As fossil fuel loses lustre, RIL shifts focus to oil-to-chemicals conversion


As fossil fuel loses lustre, RIL shifts focus to oil-to-chemicals conversion

Reliance Industries Chairman Mukesh Ambani wants to be ahead of the global shift from fossil fuels to renewable energy. At the 41st AGM on Thursday, he said RIL is exploring new value creation opportunity in an environment where growth in fossil fuel demand could stagnate in a few years.

RIL, Ambani said, would now be focusing on maximising oil-to-chemicals conversion and upgrade all its fuels to high-value petrochemicals. “The hydrocarbon business is thus poised for robust value creation and exciting times ahead,” India’s richest business tycoon said.

“We have successfully commissioned and stabilized the world’s largest Paraxylene complex,” Ambani added. Today, Reliance is the second largest PX producer in the world and Jamnagar has the distinction of being the largest manufacturing facility of PX in the world with 4.2 million MT of capacity, he said. Read More

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