New Delhi, Apr 2: Reliance India Ltd. (RIL) achieved a landmark in the history of oil and gas production when its deep-sea Krishna Godavari basin fields flowed to the surface on Thursday.
Unlike the practice around the world of a minimum nine years, the RIL just took seven years from the date of discovery to begin gas production from the deep-sea KG-D6 block.
According to Petroleum Secretary R S Pandey, India will save USD nine billion in oil import bill annually with the beginning of production from Reliance Industries'' eastern offshore KG D-6 fields.
In its profit after tax (PAT) statement reported Thursday, the state-managed Bharat Heavy Electricals Ltd (BHEL) said that in the financial year that ended March 31, 2009, the company's year-on-year PAT figures showed an increase of 6.9 percent.
Vienna - The price for oil produced by the Organ
Berlin - Chancellor Angela Merkel on Tuesday offered Germany's good offices to help resolve a new gas dispute which has surfaced between Russia, the European Union and Ukraine.
French nuclear giant Areva announced plans on March 30 to expand its India operations. The company will start operations this week at eight new factories in India.
Vienna - Austria's leading oil and gas group OMV AG announced Monday it has ended its involvement with Hungarian counterpart MOL plc by selling its 21.2-per-cent stake to the Russian company Surgutneftegas OJSC.
