New Delhi: A day after the petroleum ministry had to cancel a meeting between officials of Reliance Industries Limited and the comptroller and auditor general (CAG), the auditor asserted that it wa

New Delhi: Various committees, not just the oil ministry, rejected petro giant Reliance Industries Ltd’s (RIL) proposal to link the cost of gas from the KG basin with the international crude price,

After months of intense stand-off, the oil ministry has given nod to Reliance Industries’ plans to raise natural gas output from the flagging KG-D6 oilfield and agreed the Comptroller & Auditor

Clears KG-D6 investment plan RIL also allowed to declare commerciality of certain wells in NEC 25, KG-D6

The face-off between the government and Reliance Industries Ltd (RIL) is nearing an end, with the petroleum ministry agreeing to exempt the country’s largest private sector petroleum company from a performance audit. Simultaneously, the pending approvals for RIL’s KG-D6 block have also been granted. In a letter sent to RIL yesterday, the ministry has said an audit under section 1.9 of accounting procedure in the production sharing contract (PSC) would be conducted.

Business: Holding out hope for the future of Reliance Industries’ showcase KG-D6 hydrocarbon assets and India’s mining and energy industries, the government and the company have agreed on a develop

Oil Ministry says CAG can’t do performance audit of the company

After months of intense stand-off, the Oil Ministry has given nod to Reliance Industries’ plans to raise natural gas output from the flagging KG-D6, and agreed that CAG cannot do a performance audit of the company. The Ministry, on Tuesday, sent a letter to RIL stating that “all the government nominees” on the KG-D6 block oversight committee have “already approved” to all the development proposals made by RIL, sources said.

NEW DELHI, 17 OCT: The oil ministry has informed the Prime Minister's Office (PMO) that it has not given final nod to Reliance Industries' plans to raise natural gas output from the flagging KG-D6

To focus on increasing gas and oil production

U.K.’s BP plc and Reliance Industries Limited (RIL) are going to focus on increasing oil and gas production from their assets in future despite having surrendered nine out of the 21 blocks due to poor prospects. BP, which had bought 30 per cent stake in RIL for $7.2 billion, is a partner in 21 blocks despite having bought stake in 23 blocks as the Cabinet had only approved its partnership in 21 blocks in the KG-D6 basin.

Reliance Industries Ltd’s (RIL) SEZ refinery at Jamnagar has won the ‘Globe of Honour Award’ for excellence in environmental management.

New Delhi: The government has cleared a bulk of the 52 exploration blocks that were bid out successfully but were stuck over defence and environmental clearances, oil secretary G C Chaturvedi said