Chart of the day: It’s not just RIL that is suffering from low gas output

Riken Mehta
Moneycontrol.com


Falling output at Reliance ‘s KGD6 is causing grief to power companies as well, as it comes at a time when there is a shortage of coal as well. Over the last three years, the movement in the benchmark BSE Power index has shadowed that of the RIL stock. And there could be more bad news in store. Niko Resources, RIL’s partner in the KG basin on Thursday slashed proven and probable gas reserve estimate by 78.5% to 1.93 trillion cubic feet from around 9 tcf earlier.


See the chart below. RIL’s average KGD6 Gas output in each quarter from Q1FY10 to Q4FY12. Chart: BSE Power Index, RIL share price vis-a-vis KGD6 Gas output

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