Reliance Industries introduces O2C biz demerger ahead of Aramco deal

23 Feb 2021

Reliance Industries (RIL) has introduced contours of its demerger of its O2C (oil-to-chemicals) enterprise right into a wholly-owned subsidiary, in an effort to appeal to international buyers like Saudi Aramco and sought shareholder and creditor approval. O2C reorganization creates an independent, global scale growth engine for RIL, with strong cash flow generation potential. The company will further accelerate its New Energy & New Materials business towards its vision of clean and green energy development.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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