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Mukesh Ambani is getting richer due to Russia-Ukraine war, find out how!

Although the conflict between Ukraine and Russia is now suspended, there are constant updates on Ukraine and Russia. Meanwhile, India’s private refinery Reliance Industries is benefiting from Russia’s attack on Ukraine. Where Reliance has reduced feedstock costs by purchasing arbitration barrels. At the same time the price of chemicals from oil produced in the refining process has gone up.

Yes, the group Reliance Industries is importing crude oil from Russia. And refining crude oil has become a major part of the Indian oil market. At present, Group Reliance Industries is the largest private refinery in India. Arbitrage barrel refers to the business of crude oil. Where a company buys cheap crude from the market at the same time and sells it in other markets with margins.

“We have been active in reducing feedstock costs by sourcing arbitrage barrels,” said V Srikanth, Joint Chief Financial Officer, RIL. According to company officials, RIL finds this opportunity very attractive. Due to which the company’s margins have improved. Where RIL’s revenue from O2C business grew by 56 percent year-over-year and revenue from Ebitda grew by 38 percent. All in all, the revenue from RIL has increased by many percent.

The two refineries in Jamnagar could refine 1.4 million barrels of crude oil per day. Group Reliance Industries, owned by Mukesh Ambani, is buying crude oil from Russia at a discount like other public sector companies. Russia is the world’s second largest exporter of mineral oil. Initially, India imported a small percentage of oil from Russia, but now the rate of oil imports from Russia has increased.

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