BP pays $1 billion for 49% stake in fuel retail JV with Reliance Industries
Reliance BP Mobility ltd (RBML), the joint venture in which RIL holds 51%, will operate under the Jio-BP brand and leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform, according to a statement by the two companies.
BP to invest USD 70 million in India's Green Growth Equity Fund
GGEF already includes investments from the Government of India, through the National Investment and Infrastructure Fund (NIIF), and the UK government, through the Department for International Development (DFID).
Reliance pushes back KG-D6 production to September/October
The company, along with its partner BP Plc of the UK, was initially targeting the start of production from the R-Series field in the Krishna Godavari block in May but pushed it back to June-end due to the lockdown. The lockdown has further pushed the start of production to mid of 2020-21 fiscal, Reliance said in its latest annual report.
BP to set up major new global business services centre in Pune
"The new center in India will assume operational ownership of third-party business processes and seek to further extend its work with analytics and data science capabilities to pursue better business outcomes," the company said in a statement.
India 2nd biggest driver of global energy consumption in 2019: BP Statistical Review
The increase in energy consumption was driven by renewables and natural gas, which together contributed three quarters of the expansion. All fuels grew at a slower rate than their 10-year averages, apart from nuclear.
CCI approves combination between BP Global Investments, Reliance BP Mobility
Subsequently, the proposed transaction would involve acquisition of an aggregate 49 per cent of the fully diluted paid-up equity share capital and voting rights in and of RBPML by BP Global, it added.
RIL, BP launch fuel and mobility joint venture
The two companies expect the venture to grow rapidly to help meet India’s fast-growing demands for energy and mobility.
ONGC likely to cut capex by 15% as pandemic delays projects
The company is now reworking its capex plans. It had raised its capex target for the current fiscal to Rs 32,500 crore from Rs 30,000 crore it spent in 2019-20.
RIL-BP Unlikely to commence KG Basin production in may
RIL says though Covid-19 has impacted normal functioning, efforts are on for timely completion
Reliance estimates USD 200-400 million liability in KG-D6 cost recovery dispute
Natural gas output from Dhirubhai-1 and 3 gas fields in the KG-D6 block in the Bay of Bengal started to lag company projections from the second year of production itself in 2010 and the field ceased to produce in February this year much ahead of its projected life.
Should you buy ONGC shares post first-ever quarterly loss?
According to Edelweiss, ONGC missed estimates by 63 per cent primarily due to a one-time impairment loss worth Rs 4,890 crore towards crude oil or gas inventory.
Contest for exploration licenses vanishing in India
In the fifth round of bidding, the latest under the Open Acreage Licensing Policy (OALP), the government received just 12 bids for 11 blocks on offer. This included 7 bids by ONGC and 4 by Oil India. For just one block, ONGC will compete with a private bidder, Invenire Petrodyne Ltd.
BP to cut 10,000 jobs worldwide amid coronavirus pandemic
Bernard Looney told employees in a global online town hall call that the London-based company will cut 10,000 jobs from the current 70,100, most of them by year end, according to sources listening to the call.
RIL's surplus inflows may be used as war chest to speed up organic, inorganic opportunities: Report
The transactions include sale of 9.99 per cent stake in the firm's digital unit Jio Platforms (JPL) to Facebook for Rs 43,573.62 crore, sale of 12.37 per cent stake in Jio Platforms to eight global investors for Rs 60,800 crore.