IOC, other state-run refiners turn sights to Latin America
Tuesday, July 7, 2015
Posted by: Alisa Allen
Reliance Industries Ltd (RIL) may soon face competition from state-run companies such as Indian Oil Corp. Ltd (IOC) that plan to source heavy crude from Latin America, refine it in India, and ship the product back to those markets, making money on the margin—a model successfully followed by billionaire Mukesh Ambani-controlled RIL.
http://www.livemint.com/Companies/X20PXhT92f6s1BstEoq6QN/Staterun-refiners-turn-sights-to-Latin-America.html
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