Ratnagiri Gas & Power, originally called Dabhol Power contemplates to ink a pact with Reliance Industries in this week to buy 2.5 mmscmd of gas per day for a 5 year period.

Reliance Industries presently trades at Rs.1,758.55, which is higher by 21.80 points from its last close of Rs.1,736.75 on the Sensex.

Reliance Industries has inked a Gas Sale and Purchase Agreement with 9 firms from power sector in regards to natural gas from KG basin’s D-6 block.

Reliance Industries presently trades at Rs.1741.90, which is lower by 20.45 points from its last close of Rs.1762.35 on the Sensex.

Reliance Industries is likely to state a 2nd successive fall in periodical earnings as the worldwide financial crisis diminished demand and contracted refining Reliance, worth $54 billion, should illustrate noteworthy increase in near quarters from gas sales it began registering this month from its deep-sea field of nation’s eastern coast.

Of late, Reliance Industries has transformed its Jamnagar plant from an export oriented unit to a standard plant, which is likely to assist the company in selling its production in Indian as well as global markets.

Post noon trades have given impetus to the markets by all round buying.

Presently, Reliance Industries gears up to revive its system of petrol stations, post its Jamnagar refinery stops to be Export Oriented Units and falling international crude oil costs has made it viable opposed to the subsidy led oil marketing companies.

Oil and Natural Gas Corporation, Indian Oil Corporation and Reliance Industries, the country’s leading firms are coming together to propose for growing a huge oilfield in Venezuela at a price of $16-18 billion.

Reliance Industries is ready to begin gas supply from its productive fields in the KG basin blocks to its first consumer, Nagarjuna Fertiliser on Thursday.