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Diesel freed, gas wait for Ambani OUR SPECIAL CORRESPONDENT Mukesh Ambani New...

New Delhi, Oct. 18: The Narendra Modi government today deregulated diesel prices, announced a gas pricing formula whose benefit will not immediately be available to Mukesh Ambani’s Reliance and revived...

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Revision of Domestic Gas Prices (Ministry of Petroleum and Natural Gas of the...

(Source: Ministry of Petroleum and Natural Gas of the Republic of India) The Cabinet Committee of Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, today approved the new domestic gas...

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A nuanced gas price policy

The government may appear to have done well in pegging domestic natural gas price at $5.61 per million metric British thermal unit (mmBtu) but the devil may well lie in the detail. The prevailing price...

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Gas price hike benefit eludes Reliance OUR SPECIAL CORRESPONDENT New Delhi,...

New Delhi, Oct. 18: Reliance Industries and partner British Petroleum have reason to feel hugely miffed after the Narendra Modi government today announced a new gas pricing formula — and denied it the...

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Deep sea gas price rule by early 2015 OUR SPECIAL CORRESPONDENT New Delhi,...

New Delhi, Oct. 22: The government will come out with a formula to determine the premium for oil and gas discovered in ultra deep-water and deep-water areas by early next year. The premium will be...

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BP pricks gas balloon Mumbai, Oct. 28: BP Plc today wrote down the value of ...

Mumbai, Oct. 28: BP Plc today wrote down the value of its $7.2-billion investment in India’s oil and gas fields made in February 2011 by a little over 10 per cent. Unveiling its third-quarter results...

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$6.5 a unit gas price must for Reliance exploration: Deutsche Bank

New Delhi, Sep 9: While the stakeholders keenly await the government to notify new prices of natural gas soon, a Deutsche Equity Research report says $6.5 per unit is a must for Reliance Industries to...

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Cancel KG basin allotment to Reliance, says Kejriwal

Tweet New Delhi, Oct 31 (IANS) S. Jaipal Reddy was axed as petroleum minister for refusing a Mukesh Ambani-led Reliance Industries' proposal to hike charges of gas it supplied to state-run power...

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RIL seeks three-fold hike in KG gas price OUR SPECIAL CORRESPONDENT Cost...

RIL seeks three-fold hike in KG gas price OUR SPECIAL CORRESPONDENT Cost factor Mumbai, June 26: Reliance Industries Ltd (RIL) has demanded that the price of KG-D6 gas be trebled to roughly $13 per...

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Holes in comparison with Bangla OUR SPECIAL CORRESPONDENT Mumbai, Feb. 12:...

Mumbai, Feb. 12: Comparisons are usually odious. On Wednesday, Arvind Kejriwal stirred a hornet’s nest by saying that if Reliance Industries’ partner in the KG-D6 block — Niko Resources of Canada —...

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Hint of cap on gas price hike OUR SPECIAL CORRESPONDENT Rae: Weighing options...

New Delhi, Nov. 27: The government plans to put a cap on the extent to which natural gas prices can be hiked when the new pricing formula comes into effect from April. “Suggestions have been made that...

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Govt not honouring contracts on KG-D6 gas block, says Reliance New Delhi, Sep...

New Delhi, Sep 3 (PTI): Amidst move to force Reliance Industries to sell gas from its main fields in KG-D6 block at old rates of $ 4.2 per million British thermal unit, the Mukesh Ambani-run firm hit...

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Key to gas chamber with court Legal experts to vet order OUR SPECIAL...

New Delhi, March 25: Oil minister M. Veerappa Moily today said top law officers would examine the Election Commission’s order to defer a gas price hike even as the government sought a Supreme Court...

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Govt notifies new gas pricing guidelines

The Petroleum and Natural Gas Ministry on Friday notified a new natural gas pricing guidelines under the Rangarajan formula that will lead to almost doubling of prices for all domestically produced gas...

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RIL in fresh trouble as CAG questions Ministry on gas price hike

The Mukesh Ambani-owned Reliance Industries Limited (RIL) is in for more trouble as the Comptroller and Auditor-General has questioned the Petroleum and Natural Gas Ministry over the recent gas price...

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What lies in gas chamber OUR SPECIAL CORRESPONDENT Mumbai, Feb. 11: Arvind...

Mumbai, Feb. 11: Arvind Kejriwal is looking to open a huge can of worms with his attempt to lob the contentious natural gas pricing issue to the Delhi anti-corruption bureau. He will need to furnish...

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Push for gas price hike after polls R. SURYAMURTHY New Delhi, May 4: The...

New Delhi, May 4: The government is determined to implement the hike in gas price — put on hold by the Election Commission — immediately after the model code of conduct for the polls ends on May 12....

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RIL may be restrained from revising KG gas price

The cabinet may take up proposal to stop Mukesh Ambani-controlled Reliance Industries Ltd (RIL) to charge revised rates for...

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RIL KG-D6 contract cannot be cancelled: Moily to PM

Tweet New Delhi, Feb 24 (IANS) Reliance Industries' (RIL) contract for KG-D6 gas fields cannot be terminated pending arbitration on the issue of thecompany's production shortfall, Petroleum Minister M....

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ONGC acts pricey on gas OUR SPECIAL CORRESPONDENT New Delhi, Sept. 2: ONGC...

New Delhi, Sept. 2: ONGC has sought a natural gas price of $5.99-7.15 per million British thermal unit (mBtu) to break even on the gas it plans to produce from the prolific KG-basin block. The PSU...

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India Defers Gas Tariff Rise a Third Time as Reliance, ONGC Wait

India deferred an increase in natural gas tariffs for a third time as the government continues consultations on the effect of an increase on the economy. A decision on gas prices has been pushed back...

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RIL KG-D6 contract cannot be cancelled: M.Veerappa Moily to PM

New Delhi, Feb 24: Reliance Industries' (RIL) contract for KG-D6 gas fields cannot be terminated pending arbitration on the issue of thecompany's production shortfall, Petroleum Minister M. Veerappa...

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Gas price prop for RIL OUR SPECIAL CORRESPONDENT New Delhi, Dec. 19: The...

New Delhi, Dec. 19: The government today cleared the decks for Reliance Industries to sell natural gas at new prices from April provided the company gave a bank guarantee to cover its liability if...

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Why pay a higher price if RIL says cost of gas is $2.74/mbtu?

In a disclosure that puts a question mark over the massive hike proposed in the price of gas from April 2014, the Petroleum Ministry has told the Standing Committee on Finance that the cost of...

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$2.74/mbtu = cost of gas production at KG block, as per RIL

In a disclosure to the Standing Committee on Finance, the Petroleum Ministry has said that the cost of production of gas in the KG D6 block including levies works out to $2.74 mbtu based on the...

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Moily firm on oil stand OUR SPECIAL CORRESPONDENT Moily: Fortifying views New...

New Delhi, Feb. 24: Reliance Industries’ contract with the government for the D6 gas block in the Krishna-Godavari basin off the Andhra Coast cannot be terminated as arbitration over sagging output is...

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Parliamentary panel orders Ministry study of Reliance gas production row

Parliament’s Standing Committee on Finance has ordered a comprehensive study into allegations that Reliance Industries Limited may have deliberately scaled back production of gas from fields in the...

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Give-&-take on gas price OUR SPECIAL CORRESPONDENT New Delhi, Nov. 18:...

New Delhi, Nov. 18: Reliance Industries will get a higher price for natural gas from April by providing a bank guarantee of $135 million per quarter. The price of gas is expected to be double the...

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Gas price, subsidy on agenda OUR SPECIAL CORRESPONDENT New Delhi, May 21: The...

New Delhi, May 21: The officials of the oil ministry will highlight gas pricing, investments in exploration and cuts in subsidies in their presentation to the Narendra Modi-government. The ministry...

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ONGC pins hopes on gas price hike OUR SPECIAL CORRESPONDENT Sarraf: Counting...

New Delhi, March 4: Oil and Natural Gas Corporation Ltd (ONGC) today said it would gain an additional Rs 16,000 crore in revenues from an expected hike in gas prices to around $8 per million British...

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Status quo on gas price OUR SPECIAL CORRESPONDENT New Delhi, June 25: In a...

New Delhi, June 25: In a blow to gas producers such as Reliance Industries and ONCG, the Modi government today decided to defer a decision to raise prices by three months. “The Cabinet Committee on...

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Bosses take stock of KG assets OUR SPECIAL CORRESPONDENT Planning Commission...

Bosses take stock of KG assets OUR SPECIAL CORRESPONDENT Planning Commission deputy chairman Montek Singh Ahluwalia and RIL chairman Mukesh Ambani in New Delhi on Monday. Picture by Prem Singh New...

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Reliance ups ante in gas price tussle OUR SPECIAL CORRESPONDENT New Delhi,...

New Delhi, May 10: Reliance Industries and partners BP plc of the UK and Canada’s Niko Resources have slapped an arbitration notice on the government over a delay in implementing revised gas prices....

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Government to moderate gas price increase

In a clear indication that the Narendra Modi government is unlikely to accept the Rangarajan formula for pricing domestically produced natural gas, Minister of Petroleum and Natural Gas Dharmendra...

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Gas sniffs please-all rate OUR SPECIAL CORRESPONDENT New Delhi, Sept. 17: The...

New Delhi, Sept. 17: The price of domestically produced gas could increase to around $6-6.5 per million British thermal unit (mBtu) if the new pricing mechanism suggested by the four-member...

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Reliance consortium serves arbitration notice on gas pricing

New Delhi, May 10: The consortium led by Reliance Industries has served a notice of arbitration on the Indian government, seeking the implementation of the natural gas pricing guidelines notified in...

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RIL blasts gas policy OUR SPECIAL CORRESPONDENT Prasad: Strict New Delhi,...

New Delhi, Sept. 3: Reliance Industries today hit out at the government for not providing a stable oil and gas policy and said any move to deny the company the increased gas price from April would send...

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Reliance says new gas rates will still apply from April

Mumbai, May 14: After an arbitration notice to the government on revising gas prices, Reliance Industries has told buyers that its supplies from April 1 will be at new rates as and when they are...

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RIL push to end gas price freeze R. SURYAMURTHY New Delhi, April 27: Reliance...

New Delhi, April 27: Reliance Industries has asked the Election Commission to “retract” its order directing status-quo on gas price, arguing that the poll panel had allowed the RBI to issue new bank...

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Partners to be party to RIL struggle OUR SPECIAL CORRESPONDENT New Delhi,...

New Delhi, March 19: Niko Resources and BP — the two partners of Reliance Industries in the KG-D6 blocks —have decided to formally join the Mukesh Ambani firm in the arbitration proceedings against the...

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Haze engulfs gas contracts OUR BUREAU New Delhi, March 31: Reliance...

New Delhi, March 31: Reliance Industries and its customers today failed to agree on the key terms of the sale of natural gas that was to be effective from tomorrow. The government asked the Mukesh...

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Price prop for gas players R. SURYAMURTHY New Delhi, Oct. 27: An expected...

New Delhi, Oct. 27: An expected hike in gas price from the next fiscal has encouraged explorers such as ONGC, Reliance and Cairn to move the upstream oil and gas regulator for a review of the...

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RIL stands pat on gas price OUR SPECIAL CORRESPONDENT New Delhi, May 14:...

New Delhi, May 14: Reliance Industries has categorically told buyers of its KG-D6 gas that the new rates, as and when approved, will apply from April 1. “The gas price payable for the supplies received...

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Move to clear air on gas price OUR SPECIAL CORRESPONDENT Mumbai, June 18:...

Mumbai, June 18: Reliance Industries Ltd (RIL) has once again rubbished the charge that it stands to make windfall profits from the gas it produces from the Krishna-Godavari (KG) basin once a new gas...

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RIL ultimatum on gas price OUR SPECIAL CORRESPONDENT New Delhi, April 29:...

New Delhi, April 29: Reliance Industries Ltd has asked the oil ministry to announce the new gas price immediately after the end of elections. “The new price according to the guidelines (approved by the...

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Reliance gas back with a bang OUR LEGAL CORRESPONDENT Mukesh Ambani New...

New Delhi, Aug. 9: The anti-corruption branch of the Delhi government has asserted in court that it has the authority to act on an FIR filed against Reliance Industries chairman Mukesh Ambani and...

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Mukesh skips Modi trip - ‘Prior business commitments’ cited OUR SPECIAL...

New Delhi, Aug. 30: Mukesh Ambani, the Reliance Industries chairman, has expressed his inability to be part of a business delegation accompanying Prime Minister Narendra Modi to Japan. Presiding over...

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EC stuns Reliance, blocks gas price OUR SPECIAL CORRESPONDENT Mukesh Ambani...

New Delhi, March 24: Mukesh Ambani-owned Reliance Industries Ltd suffered a huge setback tonight after the Election Commission directed the petroleum ministry to put off plans to introduce a gas...

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