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Reliance-BP seek buyers for 5.5 mmscmd gas from KG-D6
April 5, 2021
Source: Energyworld

Reliance-BP seek buyers for 5.5 mmscmd gas from KG-D6

New Delhi: Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block. The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document.

Gas price for ONGC to inch up to $1.82, fall below $4 for Reliance-BP
March 24, 2021
Source: Energyworld

Gas price for ONGC to inch up to $1.82, fall below $4 for Reliance-BP

New Delhi: Government-dictated price for natural gas produced by companies such as ONGC is likely to inch up marginally to USD 1.82 next week while the same for difficult fields like one operated by Reliance-BP may fall below USD 4, sources said. The price of gas, which is used to generate electricity, make fertiliser and convert into CNG for automobiles and cooking gas for households, is due to bi-annual revision next week.

Chevron, Reliance request U.S. unwind some Venezuela oil sanctions
Jan. 29, 2021
Source: World oil

Chevron, Reliance request U.S. unwind some Venezuela oil sanctions

Chevron and Reliance Industries are meeting with U.S. State Department officials reinstating transactions known as oil swaps that would allow companies to receive Venezuelan crude in exchange for supplying diesel.The U.S. imposed sanctions on Petroleos de Venezuela SA in early 2019, in an effort to dislodge President Nicolas Maduro from power by depriving his government of oil revenue.

Reliance Naval indicts ONGC
Aug. 8, 2018
Source: Livemint

Reliance Naval indicts ONGC

Anil Ambani-lead Reliance Naval has filed a lawsuit against E&P major, ONGC for wrongfully terminating a deal and invoking bank guarantee. ONGC refused to take the delivery of an eighth vessel under a supply deal of a dozen vessels. Reliance Naval has asked ONGC for a reimbursement of more than $6.6 million, and another $15.46 million as payment for the support vessel.

India’s crude production fell by 3% in May
June 22, 2018
Source: Money Control

India’s crude production fell by 3% in May

With ONGC having produced just 1.84 million tonnes of crude oil in May as compared to 1.93 million tonnes the same month, last year, the state-owned oil giant’s output in April-May dunked 4.3% to 3.62 million tonnes. This scheduled a drop in India's oil production to 5.9 million tonnes from 6.03 million tonnes in April-May, last year. However, Reliance and Nayara Energy’s over-performing refineries produced 6.8% more fuel in May.

Reliance-ONGC gas siphoning case
June 11, 2018
Source: Economic Times

Reliance-ONGC gas siphoning case

The hearing in an International Arbitration Tribunal to authenticate Indian government’s $1.55 billion demand from Reliance-BP-Niko Resources for the alleged gas siphoning from ONGC deposits has come to a conclusion. The tribunal is expected to give out a judgment in July. Reliance and its partners are accused of producing 338.332 million Btu of gas that seeped or migrated from ONGC's blocks into their adjoining KG-D6 in the Bay of Bengal.

RIL to halt Iranian oil import from October
May 31, 2018
Source: Economic Times

RIL to halt Iranian oil import from October

Reliance Industries Ltd (RIL) is planning to stop its import of Iranian crude from October-November, owing to re-imposition of US sanctions. Although India has said that it does not follow U.S. sanctions but companies like Reliance, which have significant exposure to the financial system of the United States could be liable to penalties if they do not comply. US ordered the re-imposition of sanctions on Tehran earlier this month.

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