$80.2 million goes into Govt kitty as profit petroleum from D6

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Mar 092012
 

In spite of advanced technology, reservoir uncertainties are part and parcel of the industry. P. M. S. PRASAD, EXECUTIVE DIRECTOR, RELIANCE INDUSTRIES LTD While the Government’s loss is only lower profits, the contractor stands to lose his investment. Be it gas pricing or falling output from the country’s largest gas fields, Mr P. M. S. Prasad, Executive Director, Reliance Industries Ltd, is held responsible for all. Once a backroom boy of Mukesh Ambani’s petroleum business, today he is the most sought-after man in the sector. Reliance […]

Reliance–BP deal wins Euromoney Deals of the year 2011 award

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Feb 212012
 

The eventual realization of the deal between Mukesh Ambani-owned Reliance Industries Limited (RIL) and Robert Dudley-led London based energy giant BP Plc. was recently acknowledged by the UK based business and finance publication Euromoney as one of the winners of Euromoney Deals of the year 2011 award. The $9 billion deal, which caught global attention for its sheer scale and scope, was one of the most talked about and scrutinized deals of 2011. It saw the coming together two of the most powerful energy-based companies […]

Reliance’s $1-billion deal spurs dollar bond sales

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Feb 162012
 

Bond sales in dollars by Indian companies are outstripping loans for the first time in five years as banks worldwide lend less in response to Europe’s debt crisis and rising capital requirements. Borrowers have raised almost $1.7 billion in 2012, led by billionaire Mukesh Ambani’s Reliance Industries, which sold $1-billion worth of 10-year notes last week. Companies’ syndicated loans denominated in the US currency totaled $505 million, the least since 2004, according to data compiled by Bloomberg. The last time bonds beat loans at this […]

Sep 282011
 
Narendra Modi has made India and Indians proud: Mukesh Ambani

Reliance Industries Limited chairman and managing director Mukesh Ambani praised Gujarat chief minister Narendra Modi for doing so much in Gujarat putting it on the world map. Mukesh said, “Modi had made India and Indians proud with his great development efforts. Mukesh Ambani praised the administrative qualities of Narendra Modi as well and even said, “Every state needs a Chief Minister like him.” “Modi’s hard-work for Gujarat is really showing up and he would definitely make it a number one state of Asia.” The world is taking note of Gujarat’s […]