Despite the best assertions of oil ministry, Mukesh Ambani led Reliance Industries Limited (RIL) stands to recover costs it incurred in the development of its much talked about oil and gas acreage – KG-D6 fields, after gathering a majority support from stake holders in the gas field.
Oil ministry and its technical arm Directorate General of Hydrocarbons (DGH) have tried to prevent this from happening by stating that Reliance Industries can be penalized for fall in output from KG-D6 blocks which were vehemently noted to contain zealous resource acreage. However, RIL, along with other industry officials, have duly noted that geological constraints and uncertainty cannot possibly be gauged by any operator until they are knee deep in the actual process. KG-D6 failed to generate speculated oil and gas resources but, as per recent findings from a study conducted by RIL and its partner BP Plc, the region around KG-D6 continues to hold much promise as against any other field at present.
And while DGH would have liked to amend the action by enabling a resolution in KG-D6 Management Committee (MC), neither the government nor any state run firm has any stake in operations of KG-D6 fields. The MC takes a decision only if it is backed by parties representing at least 70% stake in the block, along with support from government nominee, if any. And if majority outranks the veto presented by a government nominee, the decision is taken in favor of the majority. Because KG-D6 does not have a government nominee, individual stake holders are the ones to decide the fate of KG-D6 cost recovery issue. At present RIL and Niko have stakes in D6 operations, while BP Plc, which signed a deal with RIL to claim 30% stake in its oil and gas acreage, is yet to formally join the production sharing contract (PSC).
DGH has claimed that operator RIL is at fault for not drilling enough wells but it has failed to overlook the extensive work that has gone into KG-D6 over the years. While output has not lived up to its expected mark, it has shown prospect for growth. Plus, this issue has brought to the shore the lack of government’s trust in oil and gas operators. While discrepancies arising from natural factors cannot be avoided or overlooked, government ought to show consideration for development efforts that go into functioning of a major undertaking as KG-D6.

Reliance Industries has been given a reprieve by the DGH in the KG-D6 basin case. The official Statement from the DGH states that INdian govt cannot stop Reliance Industries not recover cost from D6 basin.

3rd January, 2012: Reliance Industries Limited has divested its interest in ETV Channels to TV18 Broadcast Limited (TV18). RIL announced that Infotel, RIL’s subsidiary has inked a Memorandum of Understanding with TV18 and Network18 Media and Investments Limited. By signing the MOU agreement, Infotel gets preferential access to all content of the above mentioned companies, for distribution through the 4G Network being setup by Infotel.
Infotel is geared up to set a pan India world class 4th Generation Broadband Network. Infotel aims at gaining the topmost position in content distribution through broadband technology. It will cater digital content ranging from entertainment, news, sports, weather, education, and many more genres to increase Broadband usage across the nation.
Reliance Industries Limited has investments of about Rs.2600 crores by its group of companies and holds interests in various ETV channels. A part of these investments will now be divested to TV18 Broadcast Limited. The MOU allows Infotel preferential access to (i) the content of all the media and web properties of Network 18 and its associates and (ii) programming and digital content of all the broadcasting channels of TV18 and its associates on a first right basis as a most preferred customer.
Network18 and TV18 are raising funds for the acquisition of ETV Channels through a Rights Issue. Independent Media Trust, setup for the benefit of RIL will fund the promoters of Network18 and TV18 to enable them to subscribe to the proposed Rights Issue.
Reliance further plans to study the various areas of the Indian Markets which include consumer insights and technological expertise. This will help foster the alliance to its best, which will prove accretive to the shareholders of RIL.
India’s leading TV content provider with nearly 25 channels put together with Infotel promises high quality ‘live TV’ experience to broadband customers. Infotel broadband subscribers will receive value added services from Network18’s web portals and e-commerce operations. The concord between these leading companies will leverage the value of Infotel among stakeholders.
About Reliance Industries Limited: Reliance Industries Limited is the flagship company of the Reliance Group of Companies, India’s largest private sector enterprise. RIL is India’s first private sector company which featured in the Fortune Global 500 list of ‘World’s Largest Corporations’. RIL holds the 119th position amongst the world’s Top 200 companies, in terms of profit. In 2010, Reliance Industries Limited was the second highest ‘Sustainable Value Creator’, for creating the most shareholder value in the world.

Reliance Industries has divested its interests in ETV channel to TV18 broadcast limited. This step comes as Reliance wants to strengthen the foundation before launching its 4G broad band services under the Flagship company Infotel.

Mukesh Ambani, the eagle forte of India’s largest private sector enterprise –Reliance Industries Limited (RIL) – may be facing a bump in the road to his dream project realization, but this dynamic one is optimistic that his dream will be released soon; even if it has to switch locations.
MahaMumbai Special Economic Zone (MSEZ), a dream venture for this visionary, is a project of mammoth proportions with great potential for tremendous end results. MSEZ would have been a signature project for Maharashtra; a state that hasn’t seen projects of this degree for many years now. The development of the special economic zone in the Raigad district, a multi-product development unit, is facing termination due to bouts of some protests, but this has not hampered the dreams of Mukesh Ambani and his right hand associate Anand Jain- the duo who conceived this brainchild with immense aspirations.
The project was initially approved in the year 2005. The SEZ was to be built between the upcoming Navi Mumbai airport and Pen towards the south and Uran towards the west. Mukesh Ambani and Anand Jain had projected an investment of Rs 35,000 crore over a period of 10 to 12 years for this great leap of faith, that could have transformed not only the district’s economic stand, but could have acted as a catalyst of major growth that Maharashtra is trying to attain for some years now. Even as the state tries to follow the footsteps of ‘Vibrant Gujarat’ enterprise, this mammoth project could have been the first step to the fore.

The export potential of the entire project was calculated at around Rs 75,000 crore with 20 lakh people directly or indirectly employed. Some sources said the project could have had the potential to wipe out 20% of Maharashtra’s unemployment woes.

Nevertheless, even as the state decided to scrap this colossal project in the name of incursion, both Ambani and Jain are buoyant and positive in taking their hobbyhorse to new turfs.

Mukesh Ambani has planned an SEZ near Gurgaon and Jhajjar, that some have billed as the country’s largest. The ongoing project in Navi Mumbai is taking a magnanimous course to ascertain that the twin city and the state are reaping the benefits of development that Reliance will foster in time to come.

When one looks at India from an industrious point of view, the picture becomes incensed with images of hardworking, determinant and value oriented people. But for most part, this image stands as an epos of a company that has for long been the symbol of trust, value belief systems and excellence unsurpassed. The house of Reliance Industries Limited (RIL) is one such enterprise whose existence has given India a whole new spectrum of opportunities and whose contribution to growth channels has truly augmented India’s stand on the global platform.

When speaking of Reliance Industries Limited, the most prominent picture that first catches the mind is that of its dynamic spearheading eagle forte, Mukesh Ambani. Taking his father’s strong suit and enhancing it to a passel of varied new brand extension, Mukesh Ambani has been able to reach out to every nook of industrious existence with excellent métier.

For an enterprise as RIL, it has always been a matter of commitment to excellence over the years and beyond. Such an ambitious vision can become a tangible reality given the efforts of every individual of the organization. And for Reliance, the pillars of strengths that support Mukesh Ambani go by the name of PMS Prasad, Manoj Modi and Anand Jain. The quartet are possibly responsible for taking the company from core industry systems and extending its footing to whole new avenues. Not only did they conceive and implemented the process of value addition to existing boughs but they successfully applied the same to newer ventures that helped Reliance enjoy a stead fast domestic footing with a very gleaming manifest in the global industrial arena.

PMS Prasad has been the energy executive of Reliance. His contribution in taking the energy and refinery function of Reliance to global standards is more than just stupendous. A visionary at heart, he has always perceived for Reliance an image of a global leader and hence, the derivative leadership qualities that stem from such a vision are simply magnanimous.

Manoj Modi has been the third arm of Reliance, the Man Friday as they say. He is someone who learns from practical experience rather than theoretical assumption. And it is this intuitive pursuit of more that has ignited in him the drive and commitment to take Reliance ventures to greater heights. His precise analytical abilities and well thought understanding of state of things empowers him to guide Reliance with immense chutzpa.

Anand Jain is Mukesh Ambani’s key advisor and is the final word on all critical issues. He is one of those eminent futurists who dare to dream beyond perceived realms. His contributions to the development of infrastructural undertakings of Reliance, like the SEZ and IPCL, are esteemed, and his pursuit of the best through the company that is perhaps India’s best is what fuels his ambitions.

For it is because of such a tremendous team of dedicated function heads that Reliance Industries Limited (RIL) today stand on such a pedestal.

It will now be Reliance Industries catering to your needs when you fine dine at The Trident or lay back in the lap of luxury at The Oberoi Hotel. Reliance Industries Limited, led by Mukesh Ambani, Asia’s richest man, announced that it had bought a 14.12 per cent stake in EIH Limited, which owns and manages several hotels in the country including the Oberoi and The Trident brands.
“The acquisition was made through RIL’s wholly-owned subsidiary Reliance Industries Investment and Holding Private Limited from Oberoi Hotels Private Limited and certain other promoters of EIH Limited” a statement from the company said.
“RIL’s investment in EIH Limited has been made as the Oberoi family had developed the ‘Oberoi Hotels’ brand into a premier international brand in the luxury hospitality sector and as a result EIH Limited has excellent future prospects,” the statement added.
The entire deal has set back RIL by a whooping Rs. 1,021 Crores. But knowing Reliance, one cannot be surprised at the enormity of the figures the deal has witnessed. Reliance is a very diverse and flexible company, a fact which is again proven by the mentioned deal.
In a statement, RIL said that the investment in EIH Limited had been made as the Oberoi family had developed the “Oberoi Hotels” brand into a premier international brand in the luxury hospitality sector. The company noted that EIH Limited has excellent future prospects. The statement also said that there would be no change of management, operation or control of EIH Limited.
RIL is likely to get one seat on the board of EIH Limited for its stake. Sources said that there was no immediate plan for an open offer. Sources also confirmed that this was a strategic investment and probably the first step for the petrochemical major to enter the hospitality segment.
Now with Mr. Ambani investing aggressively in the hospitality business, it would be interesting to know whether his competitors follow lead and this inception triggers a series of aggressive investments mounting to huge amounts. Only time will tell what is in store. But for the moment, it’s Reliance at your service.

India’s leading Industrialist Mukesh Ambani, CMD, Reliance Industries is now entering the world of Bollywood. According to sources, India’s Energy giant Mukesh Ambani and czar of Bollywood Yash Chopra might join hands to produce a film in the near future.
Mukesh Ambani’s Reliance Retail and Yashraj Films may float a 74:26 JV to set up multiplexes, run entertainment channels and produce soap operas for television. The new company formed out of this JV will use the upcoming malls of Reliance Retail nationwide to set up multiplexes.
“I love watching Bollywood movies and Yash Chopra is one of my favourite filmmakers. I have always believed that he has a Midas touch”, said Mukesh Ambani, Chairman, Reliance Industries. Mukesh Ambani has been a fan of Yash Chopra’s films since his younger days. It is said that despite the fact he has to spend lot of time in his business, he still finds time to watch latest movies with his family and friends in his Sea wind home.
The business tycoon is willing to invest a whopping amount of Rs. 200 Crores for this new venture. “Everything is at the nascent stage and no company will be forthcoming to talk about it right now,” says a source.
This move yet again demonstrates the diversity and flexibility of Reliance Industries to explore unknown territories. Mukesh Ambani may well bring about a revolution in the entertainment industry. With the amount of investments he would bring in, who knows, an Indian equivalent AVATAR may hit the box office very soon.

Mukesh Ambani’s RIL is now in talks with telecom equipment giant Alcatel-Lucent to procure broadband gear, a senior company official said.
Munish Seth, the newly appointed country head for the company’s Indian business, told reporters that Alcatel-Lucent expects the first set of broadband gear orders to come in early 2011. “We are in initial level of talks with most of the people who have won the spectrum. These majors include India’s largest listed conglomerate, Reliance Industries, and Tikona Digital Networks.” he added.
Earlier this year, many of the India’s top mobile firms like Bharti Airtel, Vodafone, Tata Teleservices and Idea Cellular spent a combined over $20 billion to grab licenses in recent auctions of 3G and broadband wireless radio airwaves in the fastest-growing cellular market.
But, the dark horse was yet to arrive as Reliance Industries, controlled by billionaire Mukesh Ambani, made a dramatic return to the telecom business with the $1 billion acquisition of Infotel Broadband, which was the only company to win a nationwide license for broadband wireless spectrum in the government auction. The future plans for RIL are quite aggressive as well. They plan to invest about $5 billion in the venture over the next two years.
Considering that Alcatel-Lucent Chief Executive Ben Verwaayen had mentioned in June that they are considering setting up their global services headquarters in India which would require an investment of $500 million in investments over three years, Mukesh Ambani may be the jack of the pack amongst its competitors.
All these decisions though are facing issues regarding Regulation Concerns as India has India tightened rules for telecom gear imports saying vendors must allow inspection of their equipment and made carriers solely responsible for the security of their networks, addressing security worries that had led to restrictions on Chinese manufacturers. Such regulation norms are proving to be bottlenecks in the process.
Alcatel-Lucent is a pretty huge player in the field and it would be quite beneficial for Reliance Industries if this deal goes in their favor and will soon be fierce contenders for Bharti Airtel for the top slot in the mobile communication industry.

Marks and Spencer Reliance India, a joint venture between Mukesh Ambani-run Reliance Retail and UK-retailer Marks and Spencer Plc, intends to open 15 stores in two-years, mainly in the metros, a top company official said.

“We are looking to open 10-15 stores in the next two years mainly in the metros. We’re aiming to open larger stores which will showcase a fuller range of our product catalogue,” said Marks and Spencer Reliance India, Head of Marketing, Nandini Sethuraman.

In order to display the wide range of product catalogue properly, the company desires to open spacious stores approximately 10-15.

Marks and Spencer announced plans to open 50 stores in India in the next five years when it formed the joint venture in 2008. The retailer said the target remains.

“Our plan is to open larger stores between 15,000 sq ft and 35,000 sq ft. By 2014, our aim is to have 50 stores. It all depends on momentum and right locations,” Sethuraman said.

Currently, the company has 18 stores across India in destinations such as Delhi, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai with an average size of about 5,000 sq ft to over 22,000 sq ft in conjunction with Reliance Retail.

Reliance Industries Limited (RIL) has announced discovery of another oil well in Cambay basin.

This discovery, named ‘Dhirubhai–50’, the seventh oil discovery in the block so far, has been notified to the Government of India and to the Director General, Directorate General of Hydrocarbons. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis. This discovery supplements the understanding of the petroleum system in the Cambay basin in general and this block in particular. Based on interpretation of the acquired 3D seismic campaign in the contract area, several more prospects with upside potential have been identified at different stratigraphic levels.

The discovery is significant, as this play fairway is expected to open more oil pool areas leading to better hydrocarbon potential within the block. The block CB-ONN-2003/1 is located at a distance of nearly 130-km from Ahmedabad, Gujarat in the Cambay basin. The block covers an area of 635-sq km in two parts, viz. Part A & Part B. RIL, as Operator, holds 100% Participating Interest (PI) in the block.
The site in Cambay basin is located at 130 km from Ahmedabad, Gujarat. “The potential commercial interest of the discovery is being ascertained through additional data gathering and analysis,” the company said in a statement to the Bombay Stock Exchange (BSE).

It is being reported that the well flowed about 410 barrels of oil per day and the company has 100 percent interest in the block. After the news, the scrip of RIL was trading at Rs. 1,081.80 which was up by 1.74 percent on the Bombay Stock Exchange (BSE).

Reliance Industries Limited, one of the India’s biggest groups keeps expanding itself globally as well as in the domestic Indian market. Reliance Industries Limited proposed a takeover of LyondellBasell, the third largest independent petrochemical company based in Netherlands last year. However in March, 2010, the company rejected a $14.5-billion takeover offer from RIL. According to the international media, the Netherlands-based company looks positive and expects more bids in the years to come. On being asked if the news is true, nobody was available to comment from Reliance Group. The Senior Vice President, LyondellBasell feels that the failure of RIL to acquire the Dutch firm may not be the end of the story. According to the industry analysts, the opinion of the executives of LyondellBasell can be seen as an attempt to tell RIL that fresh takeover will be beneficial for the company.

According to the reports published in the international media, Anton de Vries, the Senior Vice President, olefins and polyolefins, LyondellBasell was quoted as saying, “The bid didn’t work out, but I think it may come back in years to come.” RIL decision to takeover LyondellBasell came after the company declared itself bankrupt and it was RIL’s attempt to bring the company back to its status. The reports also reveal that the creditors thought their upside potential would be restricted if the Reliance Industries Limited could have taken over LyondellBasell with majority share to emerge from bankruptcy. LyondellBasell rejected Rs. 66,700 crore offer from RIL as the board of directors opted for restructuring the company instead of giving control to Reliance Industries Limited. The company thought in favour of its creditors as it was their main concern.

Last week, in the 36th annual general meeting, Mukesh Ambani, while addressing the shareholders, looked positive about further expansions and said, “Reliance will, of course, explore and seize opportunities elsewhere in the world and plant the Indian tricolour at many places on the global business map.” Mukesh Ambani further said that the company is setting up a new plant in Jamnagar which will produce over 1.5 million tonnes of olefin and it will be one of the largest facilities in the world. LyondellBasell declared bankruptcy in January, 2009 with debts mounting to $24 billion and according to the reports, later debt worth $18 billion was converted into equity. In the same year Reliance Industries bid for the takeover in order to take the company out of bankruptcy.

Source:http://news-views.in/reliance-industries-eying-lyondell-again/