Business Standard

Reliance Industries in focus as benchmark refining margin slips

Stock falls a day after windfall tax cut; crude refiner's results today

Reliance Industries
Premium

RIL is set to report its first-quarter results on Friday.

Viveat Susan Pinto Mumbai
The benchmark of profitability for crude oil refiners has fallen sharply in the past few weeks, bringing oil companies like Reliance Industries (RIL) into sharp focus. The Singapore-Dubai hydrocracking refining margin has fallen 57 per cent in the past month, on the back of demand concerns triggered by recession fears globally. It now hovers over $16.24 per barrel, according to the Bloomberg data compiled by BS Research.

The fall is likely to hurt RIL, among other refiners, as it processes crude oil into refined products, said sector analysts. On Thursday, Brent crude touched $105.8 per barrel, down 3.2 per cent over

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in