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This is an archive article published on March 20, 2012

RIL shares down 2.21%

Reliance Industries shares ended trade 2.21 per cent down at Rs 754.90 a piece on the Bombay Stock Exchange after reports showed output

Reliance Industries (RIL) shares ended Monday’s trade 2.21 per cent down at Rs 754.90 a piece on the Bombay Stock Exchange after reports showed output from its KG-D6 block has hit an all-time low production as the firm shut six wells due to water and sand ingress.

India’s most valuable company,which invested roughly $5.6 billion,had started pumping out 30 mmscmd of gas from Dhirubhai-1 and 3 gas fields from April 2009,but output declined over the years to 28.16 mmscmd gas,news agencies quoting RIL status report to the oil ministry said.”Our partner BP… is conducting a technical study,” said a company official. “The study will be completed in a couple of quarters.”

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