India’s Reliance sets up subsidiary in UAE
India’s Reliance Industries set up a subsidiary in the United Arab Emirates (UAE) for trading in crude oil, petroleum, petrochemical products and agricultural commodities, the company said.
Reliance International Ltd (RINL), the new subsidiary, has not begun operations yet but the parent company that wholly owns it, has invested US $1 million in the new business.
Previously, In June, the company entered into an agreement with Abu Dhabi National Oil Company (ADNOC) for a new chemicals production facility at TA’ZIZ in Ruwais, Abu Dhabi, which is Reliance's first investment in a greenfield overseas project.
Reliance Industries, operates the world's biggest refining complex at Jamnagar in western India. The group has previously stated that they want to become more international.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news
Peru to Take Over Petroperu’s Remaining Debt Payments This Year
China’s Steel Crisis Sends August Output to Lowest Since 2017
Oil Fades After Short-Lived Rebound as Storm Francine Passes
GEODE Consortium launches to roadmap the growth and development of geothermal energy
Oil Traders Confront a New World Without the China Bull Factor
ADNOC's ENERGYai strategy to set new technology benchmark for energy sector
Oil Steadies Below $70 After Demand Concerns Intensify Rout
Mubadala Energy expands Andaman Sea position
Oil Steadies as Traders Track Risk-On Tone and Storm Francine
BYD Lifts Annual Sales Target to 4 Million EVs, Plug-in Hybrids
Top stories
Most Read
Elsewhere on Energy Connects
Partner content
Why data centres and AI could shake up the global LNG market
Why energy executives expect the world to hit net zero by 2060
CSIS: long-term LNG demand to reshape global export capacity growth
More women in energy vital to the industry’s success
India’s energy sector presents lucrative opportunities for global companies
Partner content
Integrally geared compressors cut the carbon and boost carbon capture
Navigating the trading seas: exploring the significance of benchmarks
Back to the Future(s): the best commodities benchmarks are still physically settled
Ebara Elliott Energy offers a range of products for a sustainable energy economy
