Reliance Industries has emerged as the top company in terms of corporate social responsibility (CSR), having spend over Rs 760 crore, followed by state-owned ONGC and IT giant Infosys, Parliament was informed today.

In a written reply to Lok Sabha, Corporate Affairs Minister Arun Jaitley said a total of 460 listed firms have so far disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs that spent Rs 2,386.60 crore.

NEW DELHI: ONGC has alleged that RIL in a "well-planned and deliberate strategy" produced about $1.4 billion worth of its gas over past six years and demanded that the Mukesh Ambani firm pay full compensation with 18 per cent interest.

Reliance Industries had in 2001 and again in 2007 acquired seismic data to study hydrocarbon reservoir lying several hundred meters below the sea-bed not just in its Bay of Bengal KG-D6 block but also of neighbouring blocks of ONGC without the knowledge of the state-owned firm, it alleged.

NEW DELHI (Reuters) - Reliance Industries Ltd , owner of the world's biggest refining complex, is preparing to lift oil from Iran next month after a gap of about five years, said an industry source with knowledge of talks between the two.

The conglomerate, controlled by billionaire Mukesh Ambani, stopped Iranian oil imports in 2010 because it was worried that the threat of U.S. sanctions on companies doing business with the Islamic republic would complicate its efforts to boost market share for its fuels in the United States.

NEW DELHI: Oil and Natural Gas Corporation (ONGC) has told the Justice AP Shah committee that Reliance Industries Ltd (RIL) and regulator Directorate General of Hydrocarbons (DGH) knew gas from the stateowned company's blocks in the Krishna-Godavari basin was flowing into RIL's holdings in the area.

It sought an explanation from the regulator for this along with compensation from the company for the lost gas.

In a significant U-turn in its approach towards the ongoing gas dispute with state-run Oil and Natural Gas Corporation (ONGC), the Mukesh Ambani-controlled Reliance Industries Ltd (RIL) has decided to participate in the proceedings of the government-appointed Shah Committee that is looking into the matter.

“The second meeting of the Shah Committee was held a couple of days ago. RIL attended the meeting and (its representatives) said we would like to participate. Niko Resources also participated,” ONGC Chairman D K Sarraf told a media gathering while announcing the company’s third quarter results. He was responding to a question on the status of the controversial gas dispute.

Reliance Industries' domestic exploration and production segments could see an uptick with the company planning to begin production from its coal-bed methane (CBM) blocks in the next three months. In its financial presentation on the website, RIL stated that phase one development was nearing completion and the first gas was expected shortly. It plans to produce 3.5 million standard cubic meters per day of gas from the two Sohagpur blocks in the state. However, pricing could be an issue.

RIL, along with other private players Essar Oil and Great Eastern Energy Corporation, is seeking freedom to sell gas from their blocks at market price. CBM contracts allow sale of gas at arms-length price. But that freedom was taken away by the earlier government by bringing CBM gas under the purview of the gas utilisation policy, giving the pricing freedom to the government.

Reliance Industries (RIL) has dipped 4% to Rs 999 on the BSE on profit booking after the stock had gained ahead of its third quarter earnings.

The company late Tuesday announced a 39% increase in its consolidated net profit at Rs 7,290 crore for the third quarter of this financial year (Q3FY16).

Reliance Industries shares gained as much as 2.8 per cent intraday on Monday ahead of its Q3 results later in the day. Market experts are predicting a double digit growth from the quarter ended December 2015.

At 2.05 pm, RIL shares were trading 2.21 per cent up at Rs 1039.15. The scrip opened at Rs 1018 and had touched a high and low of Rs 1047 and Rs 1015.20, respectively, in trade so far.

The Reliance Industries-operated KG-D6 gas block, once regarded as capable of transforming India’s energy sector, could cease to produce by 2020, sources privy to the situation say. The existing fields in the block are drying up faster than assumed earlier and the explorer may not spend on development of newer areas in the absence of ‘remunerative’ gas prices, they told FE.

Production from the block — officially called KG-DWN-98/3 — peaked in the last quarter of FY10, when it touched 60 million metric standard cubic metre per day (mmscmd), and has since plummeted to the current level of 9.5 mmscmd.

Reliance Industries (RIL) shares hit new 52-week high on Wednesday after reports that its subsidiary Reliance Jio Infocomm (RJIL) has received approval from the government’s green panel to build the Indian part of the Asia-Africa-Europe One (AAE-1) submarine cable under the Coastal Regulation Zone (CRZ).

At 1.56 pm, shares of RIL were trading 3.59 per cent up at Rs 1082.60. The scrip opened at Rs 1054.80 and had touched a high and low of Rs 1085.40 and Rs 1019.35, respectively, in trade so far. Sensex was up 51.90 points at 24733.93.

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