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Saturday, Jun 10, 2023 | Last Update : 07:29 AM IST

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Subsequent to this, Reliance's stake in KG-D6 has gone up to 66.67 per cent from previous 60 per cent and that of BP to 33.33 per cent from 30 per cent, the sources said.

Reliance, BP take over Niko's 10 pc stake in KG-D6 block

Reliance and BP plan to split Niko's share in proportion to their existing shareholding in the block.

15 Sep 2019 12:54 PM

Together, proceeds from these transactions will result in a USD 16 billion reduction in RIL's net debt, which will reduce RIL's adjusted net debt/EBITDA by 1.2x from 3.2x for fiscal year 2019, which ended in March 2019, a credit positive, the report said.

Moody's says Reliance stake sale to Aramco credit positive

RIL also entered a deal with BP to sell 49 pc stake in its fuel marketing business in India for USD 1 billion.

14 Aug 2019 11:51 AM

Reliance's existing 1,400-odd petrol pumps, as well as 31 aviation fuel stations, will be transferred to the new joint venture where BP will hold 49 per cent equity stake.

BP to pay Rs 7,000 cr for 49 pc stake in Reliance's fuel retail network

Last week, the two firms had announced a new joint venture to set up petrol pumps and retail aviation turbine fuel in India.

12 Aug 2019 12:12 PM

BP will own a 49 per cent stake in its new Indian joint venture, with the rest held by Reliance, operator of the world’s biggest refining complex.

BP to enter India's fuel retail market with Reliance tie-up

The new venture will take over Reliance’s 1,400-plus retail fuel stations and its aviation fuel business spread across 30 Indian airports.

07 Aug 2019 8:42 AM

The company, beginning mid-2020, will bring to production three sets of new discoveries in the block that will reverse the years of decline in production.

Reliance says its main gas fields in KG-D6 block in late life stage

The fields produced an average of 1.76 million standard cubic metres per day of gas during April-June, the firm said.

21 Jul 2019 1:40 PM

Reliance, which is the operator of KG-D6 with 60 per cent stake, has so far made 19 gas discoveries in the Bay of Bengal block.

BP, Reliance investing USD 5 billion in KG-D6 to produce 1 bcf of gas

The three projects will help reverse the falling gas output from what was once the biggest gas-producing block in India.

17 Jul 2019 6:18 PM

MJ, or D55, development is the third project that the partners have taken up to revive flagging natural gas production from KG-D6 block.

Reliance, BP to develop deepest gas discovery in KG-D6 block by 2022

These projects together, when fully developed, will bring about 1 billion cubic feet a day of new domestic gas onstream.

12 Jun 2019 1:53 PM

"R-Cluster development is on track for first gas in 2H FY21," Reliance said in an investor presentation after its fourth-quarter earnings. (Representative Image)

Reliance to start gas production from R-Cluster in 2nd half of FY21

Reliance and its partner BP Plc had in 2017 announced an investment of Rs 40,000 crore in three sets of discoveries.

19 Apr 2019 6:16 PM

In a rebuff to BP plc, an international tribunal has held that the British energy giant cannot claim any legal cost from the Indian government.

Tribunal rejects BP's claim for legal cost against govt

Dharmendra Pradhan last week said the government will challenge the award in Delhi High Court.

12 Aug 2018 11:53 AM

BP set to roll out its ultra-fast chargers across its filling station network in the UK.

BP acquires electric vehicle charging network Chargemaster

Like rivals Shell, BP is plans to use its vast global network of filling stations to carve out a position in the EV market.

29 Jun 2018 12:46 PM

Under the PSC regime, oil firms are allowed to recover their cost first before earnings from blocks are shared with the government.

Govt plans to reward oil cos with additional exploration rights

Move to open up additional revenue opportunities for incumbent companies.

11 Jun 2018 9:02 AM

Reliance Industries or RIL chairman Mukesh Ambani at an AGM in Mumbai. (Photo: PTI)

KG-D6: Govt slaps Rs 1,700 crore penalty on RIL, BP

Official at Oil Ministry says total penalty on companies now stands at $3.02 bn or Rs 19,344 crore.

15 Aug 2017 3:36 PM

RIL-BP combine do not plan to alter the USD 3.18 billion investment plan for D-34 or R-Series gas field in the same block. (Representational image)

RIL, BP to submit revised investment plan for KG-D6 gas finds

RIL and BP this year announced investing Rs 40,000 cr to reserve the flagging production from KG-D6 block.

14 Aug 2017 2:22 PM

RIL, BP drop 3-year-old gas price challenge

Centre had conditionally agreed to BP Inc’s demand.

24 Jun 2017 3:45 AM

RIL-BP to invest $6 bn in developing new gas fields

RIL chairman Mukesh Ambani said two firms have also agreed on a strategic cooperation.

16 Jun 2017 8:58 AM

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