RPL Refinery achieves stable operations, supplies to global markets
MUMBAI, 23rd April 2009: Reliance Petroleum Limited (RPL) has recently commissioned
SEZ refinery at Jamnagar and processed 3.6 million tonnes of crude during the quarter
ended 31st March 2009. The refinery has also commissioned several secondary processing
units during the quarter.
These facilities are operating at design capacities. All the essential support units and
utilities are fully operational.
RPL has commenced production and despatch of products from its refinery to the quality
conscious markets of US and Europe. This is a reflection of its ability to produce and place
high quality, value-added products within a short time of production.
After the successful commissioning, RPL is focusing on achieving the highest standards of
safety and reliability at its facilities. The refinery is designed keeping in mind changing crude
and product dynamics and hence has the inherent capability of delivering superior returns
even in challenging market conditions.
Commenting on the progress Mr. Mukesh Ambani, Chairman of RPL said “RPL
refinery has achieved start-up and successful stabilisation of its operations within a short
period of time. The proposed merger with RIL will lead to a globally competitive and industry
leading refining business and create sustainable value for shareholders.”
Key Notes:
1. Commercial production has been considered from 15th March 2009.
2. Trial run income and expenses except interest are included under the respective
heads. An amount of Rs. 43 crore (US$ 8 million) being the net expense over income
during trial run is capitalized and adjusted from ‘Other expenditure’. Turnover
includes, trial run sales of Rs. 2,418 crore (US$ 477 million).
3. The company is operating an integrated refinery and has identified only one
reportable segment. The total capital employed of the company is Rs. 33,982 crore
(US$ 6.7 billion).
4. The Company has adjusted the foreign currency exchange differences on amounts
borrowed for acquisition of fixed assets to the carrying cost of fixed assets in line with
the amendment to Accounting Standard (AS 11) on “Effects of Changes in Foreign
Exchange Rates” vide GSR Notification 225 (E) dated 31st March 2009.
Source: Company Release
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