Reliance Industries Ltd (RIL) has announced a reorganisation plan to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly owned subsidiary, Reliance O2C Limited (O2C), as a step towards facilitating participation by strategic investors in its O2C businesses.
New Delhi: Billionaire Mukesh Ambani s Reliance Industries Ltd has completed spin-off of the firm s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said.
The oil-to-chemical (O2C) business unit holds Reliance s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business.
Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results. Previously, refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm s overall retail business.
Reliance spins off oil-to-chemical unit
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A woman walks past a poster of Reliance Industries installed outside the venue of the company s annual general meeting in Mumbai June 7, 2012.
(REUTERS)
. Updated: 24 Jan 2021, 01:22 PM IST PTI
Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results
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NEW DELHI :
Billionaire Mukesh Ambani s Reliance Industries Ltd has completed spin-off of the firm s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said.
The oil-to-chemical (O2C) business unit holds Reliance s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business.
PTI | | Published 25.01.21, 02:27 AM
Mukesh Ambani’s Reliance Industries Ltd has completed the spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said.
The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business.
Reliance for the first time reported integrated earnings of the O2C business in its third-quarter financial results. Earlier, the refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm’s overall retail business.
Read more about Reliance Industries spins off oil-to-chemical business into new unit on Business Standard. O2C unit holds the firm s oil refinery and petrochem assets and retail fuel business but not upstream oil & gas producing fields such as KG-D6 and textiles business.