India’s Reliance Industries says it is successful in refining despite crude price collapse
India’s Reliance Industries has had success in its refining activities despite a volatile environment where crude oil prices have collapsed, the company’s top official said in late April.
“FY 2014-15 has been a very successful and important year for Reliance.
In a time when the collapse of crude oil prices unsettled the hydrocarbons markets, our refining business delivered record earnings,” said Mukesh Ambani.
With decrease in oil and product prices, exports from India were lower by 17.1% at ` 228,651 crore ($ 36.6 billion) as against ` 275,825 crore in the previous year, the company said.
Strong operating performance from the refining business led to higher operating profit, the company said.
