Reliance Industries Ltd. is raising sales from the world’s biggest refining complex, helping boost profit from crude processing and beating rivals including Asia’s largest refiner China Petroleum & Chemical Corp.
Reliance Industries Ltd. , India’s largest listed company, doubled fuel exports from the world’s biggest refining complex last month as it boosted gasoline shipments to the U.S. ahead of the driving season.
A goods train rammed into derailed coaches of a passenger express in eastern India, killing at least 75 people in the country’s worst rail disaster in eight years, as officials suspected sabotage by Maoist rebels.
The U.S. government has offered to help India get alternative supplies for Iranian crude as it looks to squeeze the Persian Gulf producer’s oil revenue, according to three people with knowledge of the matter.
India spent the past five years cutting its Iranian oil imports to comply with international sanctions. Now, Asia’s second-largest energy user needs the curbs to ease as fighting threatens its supply from Iraq.
India’s next auction of oil rights may draw fewer international bids should the government delay Cairn Energy Plc ’s plan to sell a stake in its local unit to Vedanta Resources Plc, the U.K.-based company said.