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Reliance to supply 40% of India's gas, oil!

September 22, 2008

Indian petrochemicals giant Reliance Industries Ltd will account for about 40 per cent of the country's energy production in the next 18 to 24 months, putting the company on track to earn a quarter of its profit from oil and gas production, from 5 per cent now.

The total hydrocarbon output from the Dhirubhai 6 (D6) block in the Krishna-Godavari basin, the field that is expected to more than double India's gas output, will rise to 550,000 barrels of oil equivalent a day (boed) by March 2010, RIL chairman and managing director Mukesh Ambani said in his first media meet in five years.

Text: Business Standard

Image: Reliance Industries chairman Mukesh Ambani, with wife Nita, shows the jars of crude oil from the Krishna Godavari basin, during a press conference in Navi Mumbai on September 21. | PTI Photograph

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