Reliance to spin off oil-to-chemicals business with $25 bn loan deccanherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deccanherald.com Daily Mail and Mail on Sunday newspapers.
Reliance to spin off oil-to-chemicals business with USD 25 bn loan
The carving out of Reliance O2C Limited (O2C) will enable the focused pursuit of opportunities across the oil-to-chemicals value chain, improve efficiencies through self-sustaining capital structure and a dedicated management team, and attract dedicated pools of investor capital, according to a company presentation filed with the stock exchanges.
Mukesh Ambani
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Billionaire Mukesh Ambani s Reliance Industries announced the contours of spinning-off its oil refining, fuel marketing and petrochemical (oil-to-chemical) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by settling stakes to global investors like Saudi Aramco.
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Oil industry looks ahead to better times in 2021 | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
by John S. Marshall
After a year of depressed prices and dramatic price swings oil industry, officials expect to ring out the old when clocks around the world strike midnight on New Year s Eve.
Though economies across the globe are still struggling with the devastating impact of the COVID-19 pandemic, analysts foresee oil prices will move modestly higher in the coming year.
The U.S. Energy Information Administration (EIA), which tracks and analyzes energy markets and prices for the government, predicted in its latest forecast that Brent crude oil prices, the international benchmark for oil prices, will average around 49 U.S. dollars per barrel in 2021.