The deal on the 500,000 barrels storage facility was secured sometime towards the end of last year, traders said. “We know they have their eyes on the domestic US market, that is no secret, but it is going to be a while before we see demand there pick-up to pre (financial) crisis levels,” a Singapore based trader said. “So now Reliance is also looking at other long markets further South,” a Singapore based gasoline trader said.
Reliance, which operates two mega-refineries in the West Coast of India that has a combined crude processing capacity of 1.24 million barrels per day (bpd), has over the past few years embarked on a robust marketing campaign for their products in Europe, Latin Ameica, East Africa and the United States.
Reliance leases gasoline storage in the Caribbean
02.02.2010 - NEWS
January 28, 2010 [Reuters] - Reliance Industries, owner of the world's largest oil refining complex, has leased storage to store gasoline at the Borco oil terminal in the Caribbean, industry sources said on Thursday.