Gas dispute: Reliance Industries slips to sixth on list of most actively traded stocks

May 01 2014, 21:05 IST
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Reliance Industries turnover had declined to Rs 75,817.60 cr in CY13 from Rs 78,246.75 cr in CY12. PTI Reliance Industries turnover had declined to Rs 75,817.60 cr in CY13 from Rs 78,246.75 cr in CY12. PTI
SummaryReliance Industries turnover had declined to Rs 75,817.60 cr in CY13 from Rs 78,246.75 cr in CY12.

& gas analyst, Quant Broking.

The oil ministry and RIL are locked in a dispute over recovery of cost for developing the country's key natural gas field in the KG basin. Reliance blames geological factors for the lower gas output while the ministry has sought to penalise the company for the same.

Units D1 and D3, which started production from Q1 FY10, are the two most prolific fields in the D6 block, which were together expected to produce 80 mmscmd by the first quarter of FY12. In the first quarter of operations, the output averaged 19 mmscmd against a target of 20 mmscmd.

While the two fields were not able to meet the targets for each quarter, RIL kept on increasing its production consistently till the fourth quarter of 2010 when it produced 59 mmscmd of gas, which coincided with its target for the same quarter.

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