Oil Prouction in KG Basin has started
The Chairman and Managing Director of Reliance Industries LTD Mukesh Ambani has announced in Mumbai that oil production in D-6 Block of Krishan and Godavari Basin has stared from 17th September 2008. He told that plant is producing 5,000 barrel per day. It will be increase more then 550 thousand barrel oil per day in one and half year.
Goldman Sachs Profit falls 70 percent: stock market is going to crash again
Goldman Sachs has reported a 70% drop in third quarter profits to $845m (£475m), down from $2.85bn in the same three-month period a year ago.
In its trading and principal investments division, the bank’s revenue plunged by 67% to $2.7bn. Goldman revealed that it made a $500m loss on residential mortgage-related securities and a $325m loss on commercial mortgages. Its principal investments operation made a $453m loss, largely due to corporate and property investments. Read more