India’s Reliance’s refning margins drop

摘要

Indian private-sector refner Reliance Industries’ (RIL) gross refning margin (GRMs) fell by 4.3pc from a year earlier in January-March, and trailed the previous quarter. Margins were $11/bl in the latest quarter, down from $11.60/bl in the previous quarter and from $11.50/bl a year earlier, but $4/bl above benchmark Singapore refning margins, the company said. RIL’s refning business has recorded 13 consecutive quarters of double-digit margins. The GRMs recorded a nine-year high of $11.60/bl in the April 2017-March 2018 fnancial year from $11/bl a year earlier. Singapore complex margins averaged $7.20/bl in fscal 2017-18.