Now that the government has allowed a higher gas price of USD 6.3 per million British thermal unit for yet-to-be-developed gas finds in difficult areas like the deepsea, Reliance Industries and BP have decided to take up their development.
RIL in the notice has said that the October 2013 order breached its right to retain the fields and the time period for approving these discoveries ‘never expired’.
All the three companies have challenged the implementation of Section-24 (2), claiming it was “unconstitutional.”
Ambani said that the world is at the cusp of digital transformation and Punjabi can play a major role in it.
The top court had said that the High Court committed jurisdictional error in agreeing to hear the government’s plea.
RIL has been resisting paying the penalty and has invoked an arbitration case against it.
The third PIL on the issue has been filed by advocate ML Sharma.
He joins RIL as one of the eight independent directors on its 14-member board.
RIL said it has launched a “robust internal probe” into detention of one of its employees.
RIL has posted a 4.5 per cent fall in its net profit at Rs 5,256 crore for the third quarter.
RIL will own a majority 51 per cent in the proposed JV, with the balance 49 per cent owned by Shandong Ruyi.
Reliance and Pemex will also explore international markets for “value added opportunities”, RIL said in a statement.
Govt will not give the new price benefit to Reliance Industries Limited until the issue of supply shortfall is resolved.
RIL shares closed 0.26 per cent lower at Rs 957.85 on the BSE on Monday.
The Securities and Exchange Board of India (Sebi) has slapped a penalty of Rs 13 crore on Reliance Industries Ltd (RIL) on the issue of correct disclosure of diluted earning per share (DEPS) — a key earnings ratio — for six quarters after a warrant issue. The penalty includes a fine of Rs 1 crore […]