IndiaCatalog.com
India News
Search Web Directory
News Home
Reliance Industries puts off gas bid for the second time to November 15
Posted on 7th November 2019
Mukesh Ambani-promoted Reliance Industries (RIL) on Wednesday postponed bidding for gas it plans to produce from its R-cluster field in the Krishna-Godavari (KG) basin, said sources. This is the second time RIL has changed the bidding date; the new date is now November 15.

Sources in the company said bidders want more time to adapt to the new bidding system. Some added RIL may be facing lack of interest from potential bidders.

“There is a lack of interest from bidders; they are not keen, given the current set of terms and conditions for the bidding,” said a source.

An RIL spokesperson said, “We have got a very good response from customers. The date has been postponed to accommodate request from customers for additional time to complete their internal processes and preparing bid-related documentation.”

Sources in the company said, “Bidders have requested for more time. They need to be more conversant with the system.”

RIL, along with UK partner BP, will be selling 5 million standard cubic metres a day from its R-cluster field in the KG basin through an e-auction mechanism. The original date for bidding was set at October 11, which was then moved to November 6. In its investor presentation for the September 2019-ended quarter, RIL said work on the R-cluster is on track for first gas in mid-2020.
In September, Business Standard reported the discovered price through e-auction, will be capped by a ceiling set by the government every six months for gas produced from difficult fields. The base price would be 9 per cent of the average Brent price for three months preceding the delivery date.

CRISIL Risk & Infrastructure Solutions is the appointed manager for the auction, to be conducted on the platform of ProcureTiger, a brand of Gujarat-based e-Procurement Technologies.

Through its investment in the R-cluster series, RIL is attempting a second try at India’s hydrocarbon exploration and production sector. With two of its clusters, R-series and Satellite series, likely to start production in the next two years, the company looks to turn around production from this business. Any significant delay in finding buyers for the production from these assets may further hurt the company’s E&P business. For the September 2019-ended quarter, RIL’s E&P segment reported earnings before interest and tax loss of Rs 306 crore.
Related Companies: Reliance Industries Limited (RIL)   

Other Latest News
China delaying permission to India for sending plane to Wuhan: Official
Posted on 22nd February 2020

China is delaying grant of clearance to India's proposal to send an Indian Air Force plane to carry relief material for people affected by coronavirus in the neighbouring country and bring back Indians from its city of Wuhan, official sources said on Saturday.

India was to send a C-17 military transport aircraft to Wuhan, the epicentre of the coronavirus outbreak, on February 20 but the plane could not take off as permission was not granted.


Centre pays Rs 50,850 crore to farmers under PM-KISAN scheme
Posted on 22nd February 2020

The Centre on Saturday said it has disbursed Rs 50,850 crore to farmers so far under its landmark scheme PM-KISAN, enabling them to meet farm input cost and household expenses.

The agriculture ministry shared the progress made under the scheme, ahead of its first anniversary on February 24.

The PM-KISAN was formally launched on February 24 last year by Prime Minister Narendra Modi at Gorakhpur, Uttar Pradesh.


Technology will help deliver speedy justice: PM Modi at International Judicial Conference
Posted on 22nd February 2020

Prime Minister Narendra Modi on Saturday said that the synergy technology and human conscience will result in a speedy justice system in India and the Centre has made efforts to connect every court of the country to the e-court Integrated Mission Mode Project.

The establishment of National Judicial Data Grid will also make court procedures easier, he said.


After merger approval with Indus, Bharti Infratel board to meet on Feb 24
Posted on 22nd February 2020

Bharti Infratel on Saturday said its board will meet on February 24 to chart out the future course of action following the telecom department's approval for merger with Indus Towers.

The combination of Bharti Infratel and Indus Towers will create a pan-India tower company with over 163,000 towers, operating across all 22 telecom service areas. The combined entity will be the largest tower company in the world outside China.


Arvind Kejriwal, Manish Sisodia barred from attending Melania Trump's Delhi govt school visit: AAP
Posted on 22nd February 2020

In a bizarre turn of events, Delhi Chief Minister Arvind Kejriwal and Deputy Chief Minister Manish Sisodia have reportedly been barred from attending the event at a Delhi Government school where First Lady of the United States Melania Trump is scheduled to visit next week.

Delhi Government sources claimed that Kejriwal and Sisodia were dropped from the school event, even though were earlier set to attend the programme since the school comes under the Delhi government.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Reliance Industries puts off gas bid for the second time to November 15
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Reliance Industries puts off gas bid for the second time to November 15

Most Read News

Engine of GoAir flight catches fire during takeoff; all passengers safe

Kejriwal calls meeting with officers to discuss water supply, healthcare

IndusInd Bank hits lowest level since January 2017, slips 16% in 8 days

Prashant Kishor likely to get 'Z' category security cover in West Bengal

Graphite India slips 5%, nears 52-week low on Rs 353 crore net loss in Q3

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020 IndiaCatalog.com
    All Rights Reserved
Privacy Statement