Posts Tagged ‘ Crude Oil ’

Reliance starts production in Krishna-Godavari basin

In a significant development, Reliance Industries has begun crude oil production from the nation’s first deep-sea oilfield in Krishna Godavari basin, an accomplishment that the firm may announce in the next few days. The company’s predominantly gas-rich D6 block in Krishna Godavari basin on September 17 flowed first oil, said a source in the consortium [ READ MORE ]

Reliance Industries: Refining blues

In the June 2008 quarter, RIL posted GRMs of $15.7 per barrel, which disappointed the Street which had pencilled in margins of $16-17 per barrel, given the sharp rise in crude oil prices. Refining contributes about 55 per cent to the company’s revenues which were Rs 1.37 lakh crore in FY08. Moreover, industry watchers believe [ READ MORE ]

RIL to start crude production from KG basin next month

With a FPSO (Floating, Production, Storage and Offloading) vessel set to stream into Kakinada from Singapore shortly , Reliance Industries Ltd is gearing up to extract crude from its Krishna Godavari basin wells by the second half of September. The MA Fields in the D-6 block in the KG basin will produce about 40,000 barrels [ READ MORE ]

Monetary Policy: 2008

MEASURES ANNOUNCED Repo Rate increased by 50 bps from 8.5 per cent to 9 per cent CRR to be hiked by 25 bps to 9 per cent with effect from August 30, 2008 Bank Rate kept unchanged at 6 per cent Reverse Repo Rate under the liquidity adjustment facility (LAF) kept unchanged at 6 per [ READ MORE ]

NELP VII : Future of Oil exploration

In the recently concluded NELP VII round of bidding under the new exploration licensing policy (NELP) the government has offered 57 oil & gas blocks under NELP-VII. This included 19 deepwater blocks, 29 are onland blocks and nine blocks are in shallow water.  NELP So far In previous six rounds, the government awarded 162 blocks. So [ READ MORE ]

Indian Currency: Impcat of High Crude Price

The fall in the rupee is primarily being attributed to the high crude oil prices, which touched all-time high of over $135 per barrel on May 22, 2008. India imports 73 per cent of its crude oil requirements, thus raising concerns over its widening trade deficit-the difference between the value of goods and services exported [ READ MORE ]

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