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Reliance Industries finalises 2015 diesel, jet fuel term contracts: Report

09 Jan 2015 Evaluate

Reliance Industries has reportedly finalised its 2015 diesel and jet fuel term contracts at lower premiums as compared to previous year. The company has decided to sell 500 ppm sulphur diesel at a premium of about $1.30 a barrel above Middle East quotes, lower than the $2.25 to $2.50 a barrel negotiated for last year. It also agreed to sell the 10 ppm sulphur diesel at a premium of about $2 a barrel above Middle East quotes, lower than the $2.50 to $3 levels it achieved for 2014 term contracts.

For jet fuel, Reliance finalised its 2015 term at a premium of $1.85 a barrel to Middle East quotes, lower than the $2 a barrel it negotiated last year.

Reliance Industries is India’s largest private sector company, with a consolidated turnover of Rs 4,46,339 crore ($74.5 billion), cash profit of Rs 33,980 crore ($5.7 billion) and net profit of Rs 22,493 crore ($3.8 billion) for the year ended March 31, 2014.

 

Reliance Industries Share Price

1462.95 32.10 (2.24%)
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