Relying on more gas

With RIL chairman Mukesh Ambani reiterating his firm’s commitment to a R1.5 lakh crore capex over the next 3 years, that’s good news for both an investment-starved nation as well as for RIL’s shareholders who want to know what their company plans to do with the huge cash it generates. The better news is Ambani’s statement that RIL has had some luck in its new discoveries off the eastern coast—he has said success at the MJ1 well in the KG-D6 block could add meaningfully to the company’s resource base.

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