Mr. Mukesh Ambani, Chairman & MD of RIL states that refinery in Jamnagar & gas production starts later this year & also he said that they will commence it before what they planned.
“Reliance is creating history. Two major deepwater fields are poised to come on stream with a combined capacity of about 5,50,000 barrels of oil equivalent per day. This is about 40% of India's current indigenous production. At current prices of crude oil of 135 dollars per barrel, they imply a saving of Rs 114000 cr in energy imports by India," said Mukesh Ambani, CMD, Reliance Industries.
Mukesh Ambani states that high crude prices is due to high speculation driven in the global market and he states Reliance Industries hasn't gained from it.
"Our performance stems from integrated nature of our operations. Integration is at the core of our evolution and growth. In addition, gas sales which commence this year with be at a price equivalent of $25.2 per barrel as compared to current market price of $135 per barrel of crude oil,” he added.
Reliance want to build the partnership with global companies for synergies and also to grow bigger in retail business..
“We are growing through partnerships with select world-class players like Marks & Spencer, Pearle and Vornado.These are partnerships that we have announced so far. In a larger context, Reliance Retail has forged partnerships that extend over a wider landscape, one that includes our customers and stakeholders,” he stated.
He also said that the export which have grown at 49% compunded over last 5 yrs. He said that they are pursuing greenfield investment & also acquistion in polyester business.
The new refinery at Jamnagar will add nine lakh tonne per annum to polypropylene capacity, he added.
He also said thet they will remain committed to long-term potential of petroleum retail business and leverage retail opportunity via majority stake in Gulf Africa Petro. There are also eight new discoveries across four offshore basins during the year, he added.
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