Reliance oil and gas projects might be delayed

November 10, 2008 · Filed Under Reliance Industries · Comment 


Reliance Industries (RIL), India’s biggest company by market value, is unlikely to meet its previously-announced commissioning schedules for two key oil and gas projects, as depressed global fuel demand, the financial market turmoil and legal challenges to its plans force it to push back deadlines, company officials with knowledge of its plans say.
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New RPL refinery set for world record

June 11, 2008 · Filed Under Reliance Petroleum · Comment 

The supply from RPL’s new refinery will represent almost 50% of the estimated global oil demand growth in 2009 and should increase global production capacity of both gasoline and diesel by around 1%.

Reliance Petroleum Ltd (RPL) chairman Mukesh Ambani, while addressing the company’s third AGM at Jamnagar in Gujarat, said the RPL refinery would have the ability to process heavy and sour crude and would also produce value-added products that meet the quality specifications across the globe.

Ambani said his team was set to create a world record by constructing the new refinery at Jamnagar in less than 36 months. The company is constructing an export-oriented 29 million tonne refinery adjacent to RIL’s existing 33-mt refinery at Jamnagar.

“This project will be the world’s sixth largest refinery. With the existing RIL refinery at Jamnagar, it will have a total processing capacity of 1.24 million barrels per day,” he said.

In view of these advantages, RPL will be very well positioned to enhance shareholder value, according to Ambani. “This will hugely augment India’s export position and earn valuable foreign exchange for the country. This will also strengthen India’s position as one of the premier countries for quality fuel products,” he added.

Source: financialexpress.com

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Reliance Petro refinery set to go on stream before Dec

June 11, 2008 · Filed Under Reliance Petroleum · Comment 

Reliance Petroleum Ltd’s Rs 27,000-crore refinery project in Jamnagar, which will be the world’s sixth largest, is set to go on stream before the December 2008 scheduled date for completion.

“I am happy to announce that the refinery will also start generating revenues from this year itself,” Mr Mukesh Ambani, RPL’s Chairman, told the third AGM of the company at Jamnagar on Saturday.

Along with the existing refinery at Jamnagar, the entire refinery complex will have a total processing capacity of 1.24 million barrels a day. “The supply from RPL’s new refinery will represent almost 50 per cent of the estimated global oil demand growth in 2009. And it should increase global production capacity of both gasoline and diesel by around one per cent,” Mr Ambani said.

The RPL refinery project, which was flagged off in December 2005, is being set up in an SEZ and will be an export-oriented unit. With Asia expected to contribute 60-70 per cent of incremental demand, the refinery will focus on these markets to export its products.

“The most important market for gasoline will be the US, Africa and West Asia. Increasing prices of crude and products across the globe have become one of the key issues facing the world today. However, the demand for petroleum products continues to grow despite high oil prices. Therefore, the long-term outlook for refining margins continues to be positive, especially for complex refiners like RPL,” according to Mr Ambani.

The RPL refinery will have the ability to process heavy and sour crude, apart from producing value added products.

He claimed that the refinery will be one of the complex refineries in the world with a Nelson Complexity Index of 14.0.

Source: thehindubusinessline.com

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A Chakraborty positive on Reliance, RPL

May 12, 2008 · Filed Under Reliance Power · Comment 

A Chakraborty positive on Reliance, RPL
Moneycontrol.com - Mumbai,India
Chakraborty told CNBC-TV18, “We have covering on the oil marketing companies including Reliance. Friday we have seen that purely based on apprehension and …

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Reliance, RPL down sharply on fears of Govt control

May 12, 2008 · Filed Under Reliance Industries · Comment 

Reliance, RPL down sharply on fears of Govt control
Hindu Business Line - Chennai,India
The stock of Reliance Industries has tumbled 5.19 per cent to Rs 2527.65 on the BSE on Friday. Trading volumes also jumped to 10.39-lakh shares against its …

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Reliance Petroleum Valuation

May 8, 2008 · Filed Under Reliance Petroleum · Comment 

Reliance Petroleum Valuation
By Hiteshbhai(CROW)
Reliance Petroleum, RPL, entered into the capital market on April 13 with a public issue of 135 crore equity shares of Rs 10 each for cash at a premium to be decided through 100% book building route. Reliance petroleum will start its …

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