Reliance’s Nov oil imports down 9 per cent from Oct: Trade sources


Reliance’s Nov oil imports down 9 per cent from Oct: Trade sources

India’s Reliance Industries , owner of the world’s biggest refining complex, imported nearly 9 percent less oil in November compared with October and did not purchase Iranian oil, according to data from shipping and industry sources.

The sources declined to be identified as they were not authorised to speak to the media. Sources previously told Reuters that Reliance would halt imports of Iranian oil from November to protect its wider exposure to the U.S. economy.

The private refiner shipped in about 23 percent of its oil imports from Latin America in November, compared with about 37 percent in September, while the share of Middle East grades in its overall purchases rose sharply to 71 percent, driven by higher purchase of Iraqi oil, from 40 percent. Read More

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