New Delhi: The government would offer exploration blocks for the next round of auction only after fine-tuning the existing policy for making it friendlier for investors and easier for the governmen

New Delhi UK's BP plc has relinquished or surrendered 9 out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for USD 7.2 billion, due to poor hydrocarbon prospects.

BP had last year bought 30 per cent stake in a total of 23 oil and gas blocks of RIL including the gas discovery areas of KG-D6 and NEC-25. The Cabinet had however approved of BP taking stake in 21.

Reliance Industries Limited (RIL) has cut capital investment on the main oil and gas fields in the KG-D6 block by $3 billion on the back of an unexpected drop in reserves in an area that was once I

Oilmin Says New Rates Would Push Up Govt’s Subsidy Burden By $6.3Bn

New Delhi: The oil ministry has rejected RIL’s request for revising the price of gas from the company’s Andhra offshore field before the due date of April 1, 2014.

Cites inordinate delays in construction of the 2,175-km lines as reason

Ending months of uncertainty, the government has cancelled authorisations issued to Mukesh Ambani’s privately held firm to lay down four gas pipelines totalling 2,175 km. The company, Reliance Gas Transportation Infrastructure Ltd, or RGTIL, had authorisation for building four trunk pipelines — Kakinada-Haldia, Kakinada-Chennai, Chennai-Tuticorin and Chennai-Bangalore-Mangalore — set to be completed this year.

Even as the Reliance Energy Limited (REL)-managed distribution companies have been flouting all the agreements, silence of the State Government has baffled many.

Co may freeze oil & gas investments till clarity on gas pricing.

New Delhi: Mukesh Ambani’s Reliance Industries Ltd has put its foot down on the government’s move to get the performance of its showcase Andhra offshore gas field scrutinized by the federal auditor

Experts feel common infrastructure practical solution as defence min forbids construction of permanent structures