Reliance Industries Ltd



Mukesh Ambani is the chairman and managing director of Reliance Industries Limited, India's largest private sector company.


2002/5   Reliance buys Indian Petrochemicals Corp

          Reliance mulls PVC plant expansion at ICPL's site

2003/5   Reliance and DuPont Polyester Technologies sign agreement for R&D strategic alliance

          Reliance aims to be world's largest polyester producer

2004/1   リライアンス、NOCILから石化・樹脂事業を買収

2004/6  JSR Reliance Industries Limited にブタジエン製造技術を供与

2004/6  Reliance to acquire Trevira (Europe)

2005/8  Reliance set to acquire BP's France, Belgium facilities

2005/12   India's Reliance to start up new polypropylene line by Feb/Mar

2006/1  インドのReliance、製油所とPP(100t/y)建設


   2006/4 Chevronが共同事業者として参加

   2006/4  Dow Chemical may invest Rs5,000 crore in Reliance's Jamnagar SEZ  

2006/4   India's Reliance on track to start up new PTA plant by end-May

2007/1  Inida's Reliance Industries eyeing GE's Plastics unit

2007/2 RIL board approves $3bn cracker project in Jamnagar.

2007/3  Reliance and IPCL to merge?

 Board of Directors of IPCL and RIL approve merger

 Reliance-Dow to set up $20bn venture

2007/5 Reliance selects Dow technology for polypropylene

2007/9 Reliance makes a strategic acquisition in East Africa

2007/10 Petroperu says looking to partner with Reliance on oil, petchems

2007/12 GAIL - RIL Sign MoU To Set Up Petrochemical Plants globally

2008/6  Reliance to add 900,000 tonnes/yr polypropylene capacity at Jamnagar

2008/7 Reliance plans a 200 kt/yr PET plant for Kinston, NC by end 2009

2010/4 Reliacne Industries and Atlas Energy announce Marcellus Shale Joint Venture

2010/5 RIL and Sibur to jointly pioneer Butyl Rubber production in India

  2010/12 Reliance Industries and SIBUR in a Joint Venture for Butyl Rubber Production in India

      2012/2   SIBUR and Reliancе form a Joint Venture to produce butyl rubber in India

2010/6 Reliance Industries and Pioneer Natural Resources announce Eagle Ford Shale Joint Venture

2011/2 BP and Reliance Industries Announce Transformational Partnership in India



新興財閥で、アンバニ Ambani 財閥とも言われています。

Indian Petrochemicals Corp)、NOCILの石油化学部門等、買収による拡大路線を目指しています。

In June 2002, the Government of India as a part of its disinvestment programme divested 26% of its equity shares in favour of Reliance Petroinvestments Limited (RPIL), a Reliance Group Company, India's fastest growing and most admired private sector group founded by visionary entrepreneur Shri Dhirubhai H. Ambani. RPIL acquired an additional 20% equity shares through a cash offer in terms of SEBI (Takeover Regulations) and currently holds 46% of Company's equity shares.

Reliance Energy

Indian Petrochemicals Corporation Ltd

 The Government of India handed over the Management control to Reliance group on June 4, 2002, since then the company is being managed by Reliance. The new management team has re-endorsed the company's mission to create value for all stakeholders. All out efforts are being made to enhance productivity and control cost for superior value addition.

Reliance Infocomm Limited

Reliance Life Science

Dhirubhai Ambani International School

Dhirubhai Ambani Institute of Information and Communication Technology

Reliance Capital Mutual Fund

■リライアンス・エネルギー  (SENSEX指数銘柄)
Reliance Energy Limited Company
売上高811百万ドル 売上高成長率38% 
従業員5500人  本社ムンバイ リライアンスインダストリーに次ぐ、リライアンス財閥の中核企業です。
発電容量 900メガワット 同社が発見したクリシュナ・ゴダヴァリ盆地のガス田は極めて巨大なものであり、インドのガス生産の60%に相当し、高い競争力を手に入れた事になります。




source: http://www.indiainfoline.com/comp/rein/mr01.html

RIL is the leading player in petrochemicals and man-made fibers in India. In FY01, despite the devastating earthquake in the state of Gujarat, where Reliances major plants are located, company set new production records with total production volume crossing at 10.4 million tons- an increase of 16% over the previous year.

Plant locations

Hazira complex manufactures PVC, PP, HDPE, LLDPE, and MEG using ethylene as the key input.

Patalganga complex has integrated facilities for PSF/ PFY and LAB. Key input is naphtha. It has surplus capacity for PTA.

Naroda (near Ahmedabad) plant has spinning and weaving facilities. It uses PSF/ PFY along with cotton, wool, viscose from outside to produce fabric, yarn and textile products.

Jamnagar Complex has PX and PP facilities adjacent to 27 million TPA refinery.


Polymers (Plastics)

RIL manufactures PP, PVC and PE (HDPE and LLDPE). It also manufactures ethylene oxide, which is an intermediate for manufacture of MEG, a key input for PSF/PFY. Reliance is the largest polymer manufacturer in the country, with the market share of 52%. It is the 6th largest producer of PP in the world with a capacity of nearly 1 million tons. It has 400,000 TPA of PE capacity and 300,000 TPA of PVC capacity.

RIL sources ethylene (major raw material) from its own cracker at Hazira having installed capacity of
750,000 TPA of ethylene. Company is also planning to set up an EDC (ethylene di-chloride) project, which has been the missing link in companys backward integration for manufacturing PVC.

Cracker products

Polyester and fiber intermediates

RIL is the largest producer of PSF and PFY

RIL is the only manufacturer of PTA in India.



RIL manufactures LAB

Reliance Petroleum (RPL)

Oil and Gas

Reliance Infocom

Business Day 2002/5/22

Reliance buys Indian Petrochemicals Corp

India's largest private company Reliance Industries has tightened its hold on the domestic petrochemicals market after acquiring control of Indian Petrochemicals Corp. Ltd. (IPCL), analysts said Monday.
Reliance Industries Ltd. agreed on Saturday to pay the government 14.91 billion rupees ($304.3-million) for a 26 percent stake in the second-biggest chemicals maker.

Reliance, which will take over management control of IPCL, will have two-thirds of India's three million tonne-a-year polymer market as a result of the deal. The group has also emerged as one of the largest producers in Asia of ethylene, a key petrochemical, with a capacity of 1.58 million tonnes a year.

Reliance Industries bought a 26 per cent stake in IPCL in 2002 from the government, and has subsequently raised its stake to over 46 per cent.


Singapore (Platts)--Oct 1 2002 

India Reliance mulls PVC plant expansion at ICPL's site

India's Reliance Industries is mulling a PVC plant expansion project at newly acquired Indian Petrochemicals Corp Ltd's PVC site at Gandhar, a source close to the company said Tuesday. IPCL currently operates a 150,000 mt/yr PVC plant at the Gandhar petrochemical complex in Dahej, Gujarat. The expansion plan would entail adding a further 150,000 mt/yr PVC capacity, either by debottlenecking or integrating a new plant to the existing one at the complex.

2003/5/19 Reliance

Reliance and DuPont Polyester Technologies sign agreement for R & D strategic alliance

Reliance Industries Ltd. (RIL) and DuPont Polyester Technologies (DPT) today announced they have entered into a strategic R&D alliance to jointly develop advanced polyester process and product technologies in India.

This world-class facility will incorporate the latest polyester research equipment as well as pilot lines for high speed POY, FDY, PSF and bicomponent spinning and several unique polymerization pilot plants including one featuring the revolutionary new NG-3 PET resin technology by DuPont.

June 10, 2003 Financial Times

Reliance aims to be world's largest polyester producer/ Ties up with DuPont for joint research

Reliance Industries Ltd has said it plans to become the largest polyester producer in the world. The company plans to spend $30 million on research at the Reliance Technology Centre set up here to develop new polyester technology.

化学工業日報 2004/1/9



* リライアンスは既にIPCLを買収している。

2004/1/7 Reliance

Reliance Associate signs MoU with NOCIL to take over Petrochemicals and Plastics Products divisions

Sunbright, a business associate of Reliance, has signed a Memorandum of Understanding (MoU) with National Organic Chemicals Industries Limited (NOCIL) to take over its Petrochemicals and Plastics Products Divisions.

Under this proposal, the assets of NOCIL's Petrochemical Division, certain liabilities of the Company, and the business and undertaking of the Plastic Products Division as a going concern basis will be demerged from NOCIL and will be vested in Nocil Petrochemicals Limited (NPL), a wholly owned subsidiary of NOCIL. Sunbright will invest in equity of NPL after the process of demerger is completed.

The board of directors of NOCIL at its meeting held today has approved the restructuring proposal and the offer of Sunbright. NOCIL will be shortly filing a petition in the Bombay High Court under section 391 / 394 of the Companies Act, 1956, to give effect to this proposal after obtaining the necessary approval of the shareholders and creditors.

The proposed take over of NOCIL's petrochemical and plastics products division will provide significant synergies with existing petrochemicals businesses of
Reliance Industries Ltd (RIL) and Indian Petrochemicals Corporation Ltd (IPCL).

NOCIL's petrochemicals complex has total petrochemicals capacity of 300,000 tonnes per annum (tpa), which include an ethylene cracker of 80,000 tpa, value added chemicals 90,000 tpa, and fibre intermediates 20,000 tpa. In addition, the complex has a polymer capacity of 80,000 tpa. The Plastics products division at Akola, Maharashtra has a capacity of about 10,000 tonnes per annum of processed polymer products.

NOCIL's petrochemicals division, which is
currently not in operation, will immensely gain from Reliance group's technical and manufacturing expertise. Already an ethylene pipeline links NOCIL's Petrochemicals Division in Navi Mumbai to IPCL's Nagothane plant.

Background information

Reliance Industries Ltd. (RIL) is India's largest private sector company on all major financial parameters with gross turnover of Rs 65,061 crore (US$ 13.7 billion), cash profit of Rs 7,565 crore (US$ 1.6 billion), net profit of Rs 4,104 crore (US$ 864 million), net worth of Rs 30,327 crore (US$ 6.4 billion) and total assets of Rs 63,737 crore (US$ 13.4 billion). RIL features in the Forbes Global list of world's 400 best big companies and in FT Global 500 list of world's largest companies.

RIL has emerged as the 'Best Managed Company' in India in a study by Business Today and A.T. Kearney. RIL was named in the World's Most Respected Companies list published by Financial Times based on a global survey and research conducted by PricewaterhouseCoopers. RIL also emerged as the most respected among Indian companies and amongst the 10 most respected energy and chemical companies in the world.

Reliance Group

The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of Rs 80,000 crore (US$ 16.8 billion), cash profit of over Rs 9,800 crore (US$ 2.1 billion), net profit of over Rs 4,700 crore (US$ 990 million) and exports of Rs 11,900 crore (US$ 2.5 billion). The group's activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocom initiatives. Reliance has emerged as India's Most Admired Business House, for the third successive year in a TNS Mode survey for 2003.

2004/06/09 JSR

インド Reliance Industries Limited にブタジエン製造技術を供与

 JSR(株)(社長:吉田 淑則)は、この度、インドの Reliance Industries Limited向けにブタジエン製造技術のライセンス供与に関して次のとおり契約を締結しました。同技術を使ったプラントの建設は6月より着工する予定です

1)相手先:インド Reliance Industries Limited


3)プラントサイト:インド グジャラート州ハジラ

 本技術は、JSR(株)が独自に開発した、混合溶剤を用いるものです。従来の技術に比較し省エネルギー性に優れており、特に電気の使用量が、1/2から1/3になる最新鋭の画期的なものです。Reliance Industries Limited が建設するブタジエン製造装置はインド国内で最大の生産能力を持ち、CO2削減など、地球環境にやさしい本技術が評価され採用されました。



7)Reliance Industries Limited の概要
 会長:Shri Mukesh Ambani
   売上:13 billion US$(約1兆4千億円)


Platts 2005/12/15                  Jamanagar製油所

India's Reliance to start up new polypropylene line by Feb/Mar

Reliance plans to start up its fourth
280,000 mt/yr polypropylene (PP) line in Jamnagar by late February or early March 2006, a company source said Thursday. Three PP lines of total capacity of 770,000 mt/yr in the same site were restarted in early December from debottlenecking.

The Jamnagar complex primarily has a 27-million tonnes per annum refinery of RPL that is fully integrated with downstream petrochemicals units of RIL, which manufacture naphtha-based aromatics as well as propylene-based polymers.

2006/1/23 Reliance

Reliance Group Announces A Unique Value Creating Opportunity

Reliance Industries Limited today announced that Reliance Petroleum Limited (RPL), it's newly formed wholly owned subsidiary, would be entering the capital market with its IPO sometime in the first half of 2006-07.

RPL is setting up an export oriented
Refinery (27 MMTPA) and Polypropylene Plant (1 MMTPA) ('Project'), in a Special Economic Zone (SEZ) in Jamnagar, Gujarat at an estimated cost of USD6 billion. (approx. Rs27,000 crore).

Platts 2006/4/25

India's Reliance on track to start up new PTA plant by end-May

Indian refiner and petrochemicals giant
Reliance Industries was set to start up its new 650,000 mt/year purified terephthalic acid plant by end-May, said a company source on Tuesday. The plant will be part of Reliance's petrochemical complex at Hazira, near Surat in Gujarat, India.

In the past five weeks, two new PTA plants have been successfully started up in Asia. China's Oriental Petrochemical (Shanghai) Corp has successfully brought onstream its 600,000 mt/year PTA plant in Shanghai. The plant started producing on-spec material on April 1. So far, operations have been smooth and OPC is expected to start selling PTA in the market by early May. The plant, which cost slightly less than $300 million, will run at 100% capacity once initial testing and start-up operations are completed. OPC was set up in January 2003 by the Taiwan's Far Eastern Group.

In mid-March, Indorama Thailand also successfully started up its 700,000 mt/year PTA plant at Rayong, Thailand. Its current operating rate was around 95%.


Reliance to acquire Trevira (Europe)
To emerge as the Number One Global Polyester Fibre Producer

Reliance is to acquire Trevira, a leading producer of branded polyester fibres in Europe. An announcement to this effect was made by Mr. Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, at the company's Annual General Meeting in Mumbai on June 24, 2004.

Trevira has a manufacturing capacity of 130,000 tonnes per annum (polyester staple fibres, filament yarns, chips) spread over four locations in Europe namely Bobingen and Guben (Germany), Silkeborg (Denmark) and Quevaucamps (Belgium). In addition, it has a state-of-the-art research and development (R&D) facility at Bobingen. The agreement to acquire Trevira is subject to certain conditions, including the receipt of regulatory approval from the European Union. This acquisition, when consummated, will be the second international acquisition by Reliance and the first international acquisition in polyester.

2005/8/28 The Hindu Business Line

Reliance set to acquire BP's France, Belgium facilities

RELIANCE Industries Ltd is zeroing in on acquiring the refinery and petrochemicals facilities of BP Plc in France and Belgium.

Sources familiar with the development told Business Line that the due diligence exercise of BP, which had been on in Mumbai for the past few weeks, was now over.


Reliance Industries 20061月、既存のJamanagar製油所に近接した経済特区に新設する製油所(580bpd)を建設・運営するReliance Petroleum を新たに設立した。

The Jamnagar complex primarily has a 27-million tonnes per annum refinery of RPL that is fully integrated with downstream petrochemicals units of RIL, which manufacture naphtha-based aromatics as well as propylene-based polymers.



April 12, 2006 Chevron    Chevronが共同事業者として参加

Chevron Announces Agreements with Reliance to Purchase 5 Percent Stake in India Refinery and Collaborate on Energy Projects
  Chevron invests $300 million to acquire position in Jamnagar export refinery with rights to increase stake to 29 percent

Chevron Corporation today announced that it will spend approximately $300 million to purchase
five percent of Reliance Petroleum Limited (RPL), a company formed by Reliance Industries Limited (Reliance) to own and operate a new export refinery being constructed in Jamnagar, India. RPL plans to commence an initial public offering (IPO) with the net offering to the public of 10 percent of the company from April 13, 2006 until April 20, 2006.

RPL plans to develop a
580,000 barrels per day crude capacity refinery, which is expected to begin operation in December 2008. Chevron has future rights to purchase additional shares to increase its equity ownership to 29 percent.

2006/3/10 Indian Business Insight

政府はDow Global との技術提携契約の申請を承認

Reliance Petroleum Jamnagar経済特区に建設するPP装置のために申請していたDow Global Technologies との技術提携契約を承認した。

RPL is setting up a polypropylene plant at Jamnagar with a capacity of 9 lakh tonnes per annum (tpa).  90万トン

Domain-B.com 2006/4/21

Dow Chemical may invest Rs5,000 crore in Reliance's Jamnagar SEZ

Dow Chemical, the US-based chemical major, may set up a large petrochemical facility in the Jamnagar SEZ of Reliance, next to the proposed Reliance Petroleum (RPL) refinery. According to unconfirmed media reports, Dow may invest up to Rs5,000 crore in the project.
crore = 1000万ルピー, 20万ドル  RS5,000crore =1 billion $)

Reliance had invited global petrochemical companies like Dow, Shell, Exxon Mobil and Mitsubishi Chemical to set up downstream units in the SEZ.

A manufacturing presence in India would offer these companies proximity to the fast growing Asian markets including China and India. They are also assured of feedstock from RPL's mega-refinery unlike western countries which are struggling from lack of refining capacity.

Dow is the technology vendor to the 9-lakh tonnes per annum polypropylene plant being set up by RPL as part of the refinery complex. RPL would pay $26.5 million for the technology.

The Dow Chemical Company is one of the largest specialty chemicals company in the world, known for its research and product innovation capabilities. The company has an asset base of $46 billion and total revenues for the year 2005 stood at $46.3 billion. The company employs more than 42,000 people globally and has a market cap of $39.5 billion.

Dow ranks 36 in the Fortune 500 list of largest American companies.

In 2001 Dow Chemical took over Union Carbide, the company behind the Bhopal gas tragedy. In March this year, a group of US-based investment funds wrote to Dow Chemical to pay $500 million to the victims of the gas tragedy. The company has refused to accept any liability so far.


Global Funds Tell Union Carbide To Settle Bhopal Gas Leak Claims

A group of international investor funds which includes Trillium Asset Management, Domini Social Investments and the Calvert Group (together managing a combined asset value of $13 billion) have advised Union Carbide to settle claims of economic, health and environmental liabilities of over $500 million (Rs 2,500 crore) stemming out of the Bhopal gas leak. The company risks losing billions of dollars in market capitalisation if it fails to do so.

Reliance Industries Limited operates world-class manufacturing facilities at Naroda, Patalganga, Hazira and Jamnagar, all in western India.
The Naroda facility, near Ahmedabad, houses a textile plant on a 150 acre site. The Patalganga complex, near Mumbai, has polyester, fibre intermediates and linear alkyl benzene manufacturing plants and is spread over 200 acres of land. The Hazira complex, near Surat, has a naphtha cracker feeding downstream fibre intermediates, plastics and polyester plants and is spread over 700 acres of land. The Jamnagar complex has a petroleum refinery and associated petrochemical plants making plastics and fibre intermediates. It is spread over 7,400 acres of land.

The Jamnagar complex primarily has a 27-million tonnes per annum refinery of RPL that is fully integrated with downstream petrochemicals units of RIL, which manufacture naphtha-based aromatics as well as propylene-based polymers.

Reliance plans to start up its fourth 280,000 mt/yr polypropylene (PP) line in 2006.
Three PP lines of total capacity of
770,000 mt/yr in the same site

RPL is setting up an export oriented Refinery (27 MMTPA) and Polypropylene Plant (1 MMTPA), in a Special Economic Zone (SEZ) in Jamnagar, Gujarat at an estimated cost of USD6 billion. (approx. Rs27,000 crore).


The Hazira complex of Reliance Industries is spread across 1000 acres of land on the banks of river Tapi, near Surat in Gujarat. The complex manufactures a wide range of Polymers, Polyesters, Fibre Intermediates and Petrochemicals.
The first phase of the complex was commissioned in 1991-92 to generate power/utility and to manufacture Ethylene Oxide (EO), Mono Ethylene Glycol (MEG), Vinyl Chloride Monomer (VCM), Poly Vinyl Chloride (PVC) and High Density Polyethylene (HDPE). A jetty was built for loading and unloading operation of raw material and final products.
The second phase of the project, started in 1995, involved commissioning of the Polyester Complex (POY & PSF) and continued in full backward integration with commissioning of the new Polypropylene (PP), Naphtha Cracker, Purified Terephthalic Acid (PTA) plants and also involved expansion of existing phase 1 plants.

Total Investment
Over US$ 3 billion has been invested at RIL, Hazira.

Plants and Capacities

Plants Licensor Technology Startup Capacity ( KTA ) Installed
CPP & U   May 1991 60 MW
MEG 1 Shell Sep. 1991 100
PVC Geon Dec. 1991 160
VCM Geon Apr. 1992 160
PE 1 Du Pont Jul. 1992 160
POY Du Pont Dec. 1995 120
PP UCC Sep. 1996 360
PSF Du Pont Sep. 1996 160
PTA 1 ICI Jan. 1997 350
CPP 2   1996-1998 190 MW
Cracker S & W Mar. 1997 750
Aromatics HRI/Mobil Mar. 1997 350
MEG 2 Shell Mar. 1997 120
PE 2 Nova May 1997 200
PET Sinco Oct. 1997 80
PFF Du Pont Oct. 1997 30
MEG 3 Shell Oct. 1997 120
PTA 2 ICI Nov. 1997 350



Plant Process Licenser Start up date
Polyester Filament Yarn (PFY) Du Pont Oct.1982
Polyester Staple Fiber (PSF) Du Pont Mar.1986
Purified Terephthalic Acid (PTA) ICI (U K) Feb.1988
Paraxylene Plant (PX) U.O.P (USA) Nov.1988
Linear Alkyl Benzene Plant (LAB) U.O.P (USA) Nov. 1987
L A B (Front End) U.O.P (USA) Mar.1992
A-3 Tank Farm   May 1992
Reliance Industrial Infrastructure Limited Pipe line from BPCL to PG   May 1992


Naroda complex represents the largest investment in the textile industry at a single location.
Naroda complex is Indias most modern textile complex - a recognition bestowed by the World Bank.

2007/2/25 RIL

RIL board approves $3bn cracker project in Jamnagar.
 To set up largest integrated 2 MMTPA petrochemical complex
 RIL Board approves 12 Crore Preferential Warrants to promoters
 Dr. R A Mashelkar appointed Director on RIL Board

The Board of Directors of the Company met today and took the following decisions:
1. Confirm the decision taken on 9th November, 2006 to raise US $2 billion to finance the capital expenditure plan for oil and gas business through External Commercial Borrowings by way of debt.
2. Raise further equity by way of preferential issue of 12 crore warrants exercisable into equal number of equity shares of Rs.10 each of the Company to the Promoters as per SEBI guidelines for Preferential Issues, subject to shareholders approval. An amount equivalent to 10% of the price would be paid on allotment of warrants and the remaining 90% would be paid at the time of subscription to equity shares on exercise of rights attached to the warrants within a period of 18 months. On exercise of such rights the paid up capital of the Company will increase from Rs 1393 crores to Rs 1513 crores.
3. Build one of the largest integrated cracker and petrochemicals complex with a total capacity of 2 mmtpa in the SEZ at Jamnagar. This cracker will use refinery off gases and other byproducts as feedstock to manufacture ethylene, propylene and its downstream commodity and speciality derivatives. The proposed facility will be built at a capital cost of US $ 3 billion and is expected to go on stream by 2010 -11. This unique integration with the refinery will place the proposed cracker complex at par with the most efficient producers of olefins and derivatives in the world including those in the Middle East and will enable the Company to achieve one of the most competitive cost positions.
4. Appoint Dr. R.A. Mashelkar as an independent director on the Companys board, subject to necessary Government approvals.

MARCH 08, 2007 REUTERS    Reliance-IPCL merger in pipeline

Reliance and IPCL to merge?

Plans by Reliance Industries Ltd to absorb its Indian Petrochemicals Corp Ltd (IPCL) unit have been long expected and so were unlikely to significantly boost the unit's shares, analysts said.

Reliance, India's top petrochemicals maker, said on Wednesday its board would meet on March 10 to consider the amalgamation of IPCL with itself.

"This merger was always on the cards and the markets are not in a phase today where they will blindly take stocks higher," said V K Sharma, head of research at Anagram Stock Broking Ltd.

Analysts said IPCL shares may not see much upside on Thursday as the amalgamation would be in Reliance's favour, and that current stock prices could be the benchmark for the share swap ratio.

"Reliance's history shows that it always takes the cake when it merges some or the other entity with itself," Sharma said. Indian media said the market was speculating on a merger ratio of one share of Reliance for anywhere between three and six shares of IPCL.

"I don't want to speculate, but everyone knows that Reliance's share price is trading 6.5 times higher than IPCL's," said Jigar Shah, head of research at brokerage firm K R Choksey.

Reliance Industries bought a
26 per cent stake in IPCL in 2002 from the government, and has subsequently raised its stake to over 46 per cent.

In June 2002, the Government of India as a part of its disinvestment programme divested 26% of its equity shares in favour of Reliance Petroinvestments Limited (RPIL), a Reliance Group Company, India's fastest growing and most admired private sector group founded by visionary entrepreneur Shri Dhirubhai H. Ambani. RPIL acquired an additional 20% equity sh

India Times 2007/5/16              ブログ

RPL selects Dow technology for polypropylene

Reliance Petroleum Ltd, a unit of Reliance Industries building a refinery and petrochemical complex at Jamnagar in Gujarat, has selected Dow Chemical's technology for production of polypropylene.

RPL has selected the
UNIPOL-PP Process for its 900,000 tons per annum polypropylene production unit at the special economic zone adjacent to RIL's existing Jamnagar complex.   既報では100万トン

"Startup is scheduled in December 2008," Dow Global Technologies Inc, a wholly-owned subsidiary of Down Chemical Co, said in a press release here.

RIL, Asia's largest producer of polypropylene, currently operates four UNIPOL PP Process lines at its Jamnagar complex and two UNIPOL PP Process lines at its Hazira complex.

"The new facility will produce a full range of homopolymers to supply the growing markets in Asia," it said.

Licensees of the UNIPOL PP Process operate more than 35 production lines around the world, accounting for more than 5.5 million tons of global polypropylene production.

September 4, 2007 Reliance

Reliance makes a strategic acquisition in East Africa
Towards global ambitions in the petroleum sector

Reliance has acquired a Majority stake and Management control of
Gulf Africa Petroleum Corporation (GAPCO), a company which has a significant presence in East Africa in the petroleum downstream sector. The acquisition has been made through a wholly owned subsidiary, Reliance Industries Middle East, Dmcc (RIME), a company registered in United Arab Emirates.
GAPCO, an entity based in East and Central Africa with headquarters in Mauritius, owns and operates large storage terminalling facilities and a retail distribution network in several countries - including Tanzania, Uganda, Kenya. It also owns and operates large storage terminals in Dar Es Salaam (Tanzania), Mombassa (Kenya), Kampala (Uganda) and has other well spread depots in East & Central Africa. It also operates more than 250 Outlets covering retail and industrial segments.

The deal, which is one of the biggest mergers in recent years in the region, will see Reliance controlling a 51% majority stake in the Gapco Group, while the Kotak family will now remain with 49%.
Gapco Group is a regional multinational company which has heavily invested in Tanzania, Uganda, Rwanda, Burundi, Kenya, Zambia, Malawi and Sudan.

December 4, 2007 Reliance

GAIL - RIL Sign MoU To Set Up Petrochemical Plants globally

Reliance Industries Limited (RIL) and GAIL (India) Limited today signed a Memorandum of Understanding (MoU) for Joint Co-operation in Petrochemicals.

Under the MoU, GAIL and RIL will explore opportunities for
setting up petrochemical complexes outside of India in feedstock rich countries. Identified opportunities will be examined by a Working Group, consisting of representatives from both the companies. GAIL and RIL will set up a Special Purpose Vehicle (SPV) for setting up petrochemical complexes abroad.
The Working Group is examining such opportunities in
Middle East, Russia and FSU (former Soviet Union) countries.
In addition, the two companies will also examine the possibilities of mutual co-operation in the domestic market.

Dec.17, 2007 economictimes.indiatimes.com

Reliance, GAIL identify 10 countries for petrochemical plant

Reliance Industries, India's most valued company, and state-run gas firm GAIL India have identified 10 countries including Qatar, Australia and Russia for setting up a multi-billion-dollar petrochemical plant.

An MoU signed by RIL and GAIL on December 4 lists
Qatar, Abu Dhabi, Bahrain, Vietnam, Australia, South Africa, Angola, Mexico, Russia and Former Soviet Union countries as areas where the two would explore jointly establishing up to 2 million tons chemical plant.

Back home, the two companies would also cooperate in areas of distribution and marketing of petrochemicals, including 'product-swapping'.

Jun 12, 2008 Thomson Financial via COMTEX

Reliance says to add 900,000 tonnes/yr polypropylene capacity at Jamnagar

Reliance Industries Ltd. said the company will commission a 900,000 tonne per annum polypropylene facility this year at its flagship Jamnagar site in the western state of Gujarat, making it the world's third-largest producer.
At the company's AGM on Thursday chairman Mukesh Ambani said it will also commission a
580,000 barrels per day oil refinery at Jamnagar "earlier than scheduled" this year.


The 7th largest manufacturer of Polypropylene (PP) in the world, Reliance would shortly be amongst the top five global producers of PP with the capacity reaching 2835 KTA from the present capacity of 1,735 KTA  (上記増設前)

Reliance Polymers offers the entire range of Polyethylene (PE) viz. High Density Polyethylene (HDPE), Linear Low-density Polyethylene (LLDPE) and Low Density Polyethylene (LDPE) with a total capacity of 990 KTA.

Reliance Polymers is India's largest manufacturer of suspension grade Polyvinyl Chloride (PVC), with a capacity of 625 KTA per annum and a wide range of viscosities.

Platts 2008/7/8

Reliance plans a 200 kt/yr PET plant for Kinston, NC by end 2009

India's Reliance Industries plans to build and have online a 200,000 mt/year bottle resin PET plant in Kinston, North Carolina, by the end of 2009, a source close to the company said Tuesday.

The site currently produces polyester yarn (POY) but Reliance plans on taking the spinning machines from Kinston back to India where the company would produce POY to sell in India's growing polyester market.

June 21, 2008  journalnow.com

Unifi Kinston LLC subsidiary sold to Reliance Industries

Unifi Inc. said in a regulatory filing that its Unifi Kinston LLC subsidiary has sold its polyester-manufacturing plant in Kinston for $12.2 million to Reliance Industries USA Inc.

Unifi said that the subsidiary would pay E.I. DuPont de Nemours about $3.7 million to satisfy certain demolition and removal obligations created by the sale of the assets.

Unifi said that it expects to record a gain of about $6.9 million when the sale closes in the first half of 2009.


Reliance submits interest in Canada firm Value Creation

Energy major Reliance Industries Ltd has submitted a $2 billion expression of interest for private Canadian firm
Value Creation Inc, a television channel reported on Friday.

The Canadian firm holds oil sands assets, the report said.


Value Creation Inc. (VCI) is a private Alberta company established in 1998. VCI is part of the Value Creation Group of Companies (the "Group"), which is focused on transforming the oil sands industry by applying its breakthrough proprietary technology to resource development and to bitumen upgrading. The Groups vision is to be a pre-eminent oil sands developer, differentiating itself with innovative technologies and creative applications to create enhanced value in the full oil sands development value chain.

VCIs extensive resource base positions VCI to become a major oil sands player. Its wholly-owned oil sands resources cover 430 square miles - one of the largest oil sands resources held by an independent Canadian company. The largest block of leases, Terre de Grace, covers approximately 290 square miles in the western part of the Athabasca region.

Advanced technology is the key to lower oil sands production costs and lower bitumen upgrading costs. Together with its affiliate, Technoeconomics Inc., VCI has developed proprietary technology designed to achieve these goals.

The first commercial application of the Value Creation Group technology has been spearheaded by BA Energy with its Heartland Upgrader, currently being constructed in Strathcona County, northeast of Edmonton, Alberta. VCI also plans to apply its breakthrough technology and synergistic integration with Steam Assisted Gravity Drainage (SAGD) to develop its extensive oil sands leases, commencing with its first development project at Terre de Grace near Fort McMurray, Alberta.

Value Creation acquires BA Energy
Value Creation Inc. announces that BA Energy Inc. has become a whollyowned subsidiary of Value Creation effective February 26, 2008. BA Energy is constructing the Heartland Upgrader, a merchant bitumen upgrader using proprietary upgrading technologies developed by Value Creation in Strathcona County, northeast of Edmonton, Alberta.

Upgrader ではアスファルト状のビチュメンから合成石油を生産する。 )

Press Trust of India, March 17, 2010

BP Plc beats RIL for majority stake in Value Creation

Supermajor BP Plc will pick up a majority stake in ailing Canadian oil sands company Value Creation Inc, a property for which Reliance Industries too was said to be in race.

BP will pay an undisclosed amount for a majority stake in the 185,000-acre Terre de Grace oil sands property in northern Alberta, closely held Value Creation said in a statement.
Earlier, it was reported that RIL had made a $2 billion bid for majority stake in Value Creation. Though, the company spokesperson declined to confirm if it had actually put in a bid.

Canada's oil sands has the largest crude reserves outside the Middle East.
The news comes within days of RIL's takeover bid for bankrupt chemical maker LyondellBassel being snubbed by its management.

2010/4/9 Reliance

Reliacne Industries and Atlas Energy announce Marcellus Shale Joint Venture

Reliance Industries Limited (RIL) today announced that its Subsidiary, Reliance Marcellus LLC, has executed definitive agreements to enter into a joint venture with United States based Atlas Energy, Inc., of
Pittsburgh, Pennsylvania under which Reliance will acquire a 40% interest in Atlas' core Marcellus Shale acreage position.

三井物産は216日、三井石油開発とのJVMitsui E&P USA を通して、Anadarko Petroleum が米国ペンシルベニア州のMarcellus Shaleエリアにおいて開発・生産中のシェールガス事業に参画すると発表した。

For an acquisition cost of $339 million and an additional $1.36 billion capital costs under a carry arrangement for 75% of Atlascapital costs over an anticipated seven and a half year development program, Reliance becomes a partner in approximately 300,000 net acres of undeveloped leasehold in the core area of the Marcellus Shale in southwestern Pennsylvania. Low operating costs and proximity to U.S. northeast gas markets combine to make the Marcellus one of the most economically attractive unconventional natural gas resource plays in North America. The acreage will support the drilling of over 3,000 wells with a net resource potential of approximately 13.3 tcfe (5.3 tcfe net to Reliance).
The transaction is anticipated to close by the end of April 2010.
While Atlas will serve as the development operator for the joint venture, Reliance is expected to begin acting as development operator in certain regions in the coming years as part of the joint venture.
Under the framework of the joint venture, Atlas will continue acquiring leasehold in the Marcellus region and Reliance will have the option to acquire 40% share in all new acreages. Reliance also obtains the right of first offer with respect to potential future sales by Atlas of around 280,000 additional Appalachian acres currently controlled by Atlas, (not included in the present joint venture). The Reliance-Atlas joint venture thus has the potential to become one of the largest prime acreage holders in the Marcellus Shale.
Commenting on the joint venture, Mr. PMS Prasad, Executive Director, Reliance Industries said, "Reliance is very pleased to enter one of the fastest growing opportunities emerging in the U.S. unconventional gas business and that too with one of the largest, most experienced energy producers in the Appalachian Basin as partner.
This joint venture will materially increase Reliance's resources base and provide Reliance with an entirely new platform from which to grow its exploration and production business while simultaneously enhancing its ability to operate unconventional projects in the future."
Barclays Capital Inc. acted as exclusive financial advisor to Reliance for the transaction and Vinson & Elkins LLP acted as legal counsel to Reliance. Bank of America Merrill Lynch provided strategic and financial advise to RIL in respect of this investment.

May 16th, 2010

RIL and Sibur to jointly pioneer Butyl Rubber production in India    IIR(isobutylene-isoprene rubber)

Reliance Industries Ltd. (RIL), India's largest private sector company, and Sibur, Russia's leading petrochemical company, have signed a Memorandum of Understanding (MoU) to set up a joint venture in India. This new joint venture will produce butyl rubber at Reliance's integrated petrochemical site in Jamnagar, India.
According to the MoU,
Sibur will provide proprietary technology for butyl rubber polymerisation and its finishing, while RIL will supply monomers and provide the JV with world class infrastructure and utilities.
Commenting on the initiative, RIL Spokesperson said,
Reliance is committed to serving the Indian rubber industry. This industry is growing rapidly on the back of automobile demand in India and the sub-continent. This step reinforces RIL's commitment to the synthetic rubber industry in India. It is also a significant milestone in taking forward the vision of our Chairman, Mr. Mukesh D. Ambani, for the Elastomer industry.
The creation of new capacity in close proximity to the Asian markets provides both Sibur and Reliance with exciting opportunities. Rubber consumption in Asia has shown strong growth in recent years, triggered by increased volumes of tyre production, Dmitry Konov, President of Sibur, said.

About Sibur
Sibur is the leading petrochemical company in Russia and Eastern Europe. The Company operates across the entire petrochemical value chain from gas processing to the production of monomers and plastics, synthetic rubbers, mineral fertilizers, tyres and industrial rubber goods, as well as the processing of plastics.
Sibur produces over 2000 different types of products. The Company processes more than half of Russia's APG and produces 23% of propylene and polypropylene, 17% of polyethylene, 30%- 49% of different synthetic rubbers, 34% of tyres, 16% of nitrogen fertilizers, and a considerable number of other petrochemical products for the Russian market.

Sibur operates plants in 20 regions of Russia. The Company is managed along product division lines - Hydrocarbon Feedstock, Synthetic Rubbers, Plastics and Organic Synthesis Products, Mineral Fertilisers and Tyres.
Gazprombank Group is the principle shareholder of Sibur Holding JSC and owns more than 95 % of the Company. Sibur Holding JSC is managed by Sibur LLC which acts as the holding Company's sole executive body.
Over recent years, the Company has consistently delivered healthy financial and operational results. In 2009, Sibur Group plants processed 16.8 billion m3 of APG, produced 15 million tons of petrochemicals and dry gas. In 2009, Sibur had revenues of more than 150 billion rubles.


June 24, 2010 Reliance    Reliacne Industries and Atlas Energy announce Marcellus Shale Joint Venture

Reliance Industries and Pioneer Natural Resources announce Eagle Ford Shale Joint Venture

Reliance Industries Limited (RIL) today announced that its subsidiary, Reliance Eagleford Upstream LP, has executed definitive agreements to enter into a joint venture with United States based Pioneer Natural Resources
Company, of Irving, Texas under which Reliance will acquire a 45% interest in Pioneer's core Eagle Ford Shale acreage position in two separate transactions. Pioneer and Newpek LLC, Pioneer
s current partner in the Eagle Ford, will simultaneously convey 45% of their respective interests in the Eagle Ford to Reliance. Newpek, a wholly owned subsidiary of ALFA, S.A.B. de C.V., currently owns an approximate 16% non-operated interest in Pioneers core Eagle Ford Shale acreage. Following the transactions, Pioneer, Reliance and Newpek will own 46%, 45% and 9% of the joint venture interests, respectively. The joint venture will have an approximate net working interest of 91% in 289,000 gross acres implying 263,000 net acres.
Reliance will pay $1.315 billion for its implied share of 118,000 net acres. This upstream transaction consideration will include combined upfront cash payments of $263 million and deferred payments of $1.052 billion associated with a carry arrangement for 75% of Pioneer
s and Newpeks capital costs over an anticipated four years. The joint ventures leasehold, which is largely undeveloped, is located in the core area of the Eagle Ford Shale in south Texas. Low operating costs, significant liquids content (70% of the acreage lies within the condensate window) and excellent access to services in the region combine to make the Eagle Ford one of the most economically attractive unconventional resource plays in North America.
Pioneer believes the acreage will support the drilling of over 1,750 wells with a net resource potential to the joint venture of approximately 10 tcfe (4.5 tcfe net to RIL).
The joint venture plans to increase the current drilling program to approximately 140 wells per year within three years. Also included in the transaction is current production of 28 mmcfe/d (11 mmcfe/d net to Reliance) from five currently active horizontal wells.
While Pioneer will serve as the development operator for the upstream joint venture, Reliance is expected to begin acting as development operator in certain areas in the coming years as part of the joint venture.
Additionally, Reliance and Pioneer have executed definitive agreements to form a midstream joint venture that will service the gathering needs of the upstream joint venture. Reliance
s subsidiary, Reliance Eagleford Midstream LLC, will pay $46 million to acquire a 49.9% membership interest in the joint venture. Pioneer and
Reliance will have equal governing rights in the joint venture and Pioneer will serve as operator.
Under the framework of the joint venture, Pioneer will continue acquiring leasehold in the Eagle Ford Shale and Reliance will have the option to acquire a 45% share in all newly acquired acres.
Commenting on the joint venture, Mr. PMS Prasad, Executive Director, Reliance Industries said, "Reliance is very pleased to establish a long-term partnership with Pioneer in the Eagle Ford shale. This transaction represents another significant milestone in Reliance's efforts to grow its North American shale gas perations."
Barclays Capital Inc. and UBS Securities LLC acted as financial advisors to Reliance. Baker Botts LLP acted as legal counsel to Reliance.

December 21, 2010            MOU

Reliance Industries and SIBUR in a Joint Venture for Butyl Rubber Production in India

The trade relations between India and Russia were given a boost during the official visit of Russian President Dmitry Medvedev to India, as the country
s largest private sector company Reliance Industries Limited (RIL) and the leading Russian petrochemical company SIBUR today announced a joint venture for the production of butyl rubber in India.
The joint venture facility will have an initial capacity of
100,000 tons of butyl rubber at RILs integrated refining-cum-petrochemical site in Jamnagar, India and is expected to be commissioned by 2013. Estimated investment in the project will be US $ 450 mn. The plant will initially produce regular butyl rubber and is expected to manufacture other types of butyl rubber specialities in the future. SIBUR will provide its proprietary technology for butyl rubber polymerization and finishing, while RIL will supply monomers and provide the JV with world-class infrastructure and utilities. RIL will have a majority stake in the joint venture.
Commenting on this development, Mr. N. R. Meswani, Executive Director, RIL, said
This is a significant step towards Reliances commitment to service Indias growing automotive sector by bringing in complex technologies, available with only a very few companies globally. The setting up of domestic manufacturing of butyl rubber will fulfil a long standing demand of the Indian tyre and rubber industry and this investment is part of Reliances vision of emerging as a significant global payer in the synthetic rubber business.
"We are satisfied with the dynamics of the creation of the joint venture and hope to begin construction soon," said SIBUR's President Dmitry Konov commenting on the joint venture. "SIBUR has unique technologies for the production of synthetic rubber, which in partnership with Reliance will cater the growing needs of the Indian tyre industry with high-quality raw material."

SIBUR is the largest petrochemical company in Russia and Eastern Europe. The value chain of the company covers gas processing, the production of plastics, synthetic rubbers, nitrogen fertilizers, tyres, rubber products, and plastics processing. In 2009, SIBUR has processed more than 16.8 billion m3 of associated petrol gas and produced more than 15 million tons of various petrochemical products. SIBUR's revenue in 2010 is projected to reach over 220 billion roubles (over US$ 7 billion).


 JSRは9日、インド最大の石油・石油化学会社リライアンス(Reliance Industries)向けに、ブタジエン製造技術のライセンス供与を行うと発表した。同国グジャラート州ハジラ地区の工場敷地内に年産14万トン規模の ブタジエン抽出プラントを建設する。6月に着工し、2005年初完成の予定。

2012/2/21 Reliance         2010/12 合意

SIBUR and Reliancе form a Joint Venture to produce butyl rubber in India

SIBUR, Russia and Eastern Europe's largest petrochemical company, and Reliance Industries Limited (RIL), India's largest private company, have agreed to form a joint venture named Reliance Sibur Elastomers Private Limited to produce 100,000 tons of butyl rubber per year in Jamnagar, India.
The JV will be the first manufacturer of butyl rubber in India and the fourth largest supplier of butyl rubber in the world.
The JV will cater to the demand for synthetic rubber from the Indian automotive industry of over 75,000 tonnes per year, which is currently satisfied by imports. Investment in the JV is in line with Reliance’s vision of emerging as a significant player in the global synthetic rubber market.
Reliance share in the JV will total 74.9%, while Sibur will account 25.1%. The JV will invest US$450 million to construct the facility, which is expected to be commissioned in mid-2014.
Reliance and SIBUR also signed a technology licence agreement facilitating use by the JV of SIBUR's proprietary butyl rubber production technology at the new production facility. SIBUR will develop basic engineering design for the facility and also train the JV’s personnel at SIBUR’s production site in Togliatti, Russia.

15 Jun, 2018

Reliance investing in India's first carbon fiber unit

Reliance Industries is investing in setting up India's first carbon fiber manufacturing unit to cater to aerospace and defence needs, the company said in its annual report.

The owner of world's largest oil refining complex will also make low-cost and high-volume composite products like modular toilets, homes and composites for windmill blades and rotor blades.

Without giving investment details, Reliance in its latest annual report said it has developed capabilities for 3D printing of wide-range of plastic and metals products.

Reliance is developing new business verticals in the petrochemicals business to capture Rs 30,000 crore composites market and has plans to produce graphene, enhanced plastics and elastomers, fiber reinforced composites which can replace steel.

A composite is an engineered material made from two or more ingredients with significantly differing properties, either physical or chemical. One of the most common forms of composite in use today is carbon fiber.

It is made by heating lengths of rayon, pitch or other types of fiber to extremely high temperatures in an oxygen-deprived oven. The resultant rayon strands are spun into a thread, then woven into sheets and mixed with hardening resins to form the various components needed.

"RIL is investing in India's first and largest carbon fiber production line with its own technology – to cater to India's aerospace and defence needs as well as the specialty industrial applications," it said.

It had last year acquired the assets of Kemrock Industries to enter the composites business and is focusing on thermoset composites such as glass and carbon Fibre-Reinforced Polymers (FRPs).

"The ability to deliver exceptional strength (similar to or better than steel) at a significantly lower weight is a critical performance attribute of FRPs. Additionally, FRPs can withstand harsh weather, have a long life with minimal maintenance, are corrosion resistant and can be moulded into any shape," it said.

Composites are used in a wide range of markets and applications: industrial, railways, renewable energy, defence and aerospace.

"RIL expects the newly launched Reliance Composites Solutions (RCS) business to be the No. 1 composites player in India," the company said.

Stating that it will focus on design and specifications driven markets and applications that have the potential to grant better returns, it said the focus areas include wind mill blades and parts for railways and metros, which have exacting standards of performance and safety (especially fire retardant).

Also on the radar are carbon wraps to rehabilitate/refurbish India's old infrastructure – bridges, buildings (for improved seismic performance) and pipes.

"RCS will design and administer low-cost and high-volume products such as modular toilets and homes to support the Swachh Bharat Mission, disaster relief measures and Housing for All programmes initiated by the Indian Government," the annual report said.

RIL said industrial 3D printing (especially with metal) is reaching an inflection point and the company has developed the capabilities to design and print a wide range of products using 3D printing technology – in both plastic and metal – from prototypes to functional parts.

Sep 07, 2020 

Reliance Industries to spin off oil to chemicals business

According to the plan, RIL’s oil-to-chemicals assets, including its refining, petrochemicals, fuel retail (majority interest only) and bulk wholesale marketing businesses, along with its assets and liabilities, will be transferred to a new unit.

Reliance Industries Ltd on Sunday released details related to carving out its oil-to-chemicals business into a separate entity, six months after it first announced the proposal as a precursor to a stake sale.

According to the plan, RIL’s oil-to-chemicals assets, including its refining, petrochemicals, fuel retail (majority interest only) and bulk wholesale marketing businesses, along with its assets and liabilities, will be transferred to a new unit.

In April, RIL approved an arrangement for transfer of its oil-to-chemicals (O2C) business to Reliance O2C Ltd as a going concern on slump sale basis.

The separation of the assets was planned as part of RIL’s target to sell 20% in its refining and chemicals business to Saudi Aramco.

The deal, however, has been delayed.

2020/1/4 インド政府、RelianceとAramcoの提携を阻止

Assets, including Reliance Ethane Holding Pte Ltd, Reliance Gas Pipelines Ltd, Gujarat Chemical Port Ltd, Reliance Corporate IT Park Ltd, Reliance Industrial Infrastructure Ltd, among others, will not be part of the oil to chemicals undertaking.

In a document on its website, RIL said it has been exploring options to bring in strategic investors in the O2C business.

24 Jan 2021

Reliance spins off oil-to-chemical unit   

Billionaire Mukesh Ambani's 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.

2019/8/16 Saudi Aramco、インドのRelianceの石油・化学関連事業へ出資

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 KG-D6 and textiles business.

Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results. Previously, refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm's overall retail business.
In the October-December 2020 earnings statement, refining and petrochemical as well as fuel retailing businesses earnings were reported as one. As a result, it did not give refining margins - the most sought after number to assess the firm's oil refining business.

"Reorganising refining and petrochemicals as oil-to-chemicals (O2C) reflects new strategy as well as management matrix," the company said in a post earning investor presentation.
This, it said, will "facilitate holistic and agile decision making" as well as "pursue attractive opportunities for growth with strategic partnerships".

Reliance started work on hiving off the O2C business into a separate unit last year for a possible stake sale to companies such as Saudi Aramco.
It values the O2C business at USD 75 billion and has been in talks with Saudi Arabian Oil Co (Aramco) for sale of a 20 per cent interest.
The company, however, did not mention discussions with Aramco, which are said to have hit a valuation roadblock.

The reorganisation would "drive the move towards further downstream and closer to customers" and "provide sustainable and affordable energy and materials solutions to meet India's growing needs," the firm said in the presentation.

Reliance O2C Limited houses oil refining and petrochemical plants and manufacturing assets, bulk and wholesale fuel marketing, and Reliance's 51 per cent interest in retail fuel joint venture with BP of the UK.

The O2C unit also houses the firm's Singapore and the UK-based oil trading subsidiaries and marketing subsidiary, Reliance Industries Uruguay Petroquimica SA.
It also houses Reliance Ethane Pipeline Limited that operates a pipeline between Dahej in Gujarat and Nagothane in Maharashtra as well as 74.9 per cent stake that Reliance holds in the joint venture with Sibur.

Its very large ethane carriers, gas pipelines such as one that transports coal-bed methane from its CBM blocks, overseas oil and gas asset holding company Reliance Industries (Middle East) DMCC, and domestic exploration and production assets would not form part of the O2C unit.
Also, Reliance's textiles business as operated out of the Naroda site, Baroda township and land, including cricket stadium, Jamnagar power assets, and Sikka Ports and Terminals Limited would also not be part of the O2C unit.

Ambani had in July 2019 stated that the process of spinning of O2C into a separate subsidiary would be completed by early 2021.
Reliance owns and operates twin oil refineries at Jamnagar in Gujarat, with a combined capacity of 68.2 million tonnes per annum.
It is also the country's largest petrochemical manufacturer with units at Jamnagar, Dahej, Hazira, Nagothane, Vadodara, Patalganga, Silvassa, Barabanki, and Hoshiarpur.
The company holds a 66.6 per cent stake in the KG-D6 block where it is investing about USD 5 billion in developing a second set of gas discoveries along with BP.

It also has a similar stake in the NEC-25 block in the Bay of Bengal and operates two CBM blocks in Madhya Pradesh. These upstream assets are not part of the O2C unit.
"Reliance O2C (is) one of the most integrated manufacturers of value-added fuels, chemicals and materials," the presentation said. "O2C to maximize downstream, reduce transportation fuels and create clean and green energy platforms."

green-clean energy に集中、AramcoとのOil-to-Chemicalsでの協力関係を再検討
Saudi Aramco And Reliance To Re-Evaluate Stake In O2C Business  

19th November 2021   Reliance

Reliance Industries Limited and Saudi Aramco signed a non-binding Letter of Intent in August 2019 for a potential 20% stake acquisition by Saudi Aramco in the O2C Business of  Reliance. Over the past two years, both the teams made significant efforts in the process of due diligence, despite Covid restrictions. This has been possible due to the mutual respect and long-standing relationship between the two organisations.

Saudi AramcoとインドのReliance Industriesは8月12日、AramcoがRelianceのOil-to-Chemicals 部門に出資する非拘束のLetter of Intent を結んだ。
今後、due diligence を行い、関係部門の承認を得て、来年3月までに確定させる。

Oil-to-Chemicals 部門は石油精製と石油化学と燃料のマーケティングの事業で、西海岸GujaratのJamnagar refining complex (精製能力 日量124万バレル)を含む。

Oil-to-Chemicals 部門の事業価値を750億ドル(債務込み)と想定し、これの20%を取得する。150億ドルの投資となり、外国企業によるインドへの投資の最大のものの一つとなる。

2019/8/16 Saudi Aramco、インドのRelianceの石油・化学関連事業へ出資

2020/1/4 インド政府、RelianceとAramcoの提携を阻止

Reliance recently unveiled its plans for the New Energy & Materials businesses by announcing the development of Dhirubhai Ambani Green Energy Giga Complex at Jamnagar. It will be amongst the largest integrated renewable energy manufacturing facilities in the world.Dhirubhai Ambani は創業者の名前)

The Four Giga Factories which will be part of the complex will include:

1. an integrated solar photovoltaic module factory for production of solar energy
2. an advanced energy storage battery factory for storage of intermittent energy
3. an electrolyser factory for production of green hydrogen and
4. a fuel cell factory for converting hydrogen into motive & stationary power

Jamnagar, which accounts for a major part of the O2C assets, is envisaged to be the centre for Reliance’s new businesses of Renewable Energy & New Materials, supporting the Net-Zero commitment.

Due to evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context. Consequently, the current application with NCLT for segregating the O2C business from RIL is being withdrawn.

The deep engagement over the last two years has given both Reliance and Saudi Aramco a greater understanding of each other, providing a platform for broader areas of cooperation.
Saudi Aramco and Reliance are deeply committed to creating a win-win partnership and will make future disclosures as appropriate.

RIL shall continue to be Saudi Aramco’s preferred partner for investments in the private sector in India and will collaborate with Saudi Aramco & SABIC for investments in Saudi Arabia.

Saudi Aramco and RIL have a very deep, strong and mutually beneficial relationship, that has been developed and nurtured by both companies over the last 25 years. Both companies are committed to collaborate and work towards strengthening the relationship further in the years ahead.


What are the factors that have led to the deal being called off?

The Covid-19 pandemic had played a significant role in delaying the planned investment by Aramco as the pandemic caused crude oil prices to crash in line with demand for petroleum products. Experts noted that this likely impacted Aramco’s ability to acquire the 20 per cent stake in the RIL’s O2C business.

Further, RIL’s announcement to become a net zero carbon emitter by 2030 and plans to optimise its Jamnagar refinery to produce on jet fuels and petrochemicals may have impacted Aramco’s interest in investing in the O2C.

“RIL and Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” RIL said in a statement. The company said the Jamnagar complex which is a key part of its O2C business would be the centre of Reliance’s renewable energy and new materials business, supporting its net zero carbon emissions commitment.

“These plans are counterintuitive to Aramco’s interest and world view. Oil production countries have been making the case that fossil fuel assets need to be given more time and investment so that the energy transition can be gradual,” said an equity analyst who did not wish to be named.

Jamnagar is set to become the site for RIL’s “Green Energy Giga Complex” which is set to include an integrated solar photovoltaic module factory, an advanced energy storage factory, an electrolyser factory and a fuel cell factory.

The analyst noted that Aramco may have also had concerns that a large part of it’s investment could be used to repay loans to RIL, which the Mukesh Ambani led firm may then use to fund its green energy related projects.

Post the reorganisation of the O2C business, the new entity would have had a $25 billion loan from RIL on its balance sheet according to an investor presentation by RIL.


RIL’s move to green-clean energy with Dhirubhai Ambani Green Energy Giga Complex