Mumbai : Reliance Industries (RIL) has declared force majeure on petrol exports from its Jamnagar site, four people familiar with the matter said on Wednesday, causing the profit margin from producing the fuel to jump to its highest since September.
The force majeure follows an unspecified issue at a petrol-producing fluid catalytic cracker (FCC) unit in its export-oriented refinery, two of the people said. That plant can process more than 500,000 barrels per day (bpd) of crude oil and is located in Jamnagar’s special economic zone.
Reliance filed a statement to the National Stock Exchange of India stating it has shut one of its FCC
units and that the unit is expected to restart within two weeks.
Netbanking 2.0 To Make Online Payments Faster, NPCI’s New ‘Banking Connect’ Brings QR Payments & AI Security—What Changes Now?
IND Vs SA 1st ODI: Virat Kohli Shuts Rumours On Future With Statement Century, Continues Ranchi Run
Dewald Brevis Stuns With One-Handed Catch To Dismiss CSK Teammate Ruturaj Gaikwad During IND vs SA 1st ODI; Video
Shiv Sena UBT Chief Uddhav Thackeray Calls For Removal Of ‘Bombay’ Name To Protect Mumbai’s Identity
