Challenge for Reliance Industries

By CROW -
The Saudis have just declared that they will be building four new, modern large refineries in the next three years. Kuwait has already started building a mega fourth refinery. The Saudis have declared that in future, they will export only petroleum and allied products NOT crude oil, which is logical. So where will he get sufficient crude when these new refineries come up? Venezuela? The freight costs would be too high. Will he build one in Venezuela or Peru? The region is famous for inviting foreign companies and then “nationalizing”, once they are on stream. Hence long term having a refinery with no captive crude supply is simply un viable, similar to having a mega steel plant with no mines for ore.

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