India’s Reliance Industries Seeks to Get First Oil Cargo From the UAE

India’s Reliance Industries Seeks to Get First Oil Cargo From the UAE

India’s Reliance Industries Ltd stated that it seeks to receive its first cargo of oil from its new Abu Dhabi-based trading unit in December, a source informed Reuters.

Last October, the company announced that it plans to establish Reliance International Ltd (RINL) to trade in petroleum, petrochemical products, crude oil, and agricultural commodities.

Through RINL, Reliance Industries aims to get about 500,000 barrels of UAE’s Das crude, the source said.

It should be noted that Abu Dhabi National Oil Company (ADNOC) has supplied 1 million barrels of Das crude to Reliance in October and 2 million barrels in November, according to Reuters.

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