Mukesh Ambani led Reliance Industries leases storage in the Carribean

Reliance Industries, owner of the world's largest oil refining complex, has leased storage to store gasoline at the Borco oil terminal in the Caribbean, industry sources said on Thursday.

The deal on the 500,000 barrels storage facility was secured sometime towards the end of last year, traders said. "We know they have their eyes on the domestic US market, that is no secret, but it is going to be a while before we see demand there pick-up to pre (financial) crisis levels," a Singapore based trader said. "So now Reliance is also looking at other long markets further South," a Singapore based gasoline trader said.

Reliance, which operates two mega-refineries in the West Coast of India that has a combined crude processing capacity of 1.24 million barrels per day (bpd), has over the past few years embarked on a robust marketing campaign for their products in Europe, Latin Ameica, East Africa and the United States.

Source: http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Reliance-leases-storage-in-the-Caribbean/articleshow/5509090.cms

Reliance leases storage in the Carribean

Reliance Industries, owner of the world's largest oil refining complex, has leased storage to store gasoline at the Borco oil terminal in the Caribbean, industry sources said on Thursday.

The deal on the 500,000 barrels storage facility was secured sometime towards the end of last year, traders said. "We know they have their eyes on the domestic US market, that is no secret, but it is going to be a while before we see demand there pick-up to pre (financial) crisis levels," a Singapore based trader said. "So now Reliance is also looking at other long markets further South," a Singapore based gasoline trader said.

Reliance, which operates two mega-refineries in the West Coast of India that has a combined crude processing capacity of 1.24 million barrels per day (bpd), has over the past few years embarked on a robust marketing campaign for their products in Europe, Latin Ameica, East Africa and the United States.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Reliance-leases-storage-in-the-Caribbean/articleshow/5509090.cms

Reliance Increases Fuel Sales in India to Meet Rising Demand

Reliance Industries Ltd., operator of the world’s largest refining complex, increased its share of sales in India to meet growing demand for fuels.

The Mumbai-based energy explorer and refiner sold 20.65 million metric tons of fuels in the South Asian nation in the nine months ended Dec. 31 compared with 8.01 million tons a year earlier, according to Bloomberg calculations based on export figures released by the company today. The numbers were confirmed by a Reliance spokesman, who declined to be identified in line with company policy.

Reliance, which can process 1.24 million barrels of oil a day, increased its share of fuel sales in India as the global recession cut demand for gasoline and diesel in the U.S. and Europe. The company gave up the export-only status of its first refinery in April after completing in December 2008 a 580,000 barrel-a-day refinery that caters to overseas customers.

Domestic sales as a share of output rose to 47 percent in the nine months ended Dec. 31, compared with 33 percent a year earlier, according to data released by the company. Customers include Indian Oil Corp., the largest state-run refiner, which started purchasing diesel and gasoline from Reliance in April.

“Buying fuels from Reliance reduces our costs,” Gyan Chand Daga, marketing director at Indian Oil, said by telephone from Mumbai today. “Demand for fuels is growing and we need to meet that gap.”

India’s oil product sales grew 3.2 percent in November from a year earlier, compared with a 2.7 percent contraction in demand in major industrialized economies, the International Energy Agency said in its latest monthly report.

Retail Outlets

Reliance has reopened more than 600 retail fuel outlets in India, according to today’s statement. The company mothballed its 1,433 gas stations nationwide as crude soared to a record in 2008, unable to compete with state-owned refiners that sold motor fuels below cost.

The revenue loss for state refiners on sales of motor fuels declined after crude fell from a record in July 2008. Indian Oil said in August it lost 2.30 rupees on every liter of diesel sold compared with a shortfall of 13 rupees a liter in September 2008.

The government partly compensates state refiners for selling fuels below cost without extending the benefit to private refiners, including Reliance and Essar Oil Ltd.

Source:http://www.bloomberg.com/apps/news?pid=20601091&sid=auw0zfU5yliU

Reliance becomes first Indian company to produce Euro IV compliant diesel

Unlike 2005, when the country’s private refiners were late in producing Euro-III compliant fuel, this time the private sector has taken a lead, with Reliance Industries Ltd (RIL) becoming the first Indian refinery to produce Euro-IV compliant diesel.

The first cargo of 25,000 tonnes of Euro-IV grade diesel from RIL’s refinery at Jamnagar was shipped by Hindustan Petroleum Corporation Ltd (HPCL) on Friday, said an informed source. This is also the first coastal supply of Euro-IV diesel for the Indian market.

Sources said RIL was also gearing up to produce the higher grade of petrol. With the private refiner now ready to produce the higher grade, it will be easier for oil marketing companies to ensure the availability of Euro-IV diesel at the retail outlets of all 13 major cities of India by April 1, the target date.

An RIL spokesperson confirmed the sale of diesel. He did not give details on total production, citing trade confidentiality reasons.

Indian Oil Corporation, the biggest oil marketer, and Bharat Petroleum Corporation Ltd have recently floated tenders to import 120,000 tonnes and 60,000 tonnes of Euro-IV diesel, respectively.

Government policy calls for petrol and diesel meeting Euro-IV standards are to be supplied in 13 cities, including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmadabad, from April 1. Euro-III grade fuel is to be supplied across the rest of the country from the same day. The former deadline will be met. Sales of Euro-III will begin in a phased manner between April 1 and October 1.

Source:http://www.business-standard.com/india/news/ril-refinery-first-to-produce-euro-iv-auto-fuel/383580/

Reliance Solar Group Middle East and Africa Exclusive Distributors is PTL Solar

Dr. Farooq Abdullah, Minister for New and Renewable Energy, Government of India, inaugurated the first exclusive international Reliance Showroom at the Dubai Creek Towers in Deira. Rabindra Satpathy, President of Reliance Solar Group was also at inauguration ceremony and informed that PTL solar is appointed as exclusive distributors for the Middle East and Africa region for Reliance Solar Group which is a part of Reliance Industries Ltd.

PTL Solar, experts in solar street lighting solutions and part of Green Energy, has become the exclusive distributor in the Middle East and Africa for Reliance Solar Group, part of Reliance Industries, one of India’s largest private sector enterprises. PTL Solar is highly commended and appreciated at the Power Generation and Water Solutions Middle East Awards 2009 for ”ENERGY EFFICIENCY” AND “POWER GENERATION AND WATER SOLUTIONS INNOVATION OF THE YEAR AWARD 2009“:. The company is also expert in solar street lighting solutions and part of Green Energy LLC.
Business partners, suppliers, and customers of PTL Solar, as well as a few members of a delegation from the Confederation of Indian Industry (CII) also attended the event. Prabissh Thomas, Managing Director of PTL Solar, briefed guests about the offerings of the showroom and the details of the distributorship agreement with Reliance Solar Group.

Reliance Solar Group specialises in solutions ranging from solar lanterns, home lighting and street lighting to water purification, refrigeration and solar air conditioners — all based on solar energy.

As part of its campaign to transform the existing lighting system into solar-based applications, PTL Solar has supplied its solar energy outdoor lighting units GRENlite to Dubai Electricity and Water Authority (DEWA) as well as Tecom Investments’ Dubai Outsource Zone and Dubai Internet City.

In addition, the company has installed solar car park lights for Nakheel in the Waterfront project, as well as illuminated the first automotive factory in the UAE for heavy vehicles assembled by Scania.

India’s crude output to rise as Reliance’s KG D6 expects an increase in production

Reliance Group and Cairn India will help increase nation's crude oil output by 11 per cent and natural gas production by 53 per cent in 2009-10, oil regulator Directorate General Hydrocarbons (DGH) said today.

Speaking at an Assocham conference, DGH Director General S K Srivastava said the country's gas production would double next year when RIL's KG-D6 fields' reach peak output.

KG-D6 field is expected to reach peak output of 80 million standard cubic meters per day by mid-2010.
Srivastava, according to an Assocham statement, said oil production from Cairn's Barmer basin field in Rajasthan is expected to contribute about 18 per cent of the country’s total oil production in near future.

India's crude oil production has been stagnant around 32 million tons for past few years and output from Barmer and KG-D6 fields would raise nation's oil production.

"...After stagnant production for over a decade, in 2009 -10 crude oil production is likely to increase by 11 per cent and natural gas by 53 per cent over previous year," he said.

Cairn's Rajasthan field is currently producing about 20,000 barrels per day while Reliance Industries is pumping out 10,000 bpd from KG-D6.

On the new discoveries, he said increased exploration would result in new discoveries by 2015-16 which would require investment to an extent of USD 25 billion.

He also said that besides conventional oil and gas, the government is actively pursuing other fossil fuel alternatives such as gas hydrates, coal bed methane (CBM) and oil shale.

"The DGH is in the select League of Nations pursuing hard to commercialise gas production from gas Hydrates. Oil share resources are currently under evaluation," Srivastava added.

He, however, regretted that in 8th round of NELP, the Petroleum Ministry could award only 36 oil and gas blocks out of identified 70 blocks due to adversaries of global turmoil.

"Unfortunately, the Ministry will not be able to offer the unbid 34 blocks to prospective investors in the current fiscal as it requires several inter-governmental approvals which take a good deal of time," Srivastava said.

He remained non-committal by what time the unbid blocks will be awarded for oil & gas production.

Speaking on the occasion, D M Kale, Director General, ONGC Energy Centre said that his Corporation is spending Rs 10,000 crore annually to arrest 2 per cent decline in crude oil production.

Source:http://oilandgasindia.blogspot.com/2010/01/crude-oil-production-to-go-up-11pc.html

Reliance to drill six new wells in KG

Reliance Group intends to drill six additional exploration/appraisal wells in the KG-D6 block in 2010. It has proposed to invest $1.5 billion (approx Rs 6,975 crore) more in the proposed block in developing satellite gas finds.
"Six additional exploration/appraisal wells will be drilled this year," said Niko Resources, the
junior partner in RIL-operated KG-D6 block.


Reliance Industries has till date made 19 discoveries-- 18 gas and one oil--in deep-sea block KG-DWN-98/3 or KG-D6. Of these, it developed Dhirubhai-1 and 3 gas fields in the first phase at an investment of USD 8.836 billion.

It has now proposed to invest another USD 1.5 billion in bringing to production four satellite finds in the block.

Dhirubhai-1 and 3 fields, which began gas production in April last year, hold 10.03 Tcf of reserves and are currently producing about 60 million standard cubic meters per day. The peak output of 80 mmscmd likely this year, would double gas availability in the country.

The Mumbai-based firm had in July 2008 proposed to develop 9 discoveries adjoining these two giants at a cost of USD 5.91 billion. But after more techno-commercial viability studies, it decided to narrow down to four finds that can be put to production in next 4-5 years.

Reliance has already submitted a field development plan to the Directorate General of Hydrocarbons for the four discoveries that it estimates hold 0.6 tcf of recoverable reserves.
RIL holds 90 per cent interest in the block and the remaining 10 per cent is with its other partner Niko Resources.
Source:http://www.thehindubusinessline.com/blnus/02061932.htm

Reliance to invest $1.5 bn more in KG-D6

RIL has proposed to invest an additional $1.5 billion in bringing to production four gas discoveries adjoining its prolific gas fields in Krishna-Godavari basin in the country's east coast.

Reliance Group had in July 2008 proposed to develop nine satellite discoveries in the Krishna Godavari basin block at a cost of $5.91 billion, but later narrowed it down to four finds that can be put to production in the next 4-5 years.

The company last week submitted a field development plan (FDP) to the Directorate General of Hydrocarbons (DGH) for the four discoveries that it estimates hold 0.6 trillion cubic feet of recoverable reserves, government sources said.

The sources said, plans to produce 10 million standard cubic meters per day of gas from the four fields for 6 years.

Reliance has till date made 19 discoveries in deep-sea block KG-DWN-98/3 or KG-D6 -- 18 gas and one oil. Of these, it developed Dhirubhai-1 and 3 fields in the first phase. The two fields, which began gas production in April last year, hold 10.03 Tcf of reserves.

Reliance Industries has so far invested $5.8 billion out of the estimated $8.836 billion cost of developing D1 and D3 fields over their entire life. The fields are currently producing around 60 mmscmd of gas and envisage a peak output of 80 mmscmd in 2010.

Reliance Industries has invested $2.234 billion in developing the MA oil field in the block that is currently producing about 10,000 barrels of crude oil per day.

Source:http://www.business-standard.com/india/news/reliance-proposes-15-bn-more-investment-in-kg-d6/82191/on