Not withstanding the rising global crude oil, which are currently hovering around $135, Reliance Industries Ltd (RIL) will start selling natural gas this year at $25.20 a barrel of crude oil equivalent.
The price implies potential savings of about Rs 85,000 crore for Indian consumers, said Mukesh Ambani, chairman and managing director, RIL, at the 34th annual general meeting of the company.
The price implies potential savings of about Rs 85,000 crore for Indian consumers, said Mukesh Ambani, chairman and managing director, RIL, at the 34th annual general meeting of the company.
RIL would commission a new petroleum refinery in Jamnagar in the second half of this fiscal.This 580,000-barrel-a-day refinery is being built adjacent to a 660,000barrel-a-day plant owned by the company.RIL was investing $5.2 billion to develop the Krishna-Godavari basin, adding that piping the gas from the area, which is off the eastern coast, would cut $27 billion from India's import bill.
Ambani also said Reliance is poised to become a leading global energy giant. The company is also considering alternative energy as a potential avenue for growth and transformation.Reliance Industries currently has a global gross reserve and contingent resource base of 5 billion barrels of oil equivalent, positioning it among the top 15 upstream companies in the world. The company is firmly on track towards an ambitious resource accretion target of 10 billion barrels of oil equivalent.
Ambani also said Reliance is poised to become a leading global energy giant. The company is also considering alternative energy as a potential avenue for growth and transformation.Reliance Industries currently has a global gross reserve and contingent resource base of 5 billion barrels of oil equivalent, positioning it among the top 15 upstream companies in the world. The company is firmly on track towards an ambitious resource accretion target of 10 billion barrels of oil equivalent.
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