The shares of Reliance Industries fell Rs 40 or 4% to Rs 990 on Friday after the petroleum major told the oil regulator that gas production from its KG Basin block could be lower than earlier estimates, according to a report on indianpetro.com. The website is a news, information and market intelligence provider in the Indian oil & gas, power and fertilizer sectors.
Reliance is said to have responded to the points raised by the regulator regarding the expansion of production capacity and operational efficiency at the KG Basin block.
Meanwhile, RIL issued a notice to BSE in the late afternoon saying that the company is discussing, consultating and corresponding with the Director General of Hydrocarbons in respect of regulatory compliance, technical reviews and finalisation of work program and budgets for the future years.
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