RPT-PREVIEW-Margin squeeze to hit Reliance; ONGC profit to rise - Reuters

By
Viraj
on April 24, 2009 6:12 AM | | TrackBacks (0)
MUMBAI, April 22 (Reuters) - India's largest energy group,Reliance Industries Ltd ( RELI.BO ), is expected to report asecond consecutive drop in quarterly profit as the globaleconomic crisis squeezed demand and shrank refining margins.

Manufacturer of diesel tanks India.

Reliance, valued at $54 billion, should show significantgrowth in coming quarters from gas sales it started pumpingthis month from its deep-sea field off India's east coast. By the year-end gas output from the Krishna-Godavari Basinis expected to reach a peak production of 80 million standardcubic metres a day -- a level the upstream regulator has saidcan be sustained for six years. [ID:nDEL327402] [ID:nDEL459719] "The major value driver going ahead for Reliance is the E&P(exploration and production) business," said Deepak Pareek, ananalyst at Angel Broking, adding the gas sales from the Bay ofBengal field would boost revenue and earnings.

Full Story: RPT-PREVIEW-Margin squeeze to hit Reliance; ONGC profit to rise - Reuters

0 TrackBacks

Listed below are links to blogs that reference this entry: RPT-PREVIEW-Margin squeeze to hit Reliance; ONGC profit to rise - Reuters.

TrackBack URL for this entry: http://www.auto-fueltanks.com/cgi-bin/mt/mt-tb.cgi/5820

Search

About this Entry

This page contains a single entry by Viraj published on April 24, 2009 6:12 AM.

rnrl's net profit up 4.32 per cent at Rs 71.54 cr in FY 09 - Hindu was the previous entry in this blog.

Woodside Q1 output rises, cuts '09 spending f'cast - Reuters India is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.