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    • OVL posts 57% drop in net profit at Rs 1,904 cr in FY15

      The company's net profit in the previous fiscal stood at Rs 4,445 crore, the company said in a statement. The revenue fell by 14.63 per cent to Rs 18,491 crore. OVL produced 5.53 million tonnes of crude oil in 2014-15, marginally higher than 5.48 million tonnes a year ago. Gas output was 16.37 per cent higher at 3.34 billion cubic meters.

    • Govt gets over Rs 35Kcr from Cairn's Raj oil block in 5 yrs

      Cairn began production from Mangala oilfield, India's largest onshore oilfield, on August 29, 2009 and has been producing continuously for five years now.

    • ONGC eastern offshore gas output seen at 2mmscmd by Sept

      Ashok Varma, Executive Director (Asset Manager) Eastern Offshore Asset, said the oil and gas major has chalked out a programme to take up drilling of 40 to 45 wells by 2019.

    • Oil minister Moily sees gas output rising by 2016-17

      India last month took the unpopular step of approving a gas price rise for the first time in three years, a move which could inject much needed investment in local production.

    • Reliance Industries will invest $5 bn in KG block

      Reliance Industries Chairman Mukesh Ambani said "We will invest over USD 5 billion in a series of projects to reverse the trend." The gas output from KG-D6 fields has dipped to an all-time low of 16 mmscmd from 64 mmscmd achieved three years ago.

    • Find if profit motive caused dip in RIL's KG-D6 gas: Govt

      With output from Reliance Industries' eastern offshore KG-D6 fields dropping to an all-time low, a Parliamentary panel today asked the Oil Ministry to find out if the decline was due to commercial consideration or price of gas.

    • RIL Q4 net up 32% on robust refining margins, sales slide

      Reliance Industries (RIL) has reported 31.9 percent year-on-year jump in March quarter profit to Rs 5589 crore, boosted by an improvement in gross refining margins (GRMs), which is partly offset by lower gas output from its flagship KG-D6 basin.

    • BP focusing on 'Next Wave' strategy to boost KG-D6 output

      With gas output from Reliance Industries' showpiece KG-D6 fields dropping by 23%, the firm's new partner BP Plc has expressed confidence that the slump in production can be reversed by focusing on a 'Next Wave' strategy of developing satellite fields.

    • RIL gas output to touch 67 mmscmd; to add 22 wells by April

      The Directorate General of Hydrocarbon (DGH) says that RIL’s gas output may touch 67 mmscmd by April this year. The DGH also adds that RIL will have 22 gas producing wells in April versus 18 which they currently have.

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