Reliance Industries Ltd. is all set to start fuel exports from this month. The company has commissioned its new refinery worth $6 billion at special economic zone (SEZ) at Jamnagar in Gujarat for the same.
On announcing the beginning of fuel export, Reliance Industries President (Refinery Business) P. Raghavendran said, “All our processing units at the new refinery will be ready in the next few days; we will then start exporting fuel.”
Reliance started an export-only refinery in December with a refining capacity of 5.8 Lakh barrels a day. From this refinery, the company sells gasoline, gas oil, and jet fuel to U.S., European, and African markets.
The parent refinery at Jamnagar with a refining capacity of 6.6 Lakh barrels a day has now becomes the world’s largest refining hub. The establishment of this refinery has been successfully completed in 36 months.
According to Mr. Raghavendran, Reliance is looking out for more opportunities and potentials to set up new refineries worldwide. He added, “We want to set up greenfield refinery projects and also take up expansion of existing refineries globally.”
With high expectations, the company desires to convert the least expensive crude oil into a high-value market product, eventually preparing itself to survive in the highly competitive refining business.