Reliance Indus to begin exports from new refinery
India’s Reliance Industries Ltd. will start exporting products from its new 580,000 barrel-a-day refinery in western India, raising supplies in a surplus international market. Reliance has been looking at the U.S. market for gasoline exports from its new refinery and the European market for diesel. It has already set up trading desks in oil trading hubs like Singapore and London to market its products and has been planning to open one in Houston, Texas. The new refinery, along with Reliance’s neighboring 660,000-barrel-a-day refinery, will form the world’s largest refining complex in Jamnagar in western India with a capacity of 1.24 million barrels a day. (January 15, 2009)