Reliance to commission new energy giga complex this year
"On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors.
"On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors.
In October 2021, a unit of Reliance acquired Norway's solar panel manufacturer at an enterprise value of USD 771 million as the Indian oil-to-retail conglomerate sought to extend its dominance into alternative energy.
This year, the application process has been taken online for the first time. Registration for the programme has started from January 11 and will remain open till January 19, the firm said on its website.
Reliance had in July last year invested about Rs 378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based realty estate investment trust Digital Realty were already partners. The three own 33 per cent each in the venture.
The group denied all allegations and reworked its strategy, fueling a comeback that now has the tycoon some USD 36 billion short of where he started the year and two notch and USD 12 billion shy of rival billionaire Mukesh Ambani.
The default payment currency for all contracts for import of crude oil is US dollar as per the international trade practice. However, in a bid to internationalise the Indian currency, the Reserve Bank of India on July 11, 2022 allowed importers to pay with rupees and exporters be paid in rupee.
Moody's has also maintained a stable outlook owing to the expectation that the company's earnings will continue to grow across most of its business segments, such that consolidated credit metrics will remain solidly positioned for its ratings over the next 12-18 months.
State-owned Bharat Petroleum Corp. is in the market to buy from the producer, according to a person familiar with the development. Hindustan Mittal Energy Ltd., a smaller state-owned processor, is already buying Venezuelan oil, another person with the direct knowledge of the matter said.
Private refiner Reliance Industries Ltd has booked two supertankers, C. Earnest and C. Genuine, which are scheduled to load crude cargoes from Venezuela between December to early January.
City gas companies including Torrent Gas and Gujarat Gas secured a total of 2.21 mmscmd of gas for turning into CNG for sale to automobiles and piped to household kitchens for cooking purposes, two sources with direct knowledge of the matter said.
Oil and Natural Gas Corporation (ONGC) has signed deals to sell about 4.5 million tonne of crude oil each to Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).