Reliance Petroleum (532743-BY)

The Economic Times  Mar 30  Comment 
The board issued a disgorgement order against the company on charges of fraudulent trading in its erstwhile unit, Reliance Petroleum.
The Economic Times  Mar 27  Comment 
Reliance Industries also reiterated to file an appeal against the Sebi order in the Reliance Petroleum case before the Securities Appellate Tribunal.
The Times of India  Jul 1  Comment 
The Securities Appellate Tribunal (SAT) on Monday dismissed an appeal by Reliance Industries (RIL) against market regulator Sebi, which had rejected the company’s plea for a consent proceeding in an insider trading case involving shares of...
The Economic Times  Mar 18  Comment 
SAT has been hearing the seven-year-old case of alleged insider trading arising from the merger of Reliance Petroleum (RPL) with RIL in 2007.
The Economic Times  Oct 11  Comment 
SAT has been hearing the appeal filed by RIL against Sebi in the insider-trading case related to its erstwhile subsidiary Reliance Petroleum Ltd (RPL) dating back to 2007.
The Economic Times  Mar 6  Comment 
BHC today disposed of a petition filed by Sebi challenging an order of the CIC directing disclosure of all details related to an alleged insider trading case involving Reliance Petroleum Ltd in 2007.
The Economic Times  Jan 23  Comment 
The Bombay High Court today deferred till February 1 hearing into a petition filed by markets regulator SEBI challenging the CIC order for disclosure of details related to an insider trading case involving Reliance Petroleum Ltd.
The Economic Times  Jan 11  Comment 
RIL had sought to settle certain investigations into alleged violation of insider trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum.
The Times of India  Nov 9  Comment 
Agrawal had sought to know from the SEBI names of individuals, partners, directors and major shareholders (in case of companies) involved in the short sale of shares of Reliance Petroleum in November 2007.


Reliance Petroleum Limited (RPL) - an Indian oil refining company and a listed subsidiary of India's biggest private business house - Reliance Industries Limited (RIL), is setting up a 580,000 barrels per day (bpd) or 29 mtpa oil refinery at an investment of INR 270 billion (US$6bn) in Jamnagar, India, just beside the its parent Company's refinary which has a capacity of 660,000 bpd. The refinery being an Export Oriented Unit (EOU) and is located at the Special Economic Zone (SEZ), government has granted 100% tax-break on its export earnings for the first five years of commissioning. The refinery is likely to be commissioned by September ’08.

The most interesting story about RPL is that its refineries are among the most complex in the world, capable of processing the most sour & heavy crude sourced from Arab countries - not just the light, sweet crude which most refineries require. These crude are much cheaper than the sweet crude like NYMEX or Brent and thus company will have much heigher refining margin called Gross Refining Margin (GRM). The complexity is measured in Neilson Complexity; the current world average is 8.5 wheres RPL has complexity of 14. These complex refinary are easily able to shift between the output like naphtha & gasoline; aviation fuels & diesel according to demand. RPL has the ability to produce fuels with sulphur content less that 10ppm, compliant with strict US and European emission norms, would enable the company to post higher realisations.

The Company is yet to generate its first revenues, but is already listed in India 2 years back. It raised a huge chunk of money in its Initial Public Offering (IPO) and already trades at premiun to its peers. The Company is already running ahead of its schedule and no cost over-runs. Reliance group is world renownd for their project execution skills. Image:RPL.jpg

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