Reliance Industries Ltd.

Reliance Industries (RIL) has purchased crude oil from Iran after a 6-year break. The company, which operates the world’s biggest refining complex at Jamnagar in Gujarat, is looking to strike a long-term fixed quantity deal, post lifting of sanctions. The company is looking at quickly ramping up purchases to the earlier levels of about 5 million tonnes a year.

Bowing to international pressure to isolate Iran over its nuclear programme, RIL in January 2009 had stopped exporting gasoline or petrol to Iran. And from February 2010, it stopped buying crude oil from the West Asian nation.

Reliance Industries has businesses across India, engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications.