Reliance Industries Ltd.

Reliance industries (RIL) has registered a fall of 30.9% in its revenue from its oil and gas segment to Rs 5,191 crore in 2016-17, compared to Rs 7,514 crore during the same period in 2015-16, owing to lower upstream production and lower domestic gas price realisation. However, the company reported a growth of 6.8% in refining and marketing segment.

For the year, domestic production (RIL share) was at 95 billion cubic feet (Bcf), down 23% compared to last year and production (RIL Share) in US Shale business was 162.5 Bcfe, down 20% on a year-on-year basis.

For the fourth quarter of 2016-17, revenues for the oil and gas segment decreased by 19.9% to Rs 1,309 crore, compared to Rs 1,634 crore during the same time last year. Continuing weak price environment in the domestic market and declining production trend impacted segment revenues. KG-D6 field produced 0.28 million barrels of crude oil and 23.4 BCF of natural gas in fourth quarter of FY17, a reduction of 15% and 25% respectively on a year-on-year basis.

For the financial year 2016-17, revenue from the refining and marketing segment increased by 6.8% year-on-year to Rs 2,50,833 crore, compared to Rs 2,34,945 crore during the same time last fiscal.