Reliance Industries Ltd.

Mukhesh Ambani owned Reliance Industries (RIL), with the aid of its world's largest gasification project, will augment refining margins by $3 a barrel in three to four years. The project, which will entail an investment of $4 billion, would be completed in a time span of three-four years and will start yielding returns in about three years. The project will make use of synthesis gas from petcoke, which will be substitute for costly LNG to cut costs, and also be used as feedstock for other plants.

The gasification project, which will initiate RIL's $12-billion investment in refining and petrochemical business, will also help raise output of high-value products from the refinery.

The company, recently along with its partners BP and Canada's Niko Resources has decided to exit the D4 oil and gas block off India's east coast, on account of production problem in the region.