Reliance Industries on Friday said it has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability and Carbon Certification (ISCC)-Plus certified circular polymers. In a release, it said this innovation is a testimony to Reliance’s commitment to reducing plastic waste and supporting the circular economy in India. Reliance shipped its first … Read more
India’s Reliance Industries Limited (RIL) has reported a significant increase in profitability in its oil-to-chemical (O2C) business. This is attributed to India sourcing cheaper crude oil from Russia. Despite global uncertainties and disruptions in commodity trade flows, the company’s O2C segment posted its highest-ever operating profit. Chairman and Managing Director Mukesh Ambani noted that RIL’s … Read more
Reliance Industries Ltd announced its O2C Business segment results for the third quarter ended Dec 31, 2022. Q3 Results- QoQ The segment’s EBIDTA grew 16.36% to Rs 139.26 billion for the period ended Dec 31, 2022 as against EBIDTA of Rs 119.68 billion for the previous quarter due to weak margins. Net sales decreased 9.4% … Read more
Reliance Industries Ltd announced its O2C Business segment results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The segment’s EBIDTA dropped 39.8% to Rs 119.68 billion for the period ended Sept 30, 2022 as against EBIDTA of Rs 198.88 billion for the previous quarter due to weak margins. Net sales decreased 1.26% … Read more
Reliance Industries announced that it has signed a shareholder agreement with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) for an investment of $2 billion for the TA’ZIZ EDC & PVC project. Reliance is a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA’ZIZ … Read more
Reliance O2C Ltd., a petrochemicals segment of RIL posted its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The segment’s EBITDA grew 7.2% to Rs 12,231 crores ($1.64 billion) for the period ended June 30, 2021 as against net profit of Rs 11,407 crores ($1.53 billion) for the previous quarter. Net … Read more
Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new worldscale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. The agreement capitalizes on growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and … Read more
Mukesh Ambani, Chairman & Managing Director at Reliance Industries, on Thursday said RIL’s proposed deal with Saudi Aramco will likely be finalised this financial year. Ambani, who was speaking at the company’s 44th Annual General Meeting (AGM), said Yasir Al-Rumayyan would join the company board as an independent director. Al-Rumayyan is the chairman and governor … Read more
Reliance Industries Limited announced fall in Oil to Chemicals segment (O2C Limited) earnings for full-year 2020-21 due to lower margins and weak demand. Fourth Quarter YoY: 4Q FY20 revenue from the Oil to Chemicals segment increased by 4% Y-o-Y to Rs 1010.8 billion ($ 13.6 billion) as against Rs 967.32 billion ($ 13.03 billion) in … Read more
India’s Reliance Industries Ltd. (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a $25 billion loan from the parent company. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including any potential capital receipts,” in the … Read more
Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as … Read more