Reliance, BP commit to pay for any shortfall in KG-D6 production to buyers
NEW DELHI: Reliance Industries Ltd (RIL) and its partner BP Plc of UK have committed to pay in cash for any natural gas volumes they are unable to deliver to customers from the next wave of discoveries in the eastern offshore KG-D6 block. According to draft gas sales and purchase agreement (GSPA) Reliance and BP […]
Reliance, BP announce first gas from Asia’s deepest project
NEW DELHI: Reliance Industries Limited (RIL) and BP have announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are […]
Several EoIs received for BPCL sale, giants RIL, Aramco, BP not in race
NEW DELHI: The much-anticipated privatisation process of the Bharat Petroleum Corporation Ltd (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoIs). However, sources said that major energy giants including Reliance Industries, Saudi Aramco and UK’s BP have not placed bids for the state-run oil major. The transaction will move […]
Reliance Industries, BP take over Niko’s 10% stake in KG-D6 block
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have taken over the 10 per cent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. Sources with knowledge of the development said the oil minister has […]
Reliance, BP announce new joint venture to set up 5,500 petrol pumps
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have agreed to form a new joint venture to set up 5,500 petrol pumps and retail aviation turbine fuel to airlines in India, said the two companies said on Tuesday. The companies ” have agreed to form a new joint venture that will include a […]
Reliance, BP get key ship on KG-D6 for expediting gas output
NEW DELHI: Reliance Industries Limited (RIL) and its partner BP plc of the UK have brought a deepsea pipeline laying ship to their Bay of Bengal block KG-D6 to help bring newer gas finds to production by 2020-21, the British firm said. Reliance-BP are targeting to bring to production the R-Series and satellite fields in […]