Diversified conglomerate Reliance Industries (RIL) has become the top-ranked Indian company to feature in the latest Fortune Global 500 list.

The oil-to-retail major has toppled state-run Indian Oil Corporation (IOC) as the top-ranked Indian company.

An arbitration tribunal has been constituted to resolve the dispute between Reliance Industries (RIL)-BP and Canadian firm Niko Resources over payment defaults related to field development cost by the latter for its 10% participating interest (PI) in the KG-D6 gas block. The tribunal will soon start the proceedings, RIL said in its annual report for 2018-19.

To reverse the decline in production of natural gas fields in KG-D6 block in Bay of Bengal, Reliance Industries (RIL) said it is likely to start production at the three new sets of discoveries in the block by mid-2020.

The production decline in the blocks over the years has brought it to 'late life stage' though it has not plummeted to an all-time low.

Reliance Industries Ltd (RIL) on Friday reported a 6.8 per cent increase in its net profit at Rs 10,104 crore for the quarter ended June this year on the back of a record 22 per cent jump in revenue at Rs 1.72 trillion.

Consumer businesses contribute 32 per cent of the consolidated segment gross earnings (or earnings before interest, taxation, depreciation, and amortisation, or Ebitda) for the quarter.

The operating profit of Mukesh Ambani promoted Reliance Industries' (RIL) is expected to take a hit in the June quarter. Analysts estimate a decline in earnings before interest, taxation, depreciation and amortization (EBITDA). The company is also expected to see its slowest profit growth in the last 15 quarters. RIL will report its June 2019 ended quarter results on Friday.

Reliance Industries Ltd (RIL) Monday said it has tied up with Turkish textile manufacturer Kivan Tekstil to manufacture and market its sustainable and eco-friendly fabric brand R|Elan's GreenGold fabric in Turkey.

"Apart from manufacturing and marketing R|Elan GreenGold fabrics, Kivan will be the exclusive distributor of Recron GreenGold fibres to spinners, yarn manufacturers and knitters across Turkey.

The Ministry of Corporate Affairs (MCA) has sent a notice to Reliance Industries Ltd (RIL) over violation of the Corporate Social Responsibility (CSR) norms.

The government may soon start inspection of its CSR projects, where the company has reportedly spent 2% of its net profits as mandated by the law.

Reliance Industries has toppled state-owned Indian Oil Corporation (IOC) to become the country’s biggest company by revenue.

In 2018-19, Reliance has reported a turnover of Rs 6.23 lakh crore. In comparison, IOC posted a turnover of Rs 6.17 lakh crore for the fiscal, according to regulatory filings by the two companies.

The Mukesh Ambani-led Reliance Industries (RIL), which was about half the size of Indian Oil Corporation (IOC) till nearly 11 years ago, has displaced the public sector refiner as the biggest company by revenue.

While the net revenue of RIL surged by 44.8% in FY19 to `5.67 lakh crore, the revenues of IOC rose by 28.03% during the year to `5.28 lakh crore — `38,986 crore less than that of RIL, Bloomberg data show.

Reliance Industries along with BP have bid for an exploration acreage for the first time in their eight-year partnership under the government’s open acreage licensing policy for oil and gas that has put 32 blocks up for auction.

Reliance-BP has made an offer for one block in the Krishna-Godavari basin. The block had been demarcated by BP earlier.

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