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Thursday, February 28, 2008

Reliance Industries Rises on East Coast Natural Gas Discovery

Reliance Industries Ltd., owner of the world's third-biggest oil refinery, gained after saying it discovered natural gas in a field off India's east coast.

The Mumbai-based company said yesterday the discovery was made in the shallow-water area of NEC-Mahanadi field, off the eastern Indian state of Orissa.

Reliance Industries owns 90 percent in the area and Canada's Niko Resources Ltd. holds 10 percent, according to a statement. This is the eighth gas discovery in the field, the company said

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Saturday, Jun 14
01:00 CFTC S&P 500 NC Net Positions 1 $-69.4K
01:00 CFTC Oil NC Net Positions 1 168K
01:00 CFTC Gold NC Net Positions 1 $187.9K
01:00 CFTC GBP NC Net Positions 1 £35.2K
01:00 CFTC AUD NC Net Positions 1 $-63.2K
Monday, Jun 16
04:00 Business NZ PSI 2 48.5
04:31 Rightmove House Price Index (YoY) 1 1.2%
04:31 Rightmove House Price Index (MoM) 1 0.6%
12:00 Producer and Import Prices (YoY) 1 -0.5%
12:00 Producer and Import Prices (MoM) 1 0.1%
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