ABSTRACT
Reliance’s Jamnagar refinery in western India is largest single-site refinery in the world. It has capacity to process close to 1.4 million barrels of crude oil per day. Crude is obviously the largest raw material for complex, and Reliance’s Jamnagar refinery import nearly 100% of our crude oil needs. Asia has traditionally looked to the Middle East for supply because of its proximity, and Asian refiners have also preferred to buy their oil on a long-term basis because of their concerns about ensuring the security of supply. Refiners need to respond to how the refined product markets are performing, and obviously, they also need to respond to how the various price differentials for different crude grades are performing, how tight is the freight market and how is the differential between light and heavy crude oil. ‘one team’ techno-commercial approach forces the traders to work extremely closely with refinery operators. That degree of closeness is perhaps something that’s unique to Reliance.
