January 26, 2021

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Reliance Hires Indian Oil Ex-Chairman To Lead Oil-To-Chemical Enterprise

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Reliance Hires Indian Oil Ex-Chairman To Lead Oil-To-Chemical Business

Reliance is in talks to promote a 20 per cent stake in that enterprise to Saudi Aramco.

Reliance Industries Ltd has appointed Sanjiv Singh, former chairman of refiner and gasoline retailer Indian Oil Company, as group president and member of its oil-to-chemicals (O2C) enterprise management crew, in keeping with an inner announcement.

Mr Singh, who retired from IOC on June 30, will lead and drive the group’s manufacturing providers that are thought of the spine of RIL’s oil-to-chemicals enterprise, RIL Government Director Hital R Meswani mentioned within the announcement.

Operator of the world’s largest refining advanced, Reliance is within the strategy of carving out its O2C enterprise right into a separate unit known as Reliance O2C Ltd.

Reliance is in talks to promote a 20 per cent stake in that enterprise to Saudi Aramco.

Reliance didn’t reply to a Reuters e-mail in search of remark.

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