After the Russia-Ukraine war, there is a massive shortage of petrol and diesel in the world. Now taking advantage of this, Mukesh Ambani’s Reliance has started exporting diesel to Europe. According to the news of business news website Economics Times, Mukesh Ambani’s Reliance Industries has started increasing production for export at Jamnagar Refinery. Some shipments of diesel have already been sent to Europe by the company.
World’s largest refinery in Jamnagar: Jamnagar Refinery operated by Reliance Industries Limited is the world’s largest crude oil refinery. It can purify about 13,60,000 barrels of crude oil a day. Most of the oil from this refinery is exported abroad. The export-oriented unit at Jamnagar Refinery with a production capacity of 7,04,000 was not in use since the Corona pandemic but is being produced at full capacity following increased demand from Europe.
Decision was taken to close the refinery: Reliance has two units for crude oil production at its Jamnagar refinery. Of these, the export-oriented unit was decided by Reliance to shut down for three weeks this month due to lack of demand, but now production has been started at full capacity. In January, Reliance Industries had utilized only 74.7 per cent of the export-oriented unit’s capacity, according to data from the Petroleum Ministry.
These companies are also involved in export: Apart from Reliance, other refineries in South West Asia are also exporting oil to Europe. Naira Energy Limited, which operates a much smaller refinery in Jamnagar than Reliance, is also in the race. Let us tell you that Russian company Roneft Oil Company PJSK has 49 percent stake in Naira Energy Limited.
After the Russia-Ukraine war, the price of crude oil in the world has increased by up to 60 percent. This is the first time after 14 years that the price of crude oil in the world has reached close to $140 per barrel.