Reliance May crude imports down 23 pct

RIL's daily crude oil imports fell about 23 pct in May due to a planned shutdown of a secondary unit.

Reliance Industries Ltd.’s daily crude oil imports fell about 23 per cent in May from April due to a planned shutdown of a secondary unit,data from trade sources showed.

Reliance,which runs the world’s biggest refining complex at Jamnagar in the western state of Gujarat,imported nearly 1.09 million barrels per day (bpd),down from 1.42 million bpd in April and up from about 721,900 bpd in May last year,according to the data.

Reliance shut a 100,000 bpd vacuum gas oil hydrotreater at its older 660,000 bpd refinery in early May to change a catalyst.

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Trade sources say the unit is still off-line. The company’s two complex refineries at Jamnagar can together process 1.24 million bpd crude.

Compared to April,the firm cut the intake of African grades in May by about 40 per cent to about 156,555 bpd,while imports of cheaper Middle East grades declined by 16 per cent to 497,765 bpd. Its purchases from Latin America fell 9 per cent.

In 2009,Reliance significantly raised imports from Africa to benefit from a narrowing Brent-Dubai price differential,an approximation of the premium at which Atlantic basin light-sweet crude trades to Gulf heavy-sour grades.

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