Coal News We love to talk!
Reliance Industries, owner of the world's biggest refining complex, imported about 1.1 per cent more oil in January compared with the previous month and resumed purchases from Iraq after a gap of four months, tanker arrival data made available to Reuters showed.
Reliance, which has a diversified crude slate and shifts purchases to maximise revenue, bought about 21.8 per cent more oil last month compared with a year earlier when it had cut runs at its older plants.
The refiner also stepped up shipments last month to build its inventory, taking advantage of falling oil prices, traders said.
It raised purchases from Latin America in January to about 49.5 percent from about 46 percent a year earlier, while that from the Middle East fell to 36.5 per cent from about 38 per cent, the data showed.
African grades accounted for about 14 per cent of the refiner's crude purchase in January compared with about 9 per cent a year earlier.
Reliance's two advanced refineries in Gujarat state in western India can together process 1.2 million bpd of oil, or about 28 per cent of the country's overall capacity.
- ONGC hires consultant to assess reserves in GSPC KG gas block Read more
- India's annual diesel consumption set to rise by two-thirds by 2030 Read more
- Mumbai Port Trust to set up Rs 4,000-cr LNG terminal Read more
- OVL restructures in bid to realize ambitions Read more
- Budget 2016: New gas price policy will attract investments Read more
- CERC approves transmission tariff for JPLs Karcham Wangtoo HEP evacuation system Read more
- No change in gas pricing formula; rates below output cost Read more
- Permanent at ONGC after 25 years of service Read more
- Lanka power link project hits hurdles Read more
- Indo-Bangla power project faces environmentalists ire Read more