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.
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.
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.
National
January 1, 2021
ISLAMABAD: In a much-awaited development, at last two 100 percent state-owned LNG entities, Pakistan LNG Limited (PLL) and Pakistan LNG Terminal Limited (PLTL), formally got merged. The merger will be effective from today (January 1, 2021) as PLTL and its board stand abolished.
âYes, both the companies have been merged with surviving entity of Pakistan LNG Limited that will be effective from January 1, 2021 and the staff of PLTL has been included in the PLL but later on, the said staff will be rationalized,â said Sajid Mehmood Qazi, spokesman of the Petroleum Division. He said that the PLTL company and its board now stand abolished. He also said that SECPâs legal notification was also on the cards about the merger of two state-owned companies. In future, PLTL will be read as PLL and this will be communicated to all relevant parties.