Mukesh Ambani, Chairman and Managing Director in the company’s annual report, said, “The partnership gives our refineries access to a comprehensive portfolio of feedstock protection for conversion to price-preventive crude grades and high oil-chemicals.”
Ambani said RIL’s consumer businesses continue to set new milestones every year, with a 49.3 percent year-on-year (YoY) growth of consolidated EBITDA by Reliance Retail and Jio collectively.
He said that the company’s retail business was touching new heights, and did a business of Rs 1,62,936 crore and counted 11,784 stores.
Talking about his oil and gas business, Ambani said three projects in KG-D6 – R-Cluster, Satellite Cluster and MJ Sector Development – are on track for monetary discoveries, and these projects are on KG D-Block’s existing gas generation infrastructure Will use the framework.
In addition, this infrastructure could act as a hub for the development of any exploration from contiguous areas in the future, he said, adding that these three projects would reduce India’s import dependence from joint production and India’s energy security. Is expected to increase.
He said that peak output from these three regions is expected to reach 1 BCFE per day in 2023, which was about 15 percent of India’s projected demand that year.
The company has also made progress on the second phase of development activities in its domestic coal bed methane (CBM) blocks to increase production from these areas.
RIL recently raised the rights issue of Rs 1,68,818 crore and Rs 53,124 crore through a series of investments by global tech investors in the Rs 1,15,694 crore Jio platform.
With the sale of BP’s stake in the petro-retail JV, the total funds raised are over Rs 1,75,000 crore.
The company had net debt of Rs 1,61,035 crore as on 31 March and with these investments, RIL has now become net debt free.
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