Reliance industries Ltd (RIL), the huge conglomerate run by Indian business tycoon Mukesh Ambani, has quit the shale gas business in the United States, Business Standard reported on Monday.
Reliance Eagleford Upstream Holding, a wholly owned step-down subsidiary of RIL, signed agreements with Ensign Operating III, a US-based firm, to divest its interest in certain upstream assets in the Eagleford shale play, the company said in the report.
Reliance did not disclose the price at which the transaction was closed.
Read the full report: Business Standard
ALSO READ:
India’s Reliance Sets Up Subsidiary in United Arab Emirates for Trading Oil
Reliance Industries Bidding For ChemChina’s Solar Unit: ET
Reliance uses Aramco link to sign big petrochemical deal in Abu Dhabi
