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Reliance Industries Ltd News

03 May 2019

Cyclone Slams Indian Coast, Millions Evacuated

A cyclone barrelled into eastern India on Friday, bringing down trees and power lines and "extensively" damaging the tourist town of Puri, but there were no early reports of casualties with a million people evacuated before it made landfall.Tropical Cyclone Fani, the strongest to hit India in five years, spent days building up power in the northern reaches of the Bay of Bengal before it struck the coast of the state of Odisha at around 8 a.m., the state-run India Meteorological Department (IMD) said.Howling winds gusting up to 200 kph (124 mph) whipsawed trees, uprooting scores, and driving rain impacted visibility, while streets were deserted in the state capital Bhubaneswar and Puri."Damage in Puri is extensive…

02 May 2019

Evacuations Underway as Cyclone Menaces India's Coast

India has evacuated more than 300,000 people along its northeast coastline by boat, bus and train ahead of a severe cyclone due to make landfall on Friday, with many villagers piling household possessions on to trucks before fleeing their homes.Severe cyclonic storm Fani was churning up the Bay of Bengal about 320 km (198 miles) south-southwest of the Hindu temple town of Puri where special trains were put on to evacuate tourists and the beaches were empty.In total, about 1.2 million people are expected to be evacuated from low-lying areas of 15 districts in the eastern state of Odisha to cyclone shelters, schools and other buildings…

24 Apr 2019

MOL, Reliance to Co-Own World’s 6 Largest Ethane Carrier

The international shipping company based in Tokyo Mitsui O.S.K. Lines Ltd (MOL) and Reliance Ethane Holding (REHPL) a 100% subsidiary of Reliance Industries Ltd(RIL) and based in Singapore agreed to co-owning of six very large ethane carriers (VLECs) which are currently fully owned by REHPL.VLEC is designed for transportation of liquified ethane which has over 80,000m3 of tank capacity. The vessels which transport liquified ethane at - 92 degrees have GTT Mark III membrane system and reliquefaction system.VLEC is between LNG carrier which transports liquified natural gas at 162 degrees and LPG carrier which transports liquified propane…

17 Apr 2019

Mitsui OSK Lines Adds Six VLECs to Fleet

Japan's Mitsui OSK Lines Ltd. will add six very large ethane carriers (VLECs) to its fleet through an investment deal with Reliance Industries Ltd, the Indian conglomerate said on Wednesday.Mitsui OSK, which has a fleet of more than 850 vessels, and a minority investor signed an agreement to buy stakes in six special purpose companies of Reliance Industries which own a VLEC each. Given Mitsui OSK is currently the operator of all the six VLECs, the investment will ensure continued safe and efficient operations of these carriers, Reliance Industries said.

12 Jul 2018

US Oil Exports to India Soar Ahead of Iran Sanctions

© Anatoly Menzhiliy / Adobe Stock

U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S. administration efforts to use energy to further its political goals.The United States has become a major crude exporter…

11 Jul 2018

India Cuts Iranian Oil Imports Ahead of Sanctions

© Jose Gill / Adobe Stock

Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.India's monthly oil imports from Iran declined to 592,800 barrels per day (bpd) in June, down 16 percent from May, according to data from industry and shipping sources.The United States in May said it would reimpose the sanctions after withdrawing from a 2015 agreement with Iran, Russia…

17 Oct 2017

Newest Outpost for US Crude Exports: India

© sedi78 / Adobe Stock

India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up "test" purchases of U.S. grades to diversify their imports. U.S. exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas. But shipments to India have been rare, with just a few deliveries since the U.S. lifted its ban on crude exports in late 2015. Indian refineries are starting to increase purchases as the country seeks to secure more supply from outside the Middle East. Refiners are testing both U.S.

10 Oct 2017

IOC to Lift U.S. Crude for December Delivery

Indian Oil Corp, the country's largest refiner, has bought two new types of U.S. crude for December delivery as it tests different grades from the United States, trade sources said on Tuesday. IOC bought 1 million barrels each of U.S. Southern Green Canyon (SGC) and WTI Midland crude likely from a Chinese trader, the people said, speaking on condition of anonymity. The purchase was in addition to 2 million barrels of Basra Light crude to be delivered in the same month. The United States has become a new source of crude supply for Asia since Washington lifted a ban on crude exports in late 2015. India joined other Asian countries in buying U.S. crude in the fourth quarter to widen its import sources as well as to reduce trade surplus with the United States.

03 Oct 2017

India's Reliance Makes First Purchase of US Crude

India's Reliance Industries Ltd, owner of the world’s biggest refining complex, has bought its first ever crude oil cargoes from the United States, drawn by the oil's economics after the price spread between U.S. crude futures and Brent futures widened, three trade sources said on Tuesday.   Reliance bought 1 million barrels each of West Texas Intermediate (WTI) Midland and Eagle Ford crude which are expected to arrive in November, they said.     (Reporting by Nidhi Verma, Florence Tan and Jessica Jaganathan)

30 Dec 2016

The Top 10 Ships of 2016

Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016, according to the editors of Maritime Reporter & Engineering News. Why: Second in series of the world’s first LNG powered containerships. Shipyard: Philly Shipyard Inc. Owner  Reliance Industries Ltd. Owner: Arctia Icebreaking Ltd.

20 Dec 2016

Great Ships of 2016: Ethane Crystal

(Photo: SHI)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. Owner: Reliance Industries, Ltd. The world’s first very large ethane carrier (VLEC), Ethane Crystal, has been delivered to India’s Reliance Industries Ltd. by South Korean shipbuilder Samsung Heavy Industries (SHI). The vessel is now the world’s largest purpose-built ethane carrier – comparable in size to today’s very large gas carriers (VLGC) – and with its 87,000 cu.

10 Nov 2016

World’s Largest Ethane Carrier Delivered

Ethane Crystal is the world’s first very large ethane carrier (VLEC) (Photo: SHI)

The world's first very large ethane carrier (VLEC), Ethane Crystal, has been delivered to India’s Reliance Industries Ltd. by South Korean shipbuilder Samsung Heavy Industries (SHI), representing a significant milestone for the gas shipping industry. The vessel is now the planet’s largest, purpose-built ethane carrier – comparable in size to today’s very large gas carriers (VLGC) – and with its 87,000 cbm cargo carrying capacity, represents a significant step up from the largest ethane carriers delivered to date: the 37,000 cbm Navigator Aurora and Navigator Eclipse.

01 Jul 2016

India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows. In the first half of 2016 India's Iran oil imports surged by about 58 percent to about 342,000 bpd, the data showed, in comparison with 216,500 bpd in the same period last year. HPCL-Mittal Energy, majority owned by state refiner Hindustan Petroleum Corp, halted oil imports from Iran in November 2012 under pressure from Western sanctions over Iran's nuclear ambitions. HPCL-Mittal Energy Ltd (HMEL), partly owned by steel tycoon Lakshmi N. Mittal, took a cargo from Tehran after a three-and-a-half year break. Last month HMEL took a million barrels of Iranian oil…

08 Oct 2014

Shipping Tribune Conclave Saw Strong Industry Participation

“The Shipping Tribune Conclave 2014” held yesterday at Holiday Inn, Mumbai saw a significantly large participation of stalwarts and operators of the Shipping Industry. Issues which affecting the employment and employability of Indian Seafarers came into focus. Mr. S. Hajara, one of the wll-known names in the shipping industry while delivering the keynote address highlighted the contribution and achievements of Indian seafarers. Capt. Vinay Singh emphasized the need for more quality officers for seniors ranks while also highlighting that the time taken to pass the competency examinations by our officers and engineers at junior level is far more  as compared to officers appearing for examination overseas.

20 Aug 2014

Reliance to Source Ethane from US

India's Reliance Industries Ltd said it will source 1.5 million metric tons of ethane a year from the United States as feedstock for its crackers in India. The company has executed storage and capacity agreements for liquefaction and export of ethane with a North American terminal, which is expected to commence operations in the second half of 2016, the company said in a statement on Monday. Reliance also said it has placed orders for six very large carriers to transport the liquefied ethane to India and is building storage facilities and pipelines to deliver ethane to its crackers. (Reporting by Aman Shah in Mumbai, editing by David Evans)

21 May 2014

India’s Seaborne Oil, Bulk Liquids & Gas Tanker Trade Conference

India Tanker Conference the biggest event of Hinode Events and Services Pvt Ltd, and the first one on the Tanker trade is set to take off on JUNE 5 in Mumbai at the Hotel Vivanta by Taj - President, in MUMBAI. This First Annual Conference on the Outlook for India’s Seaborne Oil, Bulk Liquids and Gas Tanker Trade, will explore the current challenges and outlook for the seaborne transportation of crude oil, bulk liquids AND gas cargoes encompassing the shipment of crude oil, petroleum products, petrochemicals, liquefied gases as well as vegetable oils, etc. Over 200 delegates are expected to attend. They will represent a wide cross section of the trade and industry including Ship owners and operators, charterers, cargo interests.

18 Apr 2014

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue. Reliance, which operates the world's biggest refining complex in western India, reported net profit of 56.31 billion rupees for the quarter to end-March, compared with analysts' expectations of 56.62 billion rupees. Its average gross refining margin dropped to $9.30 per barrel from $10.10 a year earlier, although it was up from the preceding quarter's $7.60. Net sales rose 13 percent. Investors have focussed, however, on the oil and gas production business at Reliance, India's second most valuable company which is controlled by its richest man, Mukesh Ambani.

17 Jan 2013

FPSO Mooring Inspection Contract for Welaptega

Welaptega Marine awarded contract for a mooring inspection & fitness for purpose evaluation on 'Dhirubhai-1' floating production storage & offloading (FPSO) vessel. The Dhirubhai-1 floating production storage and offloading (FPSO) facility is located in the Bay of Bengal, off the eastern coast of India, and the contract client is Aker Floating Production. A team of specialist engineers will deploy Welaptega’s suite of visualization and inspection technologies including the High-Definition 3D Video (HD3DV), 3D Modeling (3DM), Opticial Chain Measurement System (CMS), Subsea Chain Measurement Caliper and the Rope Measurement System (RMS).

24 Jan 2011

Reliance, Eighth-Largest Hirer of Aframax Ships for Fuels

A report from Bloomberg said that Reliance Industries Ltd., owner of the world’s largest oil refining complex, was the eighth-biggest charterer of Aframax vessels used to transport petroleum products last year, according to New York-based ship broker Poten & Partners. Charters by Reliance, controlled by billionaire Mukesh Ambani, represented about 3% of the market for Aframax- size “clean” tankers last year, each with the capacity to carry about 830,000 barrels of gasoline, according to a report released by. (Source: Bloomberg)

09 Jan 2008

Financial IUpdate on Asia and China

According to Bloomberg.com, Asian stocks rose for the first time in four days, led by financial shares, after China Merchants Bank Co. doubled its profit and Citic Securities Co. said net income jumped more than fivefold. China Construction Bank Corp. climbed the most in two weeks in Hong Kong. Fubon Financial Holding Co. led Taiwanese financial companies higher after the Economic Daily News reported they may be allowed to buy stakes in China's banks. Reliance Industries Ltd. paced gains among energy shares after saying it may join rivals to seek oil in India. The MSCI Asia Pacific Index added 0.1 percent to 153.10 as of 7:17 p.m. in Tokyo, following a three-day, 3.4 percent drop. About six stocks climbed for every five that retreated.

15 Mar 2012

India LNG Terminal to Receive LNG Cargo

India’s third liquefied natural gas import terminal will receive its first shipment this month from Norway, two people with knowledge of the transaction said. The so-called commissioning cargo, which will be used to prepare the site for commercial operations, will be delivered by Excelerate Energy LLC to GAIL India Ltd.’s Dabhol terminal, on the country’s west coast, on about March 27, one of the people said, declining to be identified because the information is confidential. The LNG carrier, called Excelerate, loaded last week at Statoil ASA’s Snohvit LNG plant in the Barents Sea off Norway and is bound for Dabhol, both people said. The ship is currently in the Mediterranean Sea heading east. India is increasing LNG imports after Mumbai-based Reliance Industries Ltd.

12 Apr 2012

Metso Strengthens Valve Supply in India

Metso has opened a new valve supply and service center in Vadodara, India. The new supply center supports the company’s strategy to grow the valve business globally and strengthens Metso’s service capabilities in India for major petrochemical, energy, and oil and gas companies, such as Reliance Industries Ltd., Indian Oil Corporation, Technip, Praxair India Pvt. Ltd and PRAJ Industries Ltd. “The market in India is growing. Last year, we doubled our order intake for valves and related services, and expect the good development to continue. Establishing a new supply center in India is a step going forward in widening  manufacturing and service capabilities in India,’’  said  Alok Kishore, Country Manager India, Metso Automation.

19 Nov 2009

ABS Adds to Membership

At the recent ABS Council meeting in N.Y., 40 prominent members of the shipping and offshore industries were elected as new members of the international classification society. The ABS Council also elected two new members to the society’s Technical Committee. “ABS governance is vested in a membership comprised of distinguished individuals drawn from the international shipping, shipbuilding and offshore industries, from academia, the insurance sector and other related disciplines,” said ABS Chairman and CEO Robert D. Somerville. Akimitsu Ashida, President, Mitsui O.S.K. Lines, Ltd. Noel L. Captain Ali M. Belhag, Chairman, GNMTC – General National Maritime Transport Co. Joseph L. Takatoshi Funada, President, Funada Kaiun Co., Ltd. Kevin M.