Reliance Cash In On Cheap Russian Oil

Reliance's refinery complex can process almost all types of oil at a rate of almost 1.4 million barrels per day which enables it to profit from price fluctuations. In the present geopolitical scenario, Reliance is set to cash in on cheap Russian oil.

Bloomberg reports that Indian refining behemoth Reliance Industries has postponed plans for repairs at the world's largest oil refining facility, citing the company's desire to churn out more oil based products since profits have lately risen to three-year highs.

Following European consumers' decision to avoid Russian crude, the business has been acquiring cheap shipments of oil from Russia, causing profits on commodities like diesel and naphtha to climb.

Diesel fuel margins reportedly increased by 71 percent in January-March relative to the previous quarter, whereas gasoline margins increased by 17 percent and naphtha prices increased by 18.5 percent.

Reliance's refinery complex can process almost all types of oil at a ra...

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