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RIL's upstream business to drain cash from refining, petrochemical: Moody's
Reliance Industries Ltd (RIL) upstream business will drain cash from the rest of the business from fiscal 2018 until production begins from the three gas fields where RIL and BP announced fresh investments, says Moody's investor service. This adds further drag on RIL's refining and petrochemical businesses which are already supporting the company's Rs3 trillion capex program over last four years in its energy and telecom businesses.
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