Reliance Industries Ltd., controlled by India’s richest man, is optimistic for the first time in three years about reversing a slide in gas output after the government began approving its expansion plans.
Reliance Industries Ltd., operator of the world’s largest oil refining complex, headed for its biggest gain in eight months after discovering a new natural gas deposit in its biggest block off India’s east coast.
A tropical cyclone in the Bay of Bengal heading toward India’s east coast may stall the progress of the monsoon, which accounts for four-fifths of the nation’s annual rainfall, a weather bureau official said today.
Reliance Industries Ltd., battling to reverse a two-year slump in natural gas production, is spending about $1 million a day with partner BP Plc to look for new reserves more than a mile below its biggest field, said a person with direct knowledge of the matter.
Tropical cyclone Laila churned across the Bay of Bengal, the site of India’s biggest natural gas field, and was forecast to reach hurricane strength before making landfall late on May 20 in Andhra Pradesh on the east coast.
Tropical Cyclone 5B strengthened over the Bay of Bengal and was heading toward India’s east coast, where it’s forecast to reach hurricane strength before making landfall near Chennai within three days.
Japan and India, Asia’s biggest energy consumers after China, are closer to unlocking natural gas deposits trapped in ice below the seabed that may prove bigger than the world’s known fossil-fuel reserves.
Reliance Industries Ltd. , the operator of India’s biggest natural gas field, stopped crude oil output in the Bay of Bengal as tropical cyclone Laila strengthened, said a person with direct knowledge of the matter.