With shale gas business becoming uneconomical due to low crude oil prices, India’s largest private sector firm, Reliance Industries (RIL) has said it would sell its remaining shale gas assets in the United States — if any company makes it an “attractive offer”. The Mukesh Ambani-led company has invested almost $9 billion in US since 2010.

During interaction with analysts after its September quarter results on Friday, RIL’s Joint Chief Financial Officer Srikanth Venkatachari said the company was not a distress seller of its shale gas assets and at the same time is not looking to acquire any more assets.

Reliance Industries (RIL) hit a new high of Rs 890, up 1.6% on the BSE in early morning trade, after the company reported a 12.5% increase consolidated net profit at Rs 8,109 crore for the second-quarter ended September 2017 (Q2FY18) on back of higher margins from its core refining and petrochemical businesses. The company had reported profit of Rs 7,206 crore in the same quarter of last fiscal year.

Consolidated revenue increased by 24% to Rs 101,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Reliance Industries on Friday reported a strong set of numbers during the July-September quarter, beating estimates on all fronts. Boosted by strong refining and petrochemicals margins, the company’s consolidated net profit excluding exceptional items increased a sharp 12.5% year-on-year to `8,109 crore. The company announced its earnings after market hours.

Gross refining margins (GRMs) for the country’s largest integrated oil and gas major were at a record nine-year-high of $12 per barrel against $10.10 a barrel in Q2FY17, but below estimates of $12.50 a barrel.

Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Reliance Industries Ltd (RIL) is likely to report an increase in profit for the three months to September, benefiting from higher refining margins that will offset weaker earnings from its petrochemicals business.

Stand-alone quarterly net profit is likely to increase to Rs8,687.5 crore on revenue of Rs66,088 crore, according to a Bloomberg poll of seven analysts.

New Delhi, Oct 9 () Reliance Industries and SBI promoted payments bank is in the process of finishing regulatory requirements and have not fixed any timeline for starting operations, an official said today.

"We have not really yet finalised (the launch date). It is not question of time, there are regulatory requirements, we will have to complete that. When that is over, we will start," a bank official told on the condition of anonymity.

Mumbai: Reliance Industries Ltd (RIL) on Friday agreed to sell the first of its shale gas ventures—upstream Marcellus shale gas assets in northeastern and central Pennsylvania in the US—for $126 million.

The assets held by Reliance Marcellus II LLC, a unit of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), were sold to BKV Chelsea LLC, an affiliate of Kalnin Ventures LLC. It is currently operated by Carrizo Oil & Gas, Inc. In 2010, RIL had bought a 60% stake in the assets for $392 million.

Mukesh Ambani-led Reliance Industries seeks to garner $126 Million by selling Reliance Marcellus assets to BKV Chelsea, an associate of Kalnin Ventures. Reliance Marcellus II, LLC, a subsidiary of Reliance Industries announced the signing of agreements to divest all of its interest in upstream assets in north-eastern and central Pennsylvania.

Reliance could receive contingent payments of up to $11.25 million in aggregate based on natural gas prices exceeding certain thresholds over the next three years, according to an ET Now report.

Reliance Industries ltd has jumped five places to rank as the world’s third-biggest energy company behind Russian gas firm Gazrpom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings. State-owned Indian Oil Corp (IOC) broke into the top 10 club, climbing to 7th position in the 2017 ranking, up from 14th rank in 2016. IOC has been steadily climbing the rankings — it was placed at No. 66 in 2015. Oil and Natural Gas Corp (ONGC) was placed at 11th position in 2017 as against 20th in 2016.

The Reliance Industries, operator of the world's largest refining complex, is considering expanding its oil processing capacity by over 40 percent by 2030, according to two sources familiar with the matter.

Reliance may expand the capacity at its dual refinery complex in Jamnagar in Gujarat by 30 million tonnes a year to 100 million tonnes per year, according to the sources, who saw the expansion plans in a presentation by the company on potential energy scenarios to 2030.

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