Reliance buys into Gulf Africa Petroleum Corp
A picture of Reliance’s Jamnagar petrochemical refinery complex
Reliance, India’s largest private company, operates a 660,000 bpd refinery in India. Reliance Petroleum Ltd, a subsidiary in which Chevron Corp holds 5 percent, is building a 580,000 bpd unit nearby. The Hindustan Times paper reported on Tuesday that Reliance Industries, which has a market capitalisation of $67 billion, was eyeing a 50 percent stake in Kenya’s sole refinery.