-
Tuesday, June 29, 2010
-
Reliance Retail Expansion Plans 2010-11
-
-
Reliance Industries makes 7th oil discovery in Cambay
-
Monday, June 28, 2010
-
RIL’s Jyotindra Thacker to lead Reliance Industries’ Telecom Venture
-
Friday, June 25, 2010
-
Reliance Group might bid for Lyondell again, think Execs of the Dutch firm
-
-
Reliance Industries to tap US shale market, announces JV with Eagle FordReliance Industries to tap US shale market, announces JV with Eagle FordMukesh Ambani, chairman of Reliance Industries Limited, India’s most valuable private sector corporate, confirmed that the long term association with various US based companies to tap the Shale gas sector will be beneficial for the growth of RIL. Reliance Industries Limited announced that it is planning to have a joint venture with the US-based Pioneer Natural Resources Company of Irving. According to the reports, Reliance Industries Limited is going for this deal with its subsidiary Reliance Eagleford Upstream LP and under this, RIL will acquire 45 per cent in Pioneer’s core Eagleford Shale acreage position. As per the reports, following the transactions, all three companies, Pioneer, Reliance and Newpek will own 46%, 45% and 9% interests respectively. However the share price of Reliance Industries Limited fell to 0.7% as the investors are not happy with this deal to acquire Shale gas from US. According to Deven Choksey, MD, KR Choksey Securities, RIL’s decision to buy 45 % stake in Pioneer Natural Resources, will help the company grow in terms of assets. He also feels that the deal will lead to the value appreciation of 20-22 per cent per share of RIL. The joint venture may also lead to increased current drilling program to approximately 140 wells per year within a short span of three years. As per the sources at Reliance Industries Limited, Pioneer Natural Resources Company of Irving will work as the development operator for this joint venture whereas Reliance Industries Limited will begin as the development operators in the years to come. Reports reveal that Reliance Eagleford Midstream LLS, Reliance’s subsidiary will pay $46 million to acquire a share of 49.9 per cent. Under this agreement both the companies, Pioneer Natural Resources Company of Irving and Reliance Industries Limited will have equal governing rights, however the operator will be the Pioneer Natural. Speaking about this joint venture by RIL, Executive Director, Reliance Industries, Mr. PMS Prasad said, “Reliance is very pleased to establish a long-term partnership with Pioneer in the Eagle Ford shale. This transaction represents another significant milestone in Reliance's efforts to grow its North American shale gas operations.” Addressing shareholders at the company’s annual general meeting, Mukesh Ambani talked about the future plans related to Shale gas expansion and said, “Reliance aspires to build a significant position in the shale gas business. During the year, we will continue to pursue such joint development opportunities with the best operators as well as on our own to build a substantial upstream business in North America.” Source:http://news-views.in/ril-and-pioneer-natural-resources-announce-eagle-ford-shale-jv/
-
Thursday, June 24, 2010
-
Reliance Industries eying MTNL for 3G Franchise
-
Friday, June 18, 2010
-
Mukesh Ambani highlights Reliance’s core competencies at its 36th AGM
-
-
Reliance Industries eying 26% stake in Pipavav Shipyard
-
Thursday, June 17, 2010
-
Reliance may buy 26% stake in Fortis
-
-
RIL expected to bid for upcoming mega power plant in Chhattisgarh and Orissa
-
Tuesday, June 15, 2010
-
Reliance Industries restarts FCCU at new refinery
-
Friday, June 11, 2010
-
RIL makes sixth oil discovery in block CB–ONN–2003/1
-
-
RIL aims to Usher in Broadband Revolution in India
-
Thursday, June 10, 2010
-
RIL drawing up plans to foray into telecom space
-
-
Reliance Jewels opens first store in Coastal K'taka
-
Wednesday, June 9, 2010
-
Reliance Brands: Launches Paul & Shark
-
-
‘Reliance Living’ makes its debut in Bangalore
-
Tuesday, June 8, 2010
-
Reliance Jewels Shines in City Centre Mall, Mangalore
-
Monday, June 7, 2010
-
Reliance looking to offer 3G Handsets
-
Saturday, June 5, 2010
-
Reliance Retail all ablaze in Flamez
-
-
25th Reliance Trends in Mangalore
-
Friday, June 4, 2010
-
Reliance Life Sciences and TAKE Solutions Enter Into a Strategic Alliance
-
-
Reliance Retail to launch jewellery store in Kolkata by October
-
Thursday, June 3, 2010
-
Reliance Industries looking to make low-cost 3G handsets
-
Wednesday, June 2, 2010
-
Coal to power RIL's future ambitions
-
Tuesday, June 1, 2010
-
Reliance TimeOut launches its third store in Mumbai
-
-
Reliance Jewels opens store in Nashik
