Sep 11, 2012, 07.54 PM IST | Source: CNBC-TV18

RIL to exit almost all overseas oil & gas blocks: Sources

Reliance Industries (RIL) is keen to change its international business strategy. And the company believes, it can do so by exiting almost all its overseas oil and gas blocks, say sources.

Reliance Industries (RIL) is keen to change its international business strategy. And the company believes, it can do so by exiting almost all its overseas oil and gas blocks, say sources.

The energy giant which has around seven exploration assets abroad want to retain hardly one or two as it does not want to overstretch itself over  geographies. The company also feels it is heavily exposed to exploration abroad. Also, overseas blocks need a lot of exploration to start production.

Of the seven blocks, the company has, two each in Peru, Yemen, Columbia and one in Australia . The company has acreages in areas which fall in 'no-contact' region, which would make exploration activities difficult add sources.

Reliance stock price

On April 17, 2014, Reliance Industries closed at Rs 958.75, up Rs 17.70, or 1.88 percent. The 52-week high of the share was Rs 972.90 and the 52-week low was Rs 765.00.


The company's trailing 12-month (TTM) EPS was at Rs 67.89 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 14.12. The latest book value of the company is Rs 556.90 per share. At current value, the price-to-book value of the company is 1.72.

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