Reliance - Growth is life at FinGad.com

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Categorie: Emerging Markets
Submitted 10 months ago by

Prakash , Senior Research Analyst

Reliance Industries LimitedIndustryThe Exploration and Production (E&P) industry witnessed yet another great year, driven largely by high commodity prices and robust oil and gas demand. Global demand for oil grew by 0.8% from 83.1 million barrels per day in 2005 to 83.8 million barrels per day in 2006.IPE Brent prices averaged 10% higher at US$ 65 per barrel during FY 2006-07 as against an average price of US$ 59 per barrel in FY 2005-06. Natural gas prices in Asia and Europe which are predominantly linked to crude remained volatile and Henry hub natural gas prices averaged US$ 8 / MMBTU for 2006. Experts forecast gas prices to stay above historical levels in the near future.IPE Brent prices averaged 10% higher at US$ 65 per barrel during FY 2006-07 as against an average price of US$ 59 per barrel in FY 2005-06. Natural gas prices in Asia and Europe which are predominantly linked to crude remained volatile and Henry hub natural gas prices averaged US$ 8 / MMBTU for 2006. Experts forecast gas prices to stay above historical levels in the near future.<spa... More...

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