Tuesday, November 10, 2009

Reliance Industries Find Oil in Cambay basin of India

It is good news not only for Reliance Industries but also for the Indian economy. The price of the share of the company has increased with this good news. Details are still not known and the company has not in from the media about what amount of oil is there. They have found the oil in Cambay basin area. They have given the name of well as "Dhirubhai 43”. This is the 43rd time that Reliance Industries found oil in India.

It’s a good sign for the Indian economy because if the economy has to sustain high growth then the country needs a lot of fuel. In days heavily dependent on imports for oil and the government is desperately trying to find more oil and gas within the country.

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