RIL's Jan oil imports down 14.2 percent from Dec

Tue Feb 25, 2014 1:57pm IST

A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar January 17, 2014. REUTERS/Amit Dave/Files

A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar January 17, 2014.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

REUTERS - Reliance Industries Ltd(RELI.NS), owner of the world's biggest oil refining complex, imported 14.2 percent less crude in January compared with the previous month and continued to skip purchases from Iraq, trade data compiled by Reuters show.

Reliance imported about 1.09 million bpd in January as it had cut runs at its older 660,000 barrels per day (bpd) plant by about 23 percent from a year ago.

Its purchases also eased last month as crude inventory had built up after an emergency shutdown of a distillation unit in December. The private refiner shipped in about 1.3 million bpd in December and a similar amount in January 2013, the data showed.

Billionaire Mukesh Ambani's Reliance operates two refineries at Jamnagar in Gujarat that can together process 1.2 million bpd oil.

Reliance also made a rare purchase of Canadian heavy oil Cold Lake in January and bought Kazakhstan's CPC Blend for a second month in a row, the data showed. It was the third month in a row that it did not buy any Iraqi oil.

In January Reliance perhaps for the first time received Venezuelan DCO, or diluted crude oil, a blend of extra heavy crude oil and heavy naphtha.

Reliance has a term deal to buy as much as 400,000 bpd of oil from Venezuela, its top supplier, ahead of Saudi Arabia.

Reliance continuously diversifies its crude slate, making new and rare purchases to take advantage of the complexity of its plants to improve margins by processing cheaper heavy grades.

Reliance's imports from outside the Middle East included Merey, Leona and Hamaca from Venezuela; Maya from Mexico; Vasconia from Colombia; Peregrino, Albacora and Roncador from Brazil; Azeri Light from Azerbaijan; Ras Gharib from Egypt; Pazflor and Dalia from Angola; and Dar Blend from Sudan.

It also buys oil from the Neutral Zone, a region whose production belongs to both Saudi Arabia and Kuwait. Grades from the joint area include Khafji, Ratawi, Houte and Eocene.

Graphic - Oil imports by Reliance and Essar - link.reuters.com/myh27v

(Reporting by Nidhi Verma; Editing by Tom Hogue)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

L&T Slumps

L&T Slumps

L&T earnings raise 'multiple red flags' - Citi  Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage