Reliance Industries: Relying on refining margins3 min read . Updated: 16 Jul 2016, 01:42 AM IST
Most analysts had estimated its gross refining margins to be $9.5-10 per barrel; on the contrary, RIL's margins in the June quarter came in at $11.5 per barrel
Reliance Industries Ltd (RIL) had reported a premium of $3.1 per barrel over the Singapore gross refining margin (GRM) for the March quarter. For the June quarter, that premium was expected to expand further. However, the reported premium of $6.5 per barrel, the highest in the last eight years according to RIL, far exceeded Street estimates. Most analysts had estimated the company’s GRM to be in the range of $9.5-10 per barrel. On the contrary, RIL’s GRM in the June quarter came in at $11.5 per barrel.
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