BP signals willingness to take back arbitration

BP signals willingness to take back arbitration

After the oil ministry's tough talk, BP of the UK has signalled its desire to end arbitration seeking higher prices for natural gas from eastern offshore KG-D6 block that it co-owns with Reliance Industries.

Gas worth Rs 11,000 cr migrated from ONGC to RIL's KG-D6 block: Report

Gas worth Rs 11,000 cr migrated from ONGC to RIL's KG-D6 block: Report

US-based consultant D&M has submitted its final report on the gas dispute between ONGC and Reliance Industries, establishing that natural gas worth over Rs 11,000 crore has migrated from idling KG fields of the state-owned firm to the adjoining KG-D6 block.

ONGC may not get much compensation in gas dispute with RIL

ONGC may not get much compensation in gas dispute with RIL

State-owned ONGC may not get much compensation even if it is established that natural gas from its idlying fields in Bay of Bengal had migrated to adjoining KG-D6 block of Reliance Industries as the contract does not provide for retrospective penalty for such acts.

RIL to defer gas field development if price outlook uncertain

RIL to defer gas field development if price outlook uncertain

Reliance Industries may defer development of R-Series and other satellite gas fields in the eastern offshore KG-D6 block if the gas price outlook was uncertain, its junior partner Niko Resources of Canada said.

Niko seeks 3-month extension to sell stake in KG-D6 block

Reliance Industries` consortium partner Niko Resources of Canada has extended by over three months its search for a buyer of its stake in RIL`s eastern offshore KG-D6 gas block to pay off debt.

RIL-BP to triple gas output from KG-D6 by 2021-22

Reliance Industries and its partner BP plc will nearly triple natural gas production from their eastern offshore KG-D6 block by 2021-22 in anticipation of a 'right' gas price covering their exploration risk.

RIL's MJ-1 discovery may hold 1.4 Tcf of gas resources

Reliance Industries' most significant recent gas discovery MJ-1 in KG-D6 block may hold 1.4 trillion cubic feet of gas resources, roughly half of the reserves in the block's main gas fields.

Niko to sell stake in RIL block on lower gas price hike

Niko to sell stake in RIL block on lower gas price hike

Niko holds 10 percent stake in the KG-D6 block where a total of 20 oil and gas discoveries had been made and three out of them are in production.

BP Plc writes off $830 million investment in KG-D6 block

BP Plc has written down the value of its investment in eastern offshore KG-D6 block by USD 830 rpt USD 830 million, following lower-than-expected gas price hike.

RIL, BP to invest about Rs 6000 cr to improve gas recovery

RIL, BP to invest about Rs 6000 cr to improve gas recovery

Reliance Industries and its partner BP plc of UK will invest about Rs 6,000 crore by 2016 to help sustain and improve recovery from the two main gas fields in the eastern offshore KG-D6 block.

RIL, partners to get $40 mn this fiscal from gas price hike

Reliance Industries and its partners will get about USD 40 million in additional revenue this fiscal for gas they produce from eastern offshore KG-D6 block after the government raised prices by 33 percent.

Gas price to dent RIL, but EPS, ROCE may still double: Barclays

liance Industries will get 33 percent higher gas price of USD 5.61 per mmBtu for output from MA field in the KG-D6 block, but its main D1&D3 fields will continue to get old rate of USD 4.2.

RIL gas field investments depend on acceptable pricing: Niko

Reliance Industries' USD 10 billion investment in new fields off the east coast depends on the government approving acceptable gas price, its junior partner Niko Resources said.

OilMin rebukes ONGC for making "frivolous allegations"

ONGC had on May 15 filed a petition in the Delhi High Court alleging that RIL may have drawn natural gas worth thousands of crores of rupees from its fields that sit next to Mukesh Ambani-run firm's KG-D6 block Krishna Godavari basin.

'RIL to defer investment in developing new fields'

The consortium is also investing USD 1.529 billion in developing four other satellite fields that can produce 10 mmscmd.

New gas rates to be applicable from Apr 1: RIL to buyers

Forced to sell gas at rates that have long expired, Reliance Industries has categorically told buyers of its KG-D6 gas that new rates as and when approved, will apply from April 1.

RIL seeks joint tech studies to resolve gas dispute with ONGC

In a move seen as "delaying tactics", Reliance Industries has proposed joint studies before an international expert is roped in to decide if its wells on KG-D6 block were drawing gas from neighbouring fields of ONGC.

Oil Min to move Cabinet to allow RIL to retain gas finds

The Oil Ministry is moving the Cabinet to allow Reliance Industries retain three gas discoveries worth USD 1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.

RIL extends gains, climbs almost 2%

Reliance Industries shares extended gains and climbed almost 2 percent Monday on expectations of higher production at its gas fields in the KG-D6 block.

HC notices to RIL, AP govt, Centre & CBI on KG-basin issue

Based on a petition filed by Palem Srikanth Reddy, president of the Jana Palana Party, a division bench comprising justices G Rohini and T Sunil Chowdary issued notices and posted the matter on April 2 for further hearing.