Arab Today, arab today reliance needs ships to increase gas
Last Updated : GMT 00:13:22
Arab Today, arab today
Arab Today, arab today

Reliance needs ships to increase gas

Arab Today, arab today

Arab Today, arab today Reliance needs ships to increase gas

Mumbai - Arabstoday

Reliance Industries may lift natural gas output at India\'s biggest deposit after two years as it awaits ships that will connect deepwater wells drilled this year to pipelines, a person with knowledge of the matter said. The ships are booked and may become available for use at the KG-D6 block in 2013, the person said, asking not to be identified because he isn\'t allowed to speak to the media. The Mumbai-based explorer plans to drill 11 wells this year to raise output at the KG-D6 block, the person said. Reliance, India\'s biggest company by market value, may win government approval this week to sell stakes in oil and gas blocks to BP and benefit from the London-based company\'s technology and expertise in drilling and production in offshore areas. Reliance\'s profit grew at the slowest pace in six quarters in the three months ended March 31 after production from KG-D6 declined because of technical difficulties. \"Two years of below-capacity production is a worry,\" said Alok Deshpande, a Mumbai-based analyst at Elara Securities, who has an \"accumulate\" rating on Reliance. \"Exploration and production was the major attraction for investors. That trigger is missing now.\" Manoj Warrier, a spokesman for Reliance, didn\'t answer two calls to his mobile phone seeking comment. Reliance currently produces about 48 million cubic metres of gas a day from the D1, D3 and MA areas of the block, located off India\'s east coast, from about 60 million cubic metres a year earlier, the person said. The company last month submitted a plan to drill three wells in the block and has a commitment to dig eight more in the year ending March 31, the person said. Reliance declined 1.8 per cent to Rs854.85 at the close of trading in Mumbai. The stock has fallen 19 per cent this year compared with an 8.1 per cent decrease in the benchmark Sensitive Index. Morgan Stanley cut the stock to \"equal-weight\" from \"overweight\" and lowered the price target by 20 per cent to Rs956 because of the absence of any positive triggers in the short term, according to its report. The bank cut its KG-D6 output forecast to 47 million cubic metres a day from 50 million. Reliance sells gas to power plants and fertilizer units at $4.2 per million British thermal units, a price set by the government and scheduled for revision in April 2014. From / Gulf News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today reliance needs ships to increase gas Arab Today, arab today reliance needs ships to increase gas

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday