RIL sells first diesel cargo in Singapore

RIL sells first diesel cargo in Singapore

Singapore: Reliance Industries Ltd (RIL) on Tuesday sold its first diesel cargo in Singapore’s benchmark over-the-counter physical market since its second Jamnagar facility was completed, traders said.

The company sold 180,000 barrels of ultra-low sulfur diesel to Europe’s biggest oil company BP Plcat 90 cents a barrel over benchmark quotes for April, traders said.

The company has been operating in Singapore under its Reliance Global Energy Services Singapore Pte Ltd unit since August. A Singapore-based Reliance official declined to comment on the transaction.

—Bloomberg

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PE firms invest most in India in six quarters

Mumbai: Private equity (PE) investments in India climbed to the highest level in six quarters as a rally in equities helped stoke a revival in appetite for stakes in the nation’s companies, a study showed.

New investments by buyout firms rose more than threefold to $2 billion (Rs8,900 crore) in the three months ended 31 March from $620 million in the first quarter of 2009, Chennai-based research firm Venture Intelligence Ltd said.

—Bloomberg

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