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RIL announces 7th oil discovery

MUMBAI: Reliance Industries Ltd (RIL) today announced its seventh oil discovery in exploration block CB-ONN-2003/1 (CB 10 A&B) in Cambay basin, about 130 km from Ahmedabad.A RIL release here said the well flowed at the rate of 410 barrels of oil per day
(BOPD).

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Air India turnaround plan reviewed

MUMBAI: Air India’s five-year turnaround plan for financial revival of the ailing national carrier was today reviewed at its Board meeting in the presence of Civil Aviation Minister Praful Patel.

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Govt to release more wheat in open market to check prices

NEW DELHI: The government today decided to release five million tonnes of wheat in the open market and retain zero duty on sugar and wheat imports in the wake of soaring food prices. The empowered group of ministers (EGOM), headed by Finance Minister Pranab Mukherjee, decided to offload wheat under the Open Market Sale Scheme (OMSS) at prices lower than the market price.

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RIL, RNRL reach revised gas supply pact

MUMBAI: Mukesh Ambani-run Reliance Industries and his younger brother Anil-led RNRL today signed a revised gas supply agreement, a development that paves the way for government to allocate gas to Anil Ambani group’s power plants.

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