The less-than-anticipated gas production from Reliance Industries' flagship KG-D6 fields may have impacted fortunes of a number of its customers, but the company and its two partners have made almost two dozen interventions to arrest the decline from D1 and D3 discoveries. RIL, British Petroleum (BP) and Niko have together invested Rs 4,500 crore in the past two years to sustain production, said a person close to the development.

Reliance Industries has regained the top slot among Indian energy companies on the Platts global list by surpassing state-owned Oil and Natural Gas Corp (ONGC) in the rankings for this year.

In all, 14 Indian energy companies made it to the 2015 Platts Top 250 Global Energy Company Rankings, a financial performance roster of publicly traded companies with assets greater than USD 5 billion.

Reliance Industries today became the first corporate to sign the revised listing agreement with the BSE as mandated under the newly introduced Listing Regulation notified by SEBI.

Earlier, the listing agreement was a bilateral agreement between the stock exchange and the company and market regulatory SEBI didn't have regulations on this. Thus each company's agreement with stock exchange could be at variance and lacking the full force of SEBI's rigour.

Boosted by a rally in stocks, the total market valuation of listed companies at the BSE regained the Rs 100 lakh-crore mark on Monday. The total market capitalisation (m-cap) of BSE-listed companies stood at Rs 1,00,36,165 crore at the end of trade on Monday. Investor wealth of BSE-listed firms, measured by market capitalisation, had crashed below Rs 100 lakh crore on August 24, when the Sensex plunged by 1,624.51 points. The benchmark BSE Sensex on Monday soared 150.32 points to settle at 27,364.92, continuing its winning spree for the third straight session. The index has now gained over 585 points in the past three sessions.

"Markets started the week on a positive note on the back of strong quarterly corporate earnings, mainly led by index heavyweight Reliance Industries," said Gaurav Jain, Director, Hem Securities.

In the last few years, litigation between India's largest company, Reliance Industries, and the Indian government and public sector companies has increased, putting at risk investments worth billions of dollars on all sides.

RIL - which seldom took on the government in the past - is doing just that over gas pricing. The government has accused RIL of gold plating its expenditure over Krishna Godavari gas extraction, thereby reducing the government's share of profits.

Benchmark shares indices rebounded in last two trading sessions, amid a rallly in global stocks, to end higher for the third straight week on expectations that the US Federal Reserve won't raise interest rates soon. Banks which are a proxy to the economy led the gains amid strong August IIP data while auto stocks rallied on hopes of higher demand in the festive season even as IT majors declined post their earnings announcement.

In the week to October 16, the 30-share Sensex ended up 0.5% at 27,215 and the 50-share Nifty ended up 0.6% at 8,238.

State-owned Oil and Natural Gas Corporation (ONGC) will have no claims to make for natural gas migrating from its block to neighbouring contiguous fields of Reliance Industries in Bay of Bengal after all expenses are accounted for, the private firm said on Friday.

In a communication to employees, RIL said it has “scrupulously followed every aspect of the production sharing contract and has confined its petroleum operations within the (boundaries of its) KG-D6 Block” in the Krishna-Godavari basin.

NEW DELHI: Shares of Reliance Industries rose over 1 per cent in morning trade on Friday ahead of its September quarter earnings, which will be announced post market hours today.

The oil & gas major is expected to report 3.2 per cent year-on-year (YoY) growth in net profit at Rs 5,926 crore for the quarter compared with Rs 5,742 crore reported for the year-ago quarter, said an ET Now Poll.

Private explorer Reliance Industries Ltd (RIL) extracted at least 9 billion cubic metres (BCM) of gas from government-owned explorer ONGC’s block in the Krishna Godavari (KG) basin block off the Andhra Pradesh coast, according to a draft report submitted by US-based international consultant DeGolyer and MacNaughton (D&M).

This means, at an average gas price of $4.2/mBtu and exchange rate of Rs 60 against a dollar, RIL drilled gas costing Rs Rs 8000-9000 crore that belonged to ONGC, say two analysts.

Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) might have to amicably settle their dispute with regard to gas flow in the Krishna-Godavari basin to prevent a long-drawn legal battle. However, a government official claimed the stage for negotiations is long over.

A draft consultant report prepared by DeGolyer and MacNaughton (D&M), jointly appointed by the firms in July 2014 for a technical evaluation, is likely to establish that the two share a gas reservoir. The firms hold adjoining blocks.

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