17-07-08 Reliance is investing $ 5.2 bn to develop Krishna Godavari, its largest field. Gas produced in the area is expected to more than double the country’s total output.
The Mumbai-based group’s Reliance Petroleum unit is building the 580,000 bpd refinery adjacent to a 660,000 barrel-a-day plant owned by the parent. Once complete, Reliance will own the world’s biggest refinery, according to the parent.

Chairman Mukesh Ambani earns more from each barrel of oil than overseas refiners by processing cheaper, lower grades of crude at a plant two days away by ship from Middle East oilfields.
Reliance earned $ 15.5 from processing a barrel of oil into fuel in the quarter ended March 31, compared with $ 7 for a plant in Singapore, the company said on April 21.

Ambani, the second-richest Indian and the world’s fifth-wealthiest person, according to Forbes magazine, needs higher profits to fund $ 24 bn of planned investments in chemical projects in the gas-rich Middle East and increase oil and gas exploration to benefit from record energy prices.
The expansion will help Reliance triple earnings in the next five years.