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Sep 13, 2013
Friday March 28, 2014
BP and Niko filed separate arbitration notices earlier this week, a move that will help them benefit from revised natural gas prices in the next financial year, sources privy to the development said.
Wednesday March 26, 2014
The Oil Ministry has summoned Reliance Industries Ltd (RIL) and consumers who use its KG-D6 gas for a meeting later this week to decide on extending sales contract beyond March 31, according to sources.
Tuesday March 25, 2014
Arvind Kejriwal, the head of India's new anti-corruption Aam Aadmi Party (AAP), which briefly controlled the state government in New Delhi, last month called for a criminal investigation into government officials and Reliance Industries Chairman Muke...
Tuesday March 25, 2014
Mukesh Ambani-promoted RIL operates the KG D6 block off India's east cost, where gas output has fallen sharply since 2010. RIL and its partner BP have attributed this to geological complexity. The company has said gas prices need to be increased in o...
Wednesday March 19, 2014
RIL had dragged the ministry to arbitration in 2012, saying the contract does not provide for levy of a $1.8 billion penalty for output not being in line with projected production profile.
World | Agence France-Presse | Friday March 14, 2014
The United States announced on Thursday an end to its ban on BP obtaining government contracts following the 2010 Deepwater Horizon disaster, the worst oil spill in US history.
Tuesday March 11, 2014
RIL and BP say the decline in current D1&D3 output to a 10th of the previously projected 80 million standard cubic meters per day was purely because of unanticipated geological complexities such as a drop in reservoir pressure and ingress of water an...
Friday March 7, 2014
In May, RIL and its partners announced a significant gas and condensate discovery in the KG-D6 block. In August, RIL and BP announced a new gas condensate discovery in the deep water CYD5 block in the Cauvery basin, off the east coast.
Tuesday March 4, 2014
Monday's decision is a setback for BP's effort to limit payments over the April 20, 2010, explosion of the Deepwater Horizon drilling rig and rupture of BP's Macondo oil well.
World | Reuters | Tuesday March 4, 2014
A divided US appeals court on Monday rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster.
Saturday February 22, 2014
The Oil Ministry has sought legal opinion on whether bank guarantees to cover an increase in gas prices from April need to be furnished by Reliance Industries alone or by partners BP and Niko Resources as well, according to sources.
Wednesday February 5, 2014
BP in 2011 agreed to acquire a 30 per cent stake in blocks operated by Reliance Industries for $7 billion. The UK-based energy firm has also formed a 50:50 joint venture with Reliance for sourcing and marketing gas.
Press Trust of India | Friday January 17, 2014
A division bench of Justices SJ Vazifdar and BP Colabawalla heared a public interest litigation filed by one Santosh Pachlag regarding non-payment of over Rs five crore to police for security provided for IPL matches played in Navi Mumbai's DY Pat...
Friday January 17, 2014
Reliance Industries will hold off from more investment in its main gas block until the government approves its development plans, the energy company said on Friday, after reporting a forecast-beating quarterly profit.
Monday January 13, 2014
Having reversed a decline in gas output at KG-D6 by starting a new production well, Reliance Industries Ltd (RIL) is repairing three shut wells on the main fields in the block and will take up a similar number later to further improve output.
Tuesday January 7, 2014
Regulatory and bureaucratic delays in adding new mines and expanding existing ones have made India the No. 3 importer of coal, even though it sits on what BP ranks as the world's fifth-largest reserves. Imports leaped 34 percent to 137.56 million ton...
World | Reuters | Sunday January 5, 2014
South Sudanese rebels and government negotiators will hold their first face-to-face talks on Sunday, after several days of delay, to thrash out a ceasefire deal and end weeks of ethnic fighting in the world's youngest state.
Sunday December 29, 2013
Reliance Industries and its partners BP Plc of UK and Canada's Niko Resources may have to provide a maximum of $1.2-billion in bank guarantees over three years to get nearly double the rate for natural gas being produced from the main fields in KG-D6...
Wednesday December 11, 2013
RIL-BP, who are currently producing about 11.8 million standard cubic metres per day of gas from the flagging eastern offshore KG-D6 block, is targeting newer fields in KG-D6 block and gas discoveries in neighbouring north-east coast and Cauvery basi...
Thursday December 5, 2013
The current output is sharply lower from the 60 mscmd production at the end of 2010, and Reliance and partner BP have cited geological complexities for the fall in output.