29, 2019After 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.

India's Reliance Declares 30pct Higher Refinery Capacity at Export Plant
Wednesday, January 17, 2018he new capacity is the equivalent of 704,000 bpd of crude processing.

OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex
Monday, October 16, 2017Being 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, 2017Reliance 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, 2017Reliance bought the Marcellus asset in 2010 for $392 million.

Sources: India's Reliance Makes First Purchase Of US Crude
Tuesday, October 03, 2017Reliance 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, 2017Reliance 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, 2017Reliance 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, 2017Reliance 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, 2017Reliance 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, 2017BP 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, 2016Reliance'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, 2016India'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, 2016Reliance 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, 2016India 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, 2016Reliance 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, 2016ONGC 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, 2016Even 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, 2016The 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, 2015India 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, 2015Reliance 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, 2015The 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, 2015India 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, 2015Drilling 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, 2015India 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, 2015BG 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, 2015Reliance'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, 2015Reliance 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, 2015India 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, 2015Reliance'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, 2014Reliance 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, 2014Reliance 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, 2014India'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, 2014Reliance posts a 27.3% gain in revenue for its oil and gas exploration and production business in the June quarter to $527.54 million.